Owning a jewelry store can be highly profitable — but it comes with unique challenges.
Unfortunately, due to the high value of items sold at jewelry stores, they’re a prime target for theft. But with the right systems and strategies in place, you can protect yourself, your employees, and your store.
Robust jewelry store security requires you to obtain the right equipment and educate yourself and your employees about sound policies, including how to react in a dangerous situation.
Check out our top eight jewelry store security tips, so you can protect your business and your customers.
Installing high-resolution security cameras both inside and outside of your jewelry store helps to deter theft from happening in the first place. If theft does happen, the surveillance footage these cameras capture provides evidence that’s helpful for law enforcement in apprehending culprits.
There are many options available for surveillance cameras. You can pay for a security system that monitors your store and automatically contacts the authorities in the event of a break-in, or you can simply buy cameras and monitor them yourself. Whichever option you choose, 24/7 surveillance allows you to monitor the safety of your store whether you’re on duty or not.
It’s important to decide who is allowed in which areas of your store, and to put a system in place that assures everyone stays where they’re supposed to be. For example, customers should typically stay in the storefront or lobby area, employees can be in the lobby area or behind the counter — but perhaps only experienced, trusted employees can enter the inventory room.
There are a variety of systems that can be implemented to maintain these policies, including keycards or biometrics. Keycards can be swiped for access, while biometrics use fingerprints, eye scans, or facial recognition to grant access. Ensuring only those you trust are able to access valuable items prevents theft and damage.
In addition to keeping your inventory and store safe, you need to keep your data and information safe. Using an all-in-one point of sale (POS) system keeps your sales and inventory information in one place, and allows you to specify employee permissions so that only those with passcodes are allowed access.
Investing in high-quality display cases and counters is another way to prevent theft. Although they may be a bit more expensive, the valuable jewelry they protect justifies the cost.
Tempered glass, reinforced locks, safes, and alarm systems that connect to display cases can deter theft and immediately notify you in the case of an attempted robbery. Take the time to research what equipment is best for your store. Then, make sure to educate yourself and your employees about how to use this equipment, so your store can continue to run smoothly.
An essential measure in preventing loss is to keep track of your jewelry store’s inventory. Not all instances of theft include a break-in or property damage, and some cases may not be immediately noticeable. Conducting regular inventory audits allows you to detect discrepancies in your inventory and identify whether theft has occurred.
The best way to keep track of your inventory is with a sophisticated point of sale system. Jewel360’s all-in-one cloud-based system keeps record of all inventory coming in and going out, so you can be sure all the numbers match up. Having a digital system that compiles this information for you streamlines your operations and helps you identify instances of theft, saving you time and money.
Related Read: 6 Top Jewelry Inventory Management Software Providers
Your store is only as prepared for an emergency situation as your least prepared employee. For this reason, all store employees should be thoroughly trained on policies and best practices for dangerous situations.
In the case of a robbery during store hours, employees should follow these guidelines:
Additional safety guidelines you set for your store may depend on the security equipment you install, guidelines from local law enforcement, and other factors. Train your employees to be vigilant in recognizing suspicious behavior to anticipate potentially dangerous situations before they occur.
In addition to cameras, you should invest in burglar alarms and panic buttons to keep your store safe. Alarms can alert you and the authorities if your store is broken into outside of operating hours, and panic buttons allow you to quickly alert authorities in the event of a robbery. However, panic buttons should typically only be used after a perpetrator has left, to avoid startling an assailant, who is likely to behave irrationally.
When you’ve installed an alarm system in your store, be sure to test it often to make sure it’s functioning correctly and that you remember how to use it. Show each employee how the system works and allow them to test it. Most systems should have a way to safely test its features without causing a false alarm for authorities.
Maintaining familiarity with how your alarm system works prevents you and your employees from being caught off guard if a dangerous situation occurs.
It’s a good idea to make contact with your local police department and share information with them as you set up your store. They can evaluate your jewelry store’s security setup and give you recommendations for how you can improve. They can also educate you about local trends in crime and best practices to keep your store safe.
Showing respect for local law enforcement and complying with laws, procedures, and investigations helps you build a relationship of trust with them. You might also be able to work with them on initiatives that benefit the community, like crime prevention programs. A good relationship with local law enforcement will benefit you, your store, and your customers.
Related Read: Networking and Collaborations: The Power of Partnerships in the Jewelry Industry
Obtaining the proper insurance coverage protects you from a variety of financial threats to your business, and could even save it. Before you choose your provider and plan, be sure to do your research to determine what coverage is necessary for your business.
Two important areas of coverage are liability and property insurance. Liability insurance covers you against any inadvertent damage to your customers’ health or property. Property insurance covers you against theft, loss, or damage to your own property — this could include your building, your inventory, or other property.
Meeting with an insurance agent can help you determine the right plan for your jewelry store’s security.
As a jewelry store owner, your safety and that of your employees should be your top priority. To maintain your business, you need to ensure the security of your property, too. When deciding which equipment to use in your store and which policies you’ll follow to ensure its security, remember these eight tips:
Continually keeping your business safe requires constant vigilance and proactive prevention. If new threats emerge, you may need to research them and invest in new solutions. As you keep safety in mind, educate yourself, and follow best practices, you can protect your jewelry store and your employees.
A POS system makes managing your store easier, so you can give more attention to safety and other important aspects of your business. A solid system also protects your data, including inventory information, sales, and customer information.
Jewel360 offers inventory management, online sales, website services, and employee permission settings to keep all of your data safe and secure. Contact us today to schedule a demo!