David Geller

Contributor at Instore Magazine

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Articles

David Geller Tells How He Went from Failing Jewelry Shop Owner to Successful Retailer and Consultant

Jan 14, 2025 | instoremag.com | David Geller

BY NOW, MOST JEWELERS know that I’ve handed over the Geller Blue Book to Jewelry Repair & Design to my nephew, Jonathan Geller, who also runs my brother’s three bridal stores. The new website for the Geller Book is gellerbluebook.com. Since this is my final column for INSTORE, I thought I would share how I started and how I got to this point in my career. My brother and I are 14th generation jewelers, taught in my father’s trade shop/wholesale manufacturing company.
Here Are 5 Games to Help Motivate Your Team

Sep 16, 2024 | instoremag.com | David Geller

PLAYING GAMES IN A store with the staff getting cash and prizes typically increases sales. What's better than more STUFF when we all do better. Here's some I've shared with jewelers. Pass the buck. Because my store was 75% shop sales, we used this on and off, usually on a Saturday. The first person to make a repair sale gets a $20 bill. The next person who makes a bigger repair sale takes the twenty from the previous person. And so on.
Consider Offering Custom Design in Your Own Store

Jul 15, 2024 | instoremag.com | David Geller

STORES DOING CUSTOM bridal are killing it!When I was a young man, the bride was about 22 and groom was about 25. Today, people are getting married later, bride 25 to 27 and groom about 28. They also make more money and can afford a better ring. In addition, the couple might visit 15 websites looking and still visit maybe five-plus brick-and-mortar stores. 75% will still buy their ring in a store. They will also wait whatever time it takes for you to custom make the ring of her dreams.
Here's How to Close More Repair Sales

Jun 12, 2024 | instoremag.com | David Geller

SO MANY STORES I talk to are afraid of what customers will say if they raise their prices. But remember, a customer may ask, "Why is it so expensive?", but it doesn't mean they won't buy your service. What the customer is saying is, "Tell me more."Sure, some will leave, but it's a numbers game. The truth is, if 10 people ask, "How much to fix my ring?", after giving the price, nine out of 10 will say, "OK, when can I pick it up?"Here's how to make sure you close as many repair sales as possible.
How You Can Guarantee Your Repair Work

May 21, 2024 | instoremag.com | David Geller

MANY JEWELERS SAY they guarantee their work, but when the customer comes back because a stone fell out, the first crazy thing they say is, "Did you catch the ring in a car door?" Just trying to get out of taking the hit. More than likely, they are afraid to take the blame for something that they didn't do. Commonly, I see a store guaranteeing their work for only six months. Guess what?
Want Your Salespeople to Succeed? Here's How to Systematize Your Training

Mar 19, 2024 | instoremag.com | David Geller

MANY TIMES, A store owner will hire a salesperson who has worked in the industry or someone with no experience but "they seem to be the type who could sell." Just because a person was in sales in another store doesn't mean they can really sell. Maybe their selling expertise is far from good and the green person you hired needs lots of training.
Here's How Both You and Your Bench Jewelers Can Make More Money

Feb 13, 2024 | instoremag.com | David Geller

I'M ON MANY Facebook jewelers' groups, such as Jewelers Helping Jewelers, Bench Jewelers Helping Bench Jewelers, and Bench Jewelers. All are great resources for our industry. But the same question keeps coming up over and over: "How do you pay a jeweler by piece work?"There are two possibilities: The jeweler who will do the work will tell the store how much he/she will charge to do a procedure.
Are You a Good, Better, or Best Jeweler?

Dec 13, 2023 | instoremag.com | David Geller

YOU'VE PROBABLY HEARD of "good/better/best" pricing, but I'm going to talk to you about "good/better/best" jewelers. A "Good" Jeweler ... Runs the store by the seat of their pants. They buy lots of inventory because they like pretty things without thinking too much about price points and how well they turn in a year. They hardly ever get rid of years-old inventory, thinking they'll make a killing as gold rises - it's their retirement plan.
Think You Should Hang Onto Old Inventory? Think Again

Nov 26, 2023 | instoremag.com | David Geller

I RECENTLY SPOKE WITH a jeweler who I have been helping with his QuickBooks for many years. Sadly, he learned all he knows from his father who owned the store previously. Why sadly? Because Dad was old school: KEEP INVENTORY UNTIL EITHER OF YOU DIE FIRST. Every year, I'd pull up his GMROI report in The Edge and show him his terrible turn and how much aged inventory he had. I told him that aged inventory shows up almost dollar for dollar with accounts payable debt, credit card debt and bank loans.
Here's How to Figure Each Salesperson's Productivity

Oct 18, 2023 | instoremag.com | David Geller

HERE'S HOW TO figure each salesperson's productivity: On a piece of paper, make four columns with these headings: salesperson, W-2, total sales, and percentage cost. You'll then list each of your salespeople in the salesperson column. Total sales should include product sales, special orders, repairs, custom design, watch repair and batteries. Now divide their W-2 by their sales. This will show you what percentage of each dollar they bring in they get for their pay.