Store closing sale results in substantial cash flow.
Madison Jewelers of Fairfield, CT had been in business for 71 years.
Now it faced the prospect of going out of business due to the jewelry store owner’s health.
Madison Jewelers [Fairfield, CT]
The manager of Madison Jewelers in Fairfield, Connecticut, contacted Jewelry Advisors Group to help close the location, acting on a decision that was made when the owner decided he was no longer able to run the store due to poor health. Silverman responded by creating a professional sales plan that budgeted for an internal sales volume of $900,000. The company also supplied the store with additional merchandise to boost low inventory levels. In addition, Silverman implemented a marketing program, which included the use of print, direct mail, and sign walker programs. The result was a sales volume in excess of $1,200,000, an increase of 33% over projection, producing substantial additional cash flow for the estate of the owner, who has since passed away. Madison Jewelers, which had been in business for 71 years, reported an annual volume of $1,300,000.
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