How I Turned a $1 Jewellery Store into a Million-Dollar Success

One of my numerous business successes came when I purchased a jewellery retail business directly from a liquidator for just $1. The business was failing, but I saw potential. Within a few years, that $1 investment grew into a $1 million enterprise.

After taking over the business, I quickly began uncovering issues. On the first day, I noticed a jar behind the counter continuously filling with coins. After investigating, I discovered that this was 20% of the income from battery replacements, which the store manager had been pocketing. Needless to say, he was fired on the spot.

I also had two senior staff members—Shirley and Joan. Joan was asserting her superiority, sucking up to me, and vying for the manager’s role. However, I quickly smelt a rat. I watched carefully and it became clear that the Shirley was far more capable, whilst Joan was inefficient and many making costly mistakes. Unfortunately, I had to let her go, and Shirley became the store manager.

Identifying Issues and Making Bold Changes

The Artistic Eye That Brought Attention to the Store

Not long after, I noticed that Shirley had a remarkable artistic eye. Her window displays were striking, attracting attention from passersby. Seeing her talent, I made it a priority to find quirky props for the displays to highlight our jewellery in unique ways. Around Easter, I had the idea to use one-day-old chicks running around the jewellery in the window display. The sight of these chicks drew crowds to our store, and there was plenty of buzz in the area, and the local media, about the display. It was an unconventional, inexpensive yet highly effective way to generate attention.

Empowering Staff Through Training

I believed in the power of staff training and instilled in my team the importance of up-selling. If a customer bought a necklace, they were shown matching bracelets or rings. If someone was redesigning a ring, staff were trained to suggest improvements, such as adding diamonds to enhance its value. They were asked if there were any birthdays or special occasions coming up. In addition, we offered a free jewellery cleaning and inspection service, allowing us to check for loose stones or wear and tear. This not only built trust but often led to sales when customers were advised to replace or upgrade settings to better protect their gemstones. For watch-wearing clients, we reminded them of the importance of battery replacements, subtly opening the door for further purchases.

I made sure that the staff understood the nuances of selling, while also maintaining a professional and helpful demeanor. Staff training wasn’t just about increasing sales—it was about knowing how to guide customers toward making decisions they felt happy with, while providing them with quality suggestions that genuinely improved their experience. 

But more importantly, I taught my team that the customer is number one. Every person walking into the store had to be acknowledged without being followed. Staff had to be attentive, but also allow customers the space to browse and feel comfortable.

I would have staff join me when I was serving customers to observe how I built rapport. I’d sit down with the customer, not just to talk about what they came in for, but to explore their aspirations and what they truly dreamed of owning. Sometimes, I’d have staff prepare tea to create a comfortable, personal atmosphere. These relaxed, informal conversations often led to substantial sales, as customers valued the genuine, non-pressured approach. What started as a $500 sale could frequently turn into $2,000 or more.

During one of our regular staff meetings, I asked why they thought they weren’t getting many sales of larger, high-value items. The general response was, “People in this area don’t have a lot of money to spend.” This flawed assumption needed to change.

To shift the perspective, I reached out to Argyle Diamonds in Perth, knowing they had larger stones available on consignment. I secured four 1-carat champagne diamonds and told my staff we could sell them within the week. They were dubious, and the challenge was on. I made sure I involved them in my conversations with customers who seemed receptive to owning a piece of jewellery featuring one of these beautiful stones.

Sure enough, before the week was over, we sold three of the diamonds, which were set into handcrafted jewellery. The sales from that initiative alone exceeded $16,000. My staff were shocked, having learned an important lesson: you cannot judge a book by its cover. People may have more to spend than they appear, and if they truly want something, they’ll find a way to make the purchase. Our job, as salespeople, is to help them along that path to owning something they truly desire.

