Have you observed that you are carrying a huge liability in your store? Daily, Monthly, Yearly and even for over a decade?
Yes, the gold jewellery in your store, you are carrying a huge liability. Yet, we rarely recognise it. Do you know why?
Like back pain, we are all suffering for many years, and given up on a cure, the “golden furniture” in our stores is there right in front of us. Yet, we have not recognised it.
Most jewellers carry a minimum of 30 kgs of stock, that is worth 12 Crores at today’s prices. It is a large amount of money.
Now observe closely and you will find stocks bought months ago, years ago, maybe even 2/5/10+ years ago and still lying in the store, because you could not find a customer! In fact, a retailer told me, he has stocks are over 20 years old in his store.
Most jewellers have at least 35% of their inventory, which is “dead” and has become “GOLDEN FURNITURE”. Just like the wooden furniture in the store. At least the wooden furniture cleaned every day.
When was this GOLDEN FURNITURE even cleaned?
How much of your stock is “GOLDEN FURNITURE”. Let me know. If you are average Indian Jeweller, that is worth Rs. 3.5 crores sitting every day inside the counter and inside the VAULT at night. Right.
Having worked with over 350+ businesses, and finding the same pattern, I am even willing to bet with you. Ready?
Let me know! If you will take this bet on? And, I don’t even know who you are, where is your store, and how much stock you carry. Right.
If you want to solve this Rs. 3.5 crores problem, I can help.
But first, let us be friends? Send me a friend request here on FB and a WhatsApp message on 9036036524 with your name & store location.
Then, let us discuss over a cup of virtual “chai pe charcha” at 5.30 pm tomorrow? I am getting ready to meet you. Are you? Get ready to meet me over garma garam chai.
“Golden Furniture” Shivaram