Are Diamonds a Better Investment Than Real Estate?

Summary

In this conversation, Cory Schifter, Dominick Ciccarelli, and Rob Nixon discuss the jewelry business, specifically the value of investment in jewelry and diamonds vs real estate along with the transition from traditional brick-and-mortar stores to a more experiential business model. They also explore the differences between natural diamonds and lab-grown diamonds. The conversation also delves into the changing trends in the wedding industry, with smaller and more intimate weddings becoming more popular. The conversation concludes with a discussion on the shift to a boutique-style retail model and the benefits it brings.

Takeaways

• Owning the property where a jewelry business is located can provide stability and control over costs, especially in prominent locations. 
• Lab-grown diamonds have gained popularity as an alternative to natural diamonds, offering similar quality at a lower price point.
• The value of diamonds, whether natural or lab-grown, is uncertain in the future, making it important for customers and investors to consider their budgets and preferences. 

Chapters

00:00 Introduction and Background
07:54 Transition to a Store with No Merchandise
23:18 The Benefits of Owning the Property
29:55 The Importance of Employee Loyalty

Episode Resources:

👉 Blueprintforclosers.com
👉 Blog
👉 Apple Podcast
👉 Spotify

Thanks for listening. Want to watch the clips? Please follow us on socials.
linktr.ee/blueprintforclosers