Choosing to keep your repair in house or to outsource without understanding the benefits of each could cause you to spend an extra 30% for no reason! Read on to learn how you can make the best decision for your company.
The jewelry industry is directly affected by the economic situation, so when the economy isn’t doing well, businesses take a hit. During this time, it’s more important than ever to re-evaluate your operations in order to maximize efficiency.
Pros of In-house Repairs
- You can oversee all work and ensure the consistency of quality
- You don’t need to ship out the work and the items stay in your shop the entire time it’s being worked on, which gives peace of mind.
- You can offer faster turnaround time
- You can offer personalized customer service with direct jeweler to customer interaction, which can help to close sales.
Pros of Outsourcing Repairs
- You save up to 50% as you’re only paying for labor, not wages, insurance, and materials.
- You have the decision to choose trusted specialists to do the job.
- You can access new technological developments in the repair field without additional cost, as your repairs provider is the one investing in them (ex. stainless steel repair equipment.)
- You can choose a repair house that offers airtight security, which will take the pressure off you to find someone that you HAVE to trust rather than someone who you CAN trust
- Outsourcing allows for unlimited supply of skilled jewelers and talent in a landscape where the main generation of jewelers in the US are starting to retire. As a result, you don’t have to worry about finding their replacements if you’re not running an in-house shop.
- You can retain efficient turnaround time, as some repair houses are almost as fast as in-house repairs when it comes to finishing orders.
Through knowing this information, you can now knowingly decide what the best option is for your business.