Most jewelers want the expensive address.
The upscale mall. The fashionable street. The corner where people with money already are.
It makes intuitive sense. Sell luxury goods where luxury shoppers walk.
Shane Co built freestanding stores in ordinary commercial areas instead. Plenty of parking. No mall. Nothing glamorous about the location at all.
That is a deliberate choice, and it reveals something useful about how the jewelry business actually works.
Because in retail, rent is not just an expense. Rent is a decision about who pays for the building.
And in jewelry, the customer always pays for the building.
Once you understand that, a great deal about pricing becomes clear, and so does something about your own finances.
Let me walk through it.