Price Changes
I’ve been running this business selling silver jewelry now for four years. In those four years I’ve never had any price changes. Simply put, I’ve had no reason for it. Now looking at sales being low, and the economy finally taking swing back up I’m looking into making some price changes. One of the things that prompted this was I just recently visited a jewelry store, which I used to be competitive with on their charm bracelets. I figured that they couldn’t have changed much in price being that charm bracelets aren’t nearly as popular as they used to be. Obviously I was wrong, they are now selling charm bracelets for nearly $200 each. I don’t plan on going up with my prices that high, but I do need to find a way to help pay for some of the new equipment for the business, as well as hopefully increase sales. One thing is I don’t want people to see cheap machine made jewelry at more than double my prices and automatically believe that it is higher quality.