SummaryIn 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.TakeawaysOwning 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. Chapters00:00 Introduction and Background07:54 Transition to a Store with No Merchandise23:18 The Benefits of Owning the Property29:55 The Importance of Employee LoyaltyEpisode Resources: 👉 Blueprintforclosers.com👉 Blog👉 Apple Podcast 👉 Spotify Thanks for listening. Want to watch the clips? Please follow us on socials. linktr.ee/blueprintforclosers

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