LINK Business Broker Ray Gilroy says Fishers Jewellers is a profitable purveyor of fine jewellery, which has been part of the fabric of Northland as long as anyone can remember.
Operating from leased premises at 6 Cameron St, Whangarei, the business is now on the market for sale.
Gilroy says he has known the present owners for many years.
"Fishers is a friendly, sophisticated and highly customer focused store, whose welcoming atmosphere is unequalled".
"There is a vast range and selection of stock; from finest watches and jewellery through to a range of well-priced high-quality gifts."
He says the company provides genuine 'old school' service from its trained long serving sales team many of whom have been employed at Fishers for between 11 to 13 years. The three qualified jewellers have also been associated with Fishers for a long time, one of which has completed 42 years' service since originally been trained at Fishers many years ago.
Fishers has a savvy multi-media marketing presence spanning online, radio, newspapers and social media which links this progressive company to a huge customer base generating over $1.8m in annual sales.
"For its top-class premises, Fishers have a 10-year lease running through to 2025 at a very favourable rental," Gilroy says.
He adds that "highly regarded is an understatement" when applied to Fishers Jewellers, which has operated in Whangarei since 1924
"There is a story that the original owner Arthur Fisher many years ago sold engagement and wedding rings to a young couple, telling them that if they celebrated a golden wedding he'd give them a special prize. This couple returned to the store recently and sure enough the present owners Neville and Mary Walker were delighted to make good on the promise."
Gilroy, sees Neville Walker as a man of the highest integrity — someone whose career deserves to be celebrated.
"Neville a qualified jeweller and gem buyer who remains passionate about this business, but feels it's time to pass on to the new owner with equal drive for success," says Gilroy.
The business sells high end fine jewellery designed and manufactured by in house jewellers, creating the Fishers signature range of bespoke custom jewellery, engagement, wedding and diamond rings.
Top leading World-wide brands are sold by Fishers including Pandora, Swarovski, Thomas Sabo, Karen Walker, Kagi, and watches including Seiko, Lorus, Daniel Wellington and Olivia Burton.
The business operates three different business units — retail, wholesale and manufacturing (fine jewellery, repairs, remakes and valuations). Each of these has sales and profitability targets, being independently managed by experienced staff reporting directly to the management team.
Fishers has three highly experienced jewellers in house, as well as an on-site stone setter. Each are talented jewellers with impressive expertise, sharing a passion for creating fine jewellery. This team provides advice on the technicalities of bespoke jewellery design, as well as performing exceptional craftsmanship.
Because these jewellers work alongside the retail team, there is an added value to clients when they have their jewellery repaired and professionally cleaned all in house.
"Customers' precious jewellery is not 'sent away' to be repaired. The manufacturing business unit is responsible for the workshop jobs including all quotes, handmakes, repairs and valuations."
Gilroy says the company has a comprehensive marketing plan which is 'results focused'. There is a full complement of marketing solutions including radio advertising with both NZME and Radioworks stations. The radio advertising is targeted at different demographics with different adverts to reach each demographic.
The business has invested in a new e commerce website where customers can purchase on line, with 2000 plus items offered and growing weekly.
The website marketing programme includes Google AdWords campaigns and Search Engine Optimization (SEO) which is externally managed by SEO professionals. Included in the marketing plan is promotional advertising both in store and internet based and a social media marketing programme.
The business IT system includes, POS, invoicing, customer database, stock entry, stock valuation, suppliers, an auto ordering facility and payroll system. It also allows accurate reports on all aspects on sales and profitability.
There is also comprehensive documentation for the business including a business plan, marketing plan, pricing guidelines, GP margins, operational manuals, health & safety, management reporting and up to date employment contracts.
The financial management of the business is well defined and operates on a set of business rules developed over many years, says Gilroy.
"This includes interaction and oversight on all purchases, cashflow management, management reporting, budgeting, stock movement and profitability."
Supporting the financial process is an external accountant who has worked with the business for many years and is very familiar with the financial operation and performance of the business."
"You will find Fishers 'open for business' Monday to Friday 9am to 5pm and Saturday 9.30am to 1.30pm."