Creative Marketing: Rewarding Customers

Another initiative I introduced was selecting three customers every week who had jewellery or watch repairs done with us. I would send them a letter and a cheque, offering a partial refund. The reason I gave was that we had achieved cost savings, and we wanted to pass those savings on to our customers. The response was incredible—customers were in disbelief, and it generated word-of-mouth advertising far more powerful than any traditional ad campaign. The small refunds cost far less than conventional marketing but had a profound impact on our store's reputation and visibility.

Mastering the Art of Pearl Threading: A Strategic Investment in Skill Development

Pearl threading has always been a highly specialised and sought-after skill, and we frequently had customers bringing in broken strands in need of expert restringing. With only a few skilled artisans in the state capable of this intricate work, I saw an opportunity to develop the skill within our business rather than outsourcing it.

To accomplish this, I sent our manager, Shirley, to Singapore for an intensive 10-day training with a local pearl supplier. By this stage, we were already purchasing our pearls and beaded jewellery from Singapore at significantly low prices, which gave us a competitive edge. But I digress.

Shirley quickly mastered the art of pearl threading and began handling all of our rethreading projects in-house. In recognition of her new expertise, she earned well-deserved bonuses for this additional work. Not only did this provide a new revenue stream, but it also set us apart from our competitors by offering an exclusive, high-demand service. Customers appreciated the craftsmanship, speed of service, and trust we built, solidifying our reputation for efficiency, quality and care.

Investing in Technology and Buying Strategy

One of the first major improvements I made was investing in a computerised point-of-sale system—a huge expense back in the 1980s when computers were new to retail. This system streamlined everything from financial management to layby, stock control, and price tag printing, propelling efficiency, and ultimately saving the business a significant amount of time and money.

Breaking Free from Supplier Control
I identified that the major watch supplier in Australia, Seiko, was limiting our profits by controlling retail prices, allowing us only a 60% markup. I wasn’t willing to be constrained like that. So, I'd make regular trips to Singapore, where I made direct contacts and brought back models of Seiko watches not available in Australia. These unique models had no price comparisons, allowing us to achieve a 200% markup or more. The tactic was referred to as parallel importing - not liked by the main agents in Australia who threatened to blacklist me; that was fine, I now had my own suppliers.

I used the same strategy with Citizen brand watches. Additionally, I created our own brand, “Genêve”, sourcing them for $6 to $10 and selling them for over $100. This strategy maximised our margins while offering value to customers through unique, competitively priced products.

I applied this approach across the entire product range in the business. For example, instead of sourcing silverware products like goblets, trays and napkin rings locally, I imported them direct from the manufacturer in Germany, cutting out both the importer and distributor and allowing for an 800% markup. Despite these high margins, customers still found value compared to other jewellery stores.

The business became highly profitable, providing such a substantial net income that it allowed me to venture into many other fields. What started as a $1 purchase evolved into a million-dollar success story through smart, strategic decisions and a focus on profit margins while offering value to customers.

Customer Service: A Story of Prioritising Relationships

At our jewellery store, customers were always the priority, never an interruption. We understood that they were the reason we existed, not a distraction from our work. Every customer who walked through our doors was treated with the utmost respect, as though they were royalty. Whether they were browsing for a gift or considering a special purchase for themselves, each person was made to feel special.

Customers were never rushed. Our team was trained to give people the time and space they needed to consider their options, ensuring they were guided, not pushed, toward their purchase. We knew that building trust and rapportwas crucial to fostering long-term relationships. Happy customers, after all, would not only return but would also spread the word to their friends and family.

To extend their stay and enhance their experience, we often invited them to sit with us, offering tea or coffee. This not only helped them relax but allowed us more time to talk and connect with them on a personal level. During these conversations, we’d often have another staff member offer a free jewellery cleaning service while they waited. This gave us the opportunity to inspect their pieces for any loose stones or damage, which could lead to further services like repairs or upgrades.

The gratitude of our customers was evident—so many times they would return with a bouquet of flowers or a bottle of wine to thank us for our service. Their appreciation spoke volumes about the relationship-building we focused on. These gestures confirmed that our efforts to make each experience memorable and pleasant were paying off.

