Column: What It Feels Like to Close My Store

person with whom I had signed the agreement called me to say she was letting me out of the contract because she was unable to develop any interest with my customers.

Constant Contact is a format for small businesses to reach their clients through email marketing. I sat at my computer and figured out how to send out monthly emails. A few were opened, but I didn’t see any increase in my business. After a couple of years, I got frustrated and lazy, and finally this past year stopped sending emails.

You’ve spent a lifetime building your business, not closing it, so hire a professional who is not emotionally attached to your business. It’s not going to be fun, but they can guide you through the process and help you get you the biggest return on your investment by selling more of your inventory than you could on your own.

In 1983, when I opened my store, I didn’t carry silver jewelry. We were a fine jewelry store and, to me, that was costume jewelry, not something that fit into our merchandise mix. And wouldn’t you know it, today I have tons of silver jewelry, doing what I can to bring down the price point and show fashion-minded pieces to my customers. The problem with lower-price-point items is that we never got enough traffic to cover our expenses by selling less expensive items.

The list of things all of you are doing to keep your businesses going is endless. These are just a few of the things that I’ve tried. So, what is it like after spending more than half of my life in my store to have to close it? Those of you who are facing the same dilemma know the sick feeling in your gut that comes with this terrible decision, yet there is a sense of relief in knowing that the unhappiness that comes with going in to work in a frustrating situation every day is coming to an end.

I was given wise words by someone in our industry when they said, “No one goes into business planning on going out of business.” We all think when we go into business that it’s forever, but we find out that all of us, one way or another, must sell, close or transfer our business to the next generation. The day will come when we have to say goodbye.

I also once was told, “One of the hardest lessons to learn in life is learning to let go.” But here’s how I’m doing it.

I’ve hired a company to help me go out of business, and I would suggest that if you find yourself needing to close your store, you do the same. If you need your house painted, you hire a painter. If you need electrical work done, you hire an electrician. You hire professionals to do jobs that you are not proficient at doing yourself.

You’ve spent a lifetime building your business, not closing it, so hire a professional who is not emotionally attached to your business. The professionals will help you let go and move on to the next stage of your life as smoothly as possible. It’s not going to be fun, but they can guide you through the process and help you get you the biggest return on your investment by selling more of your inventory than you could on your own.

I started writing for National Jeweler 10 years ago, and in that first article I talked about the demise of the mom-and-pop drug store. When I opened my store in Chagrin Falls, Ohio, there were three independent drug stores, all providing a living for the owners and their families. That changed long ago and today there is only one CVS.

I said then that the druggists were not at fault. They had given good service and fair prices to their clients. They kept their store clean and neat and knew you by name when you walked into their stores. What changed was the market, and that’s what we are seeing today in our industry; the old ways just don’t work anymore. If you are able to change and adapt, you’ll survive.

My best wishes to all of you who have taken the time to read this and the many articles of mine that National Jeweler has been kind enough to publish. I hope that I can continue to add something to the industry that I love in future articles.

The holiday season is just around the corner, again. Make it as great as you can.

Retailer Jim Alperin owns James Alperin Jewelers in Pepper Pike, Ohio. He can be reached at alpjewel@aol.com.