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Close Down Sales
Our team offer a unique range of design and management services to independent retail jewellers looking to optimise their exit strategy.
When it comes to exiting a jewellery business, the conventional method of a trade sale has become more and more difficult to achieve due to many factors. These factors include, but are not limited to, the changing market place, the increase in online jewellery sales and the power of watch brands. For example, in 2023, if you do not have a premium Swiss watch brand, it can be challenging to attract interest and complete the sale of your business.
"As a small independent family jewellers faced with closing down our business due to our retirement, we did not really know where to start."
Heasmans the Jeweller, Tonbridge
There are many reasons that jewellery businesses consider a closing down sale. It may be that the business is no longer profitable, a retirement sale, an end of lease or relocation along with many others. At Whitehouse, we have found that there are independent jewellers who have continued to trade in this ever-changing climate and have reached a stage in their lives where they wish to exit their business, but are unsure of the most financially beneficial means of doing this.
Whitehouse has advised a variety of independent retail jewellers throughout the United Kingdom on how best to optimise their exit strategy from their jewellery business through a closing down sale, managing the process from initial discussion to the final day of trading. The options available to you and your business can all be discussed in an initial, no obligation meeting on or off site. In this meeting, we will discuss with you the process, the timescale and the costs. In addition to meeting with the business owner, our team are also happy to meet with your retail and sales team to discuss with them their involvement and our goals for the process.
At Whitehouse, we are there to advise, guide and ultimately achieve the best results for you.
OUR APPROACH
Marketing & Advertising
Marketing & Advertising
Our service is expansive and includes a 360-approach to jewellery marketing and advertising, ensuring the best result for you, your team and your business. Our in-house media team will discuss with you a selection of media booking opportunities including print, digital, social and radio campaigns, agreeing with you the budget and style of advertising at every stage to ensure the best rates and positions available for your sale. In addition, we will utilise your customer database, using both email and postal addresses, arranging for the cleansing and sorting of the data where required. Our team will design and create all the artwork you require for the sale, including everything from vinyls for the front of your store to newspaper adverts and social media content.
"Karl, Melissa and their team came to our aid with a plethora of knowledge, expertise and guidance that allowed us to concentrate on the store, the staff and selling; taking the time consuming marketing and PR off our hands by liaising with our contacts and bringing in contacts of their own."
Wilkins The Jewellers, Isle of Man
As well as the various media opportunities we have mentioned above, our team will also liaise with a trusted PR agency to achieve the best local and regional coverage for the sale. This coverage may include editorial coverage, radio coverage and much more. For example, in the case of Prestons of Bolton, we also achieved regional coverage over radio and television.
}Sales & Product
Sales & Product
In order to ensure your offering or sale has the biggest impact, we want to ensure that your showroom or stores have the best product available to attract clients from outside your usual customer database.
Our team will liaise with trusted manufacturers and wholesalers, who understand this process and who will supply our recommended value of stock on consignment, sale or return. In addition to arranging the supply of this jewellery product, we will also provide a suggested list of percentage mark ups to ensure a gross margin that is worthwhile throughout your sale process.
Over an 8, 12 or 16-week period, our team look to achieve a good multiple of annual turnover and have achieved up to five times on occasions and never less than three.
Set-Up
Set-Up
At Whitehouse, we understand that the process of exiting your jewellery business can be a daunting task and will be there to continuously support you throughout all stages of your closing down sale.
In addition to our team providing advice throughout the process, we also provide an experienced member of our team for the preparation week and the week prior to the start of your closing down sale. This team member will be able to advise and guide you on the preparation of the store, training of staff, as well as any advice and guidance where required.
"The supply of key staff to organise and shape your offers is crucial. It’s very important to embrace this process rather than fight it and his [Karl Massey] team are incredibly professional. They appreciate they are dealing with someone else's business and their guidance is first class. They will take control when needed and then they empower you and your staff at the right time to enable you to take the sale forward."
Mark Thomas Jewellers, Stratford-Upon-Avon
It is our sole intention to achieve the best results for you.
For further information or to arrange a confidential initial discussion, without obligation, please fill out the enquiry form or contact us today.
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For further information or to arrange a confidential indepth discussion, without obligation, please fill out the contact form below.
Other Services
At Whitehouse we are here to advise, guide and ultimately achieve the best results for you.