When a customer made a purchase, it was treated as a special occasion. Every item was beautifully packaged—premium boxes, soft fabric pouches, gift wrapped, and tied with an elegant bow. We invested in high-quality packaging because we understood that it elevated the perceived value of the jewellery and watches, allowing us to position our products at a higher price point. Presentation was just as important as the product itself.

If a customer found something they loved but couldn’t quite afford, we offered interest-free layby plans, making it easier for them to own the piece they desired without financial strain. This flexibility encouraged purchases that might otherwise have been lost.

We consistently focused on relationship-building over transactions. Whether it was through friendly conversation, offering practical services like cleaning and repairs, or ensuring they left with a beautifully wrapped item, our goal was to create an experience that made customers want to come back again and again, and they did.

Another testament to our commitment to customer service is my mother, who, now at 95 years old, still has people approach her in the shopping centre to talk about their experience at Burlington Jewellers. Decades after we closed our doors, customers fondly recall how much they enjoyed their time with us. They often tell her how much they miss our store, expressing their wish that Burlington Jewellers was still around. These lasting relationships are a powerful reminder that great customer service goes beyond transactions—it creates memories that stand the test of time. Our priority was always making sure that each person who walked through our doors felt valued, and that’s a legacy my mother continues to hear about to this day.

Truly meaningful is the fact that many of our staff members have remained in contact over the years, and these relationships have blossomed into enduring friendships. The connections we fostered weren’t just business; they were built on genuine care and mutual respect, and many of the staff and customers still cherish those bonds today. It’s these personal connections that made Burlington Jewellers more than just a store—it was a community.

Lasting Connections: Burlington Jewellers' Legacy of Customer Service and Friendship

Establishing Our Own Jewellery Manufacturing Operation

Rather than sending jewellery out for repair to independent repairers, I opened my own jewellery manufacturing business, employing a team of skilled jewellers. This allowed us to handle repairs and manufacture new jewellery, cutting out the wholesalers and maximising profits.

Why Experience Matters

What sets my business consultancy apart is that I don’t follow the traditional rule book, and I won’t accept limits on your business imposed by others. I believe there must always be forward momentum—standing still is not an option.

My approach isn’t just about offering advice from a book or classroom; it’s about delivering real-life, proven strategies rooted in decades of hands-on experience. Don’t just aim for the sky, nor merely reach for the stars—we can do better than that!

I’ve learned from the ground up what businesses should, and shouldn’t, do. Whether it's avoiding costly mistakes, improving efficiency, or unlocking new markets, my expertise ensures that your business continues to grow, saving you time and money while driving sustainable growth.

One Story Among Many: The Universal Principles of Success

The story of Burlington Jewellers is but one chapter in my journey through the world of business. While this particular venture revolved around jewellery, the principles that made it thrive—exceptional customer service, building lasting relationships, understanding human psychology, and continuously improving systems—apply to businesses in all industries. These are the fundamentals that drive success, whether you're selling jewellery, running a service-based business, or launching a start-up.

Over the years, I've owned and developed many businesses from the ground up, each growing into a thriving enterprise through the use of tried and tested procedures, techniques, and a deep understanding of what motivates customers and drives loyalty. The skills and strategies that helped Burlington Jewellers flourish are not unique to the jewellery industry—they are universal. With the right application, these same strategies can be adapted to suit any business, no matter the product or service.

What I learned from my time at Burlington Jewellers is just one example of the business acumen I bring to the table. With decades of experience and a proven track record of transforming businesses, I am confident that these principles can be applied to any venture, helping it grow and succeed just as my other enterprises have.

Let’s Work Together to Transform Your Business

Ready to catapult your business into the future? Whether you’re a startup looking for direction or an established company aiming to improve or expand, I can provide the expertise you need to succeed. Contact me today to discuss how I can help your business thrive.