Some people have always wondered why there are so many jewelry stores on St. John. From huge operations to individual fine designers. The answer may well be, as it always is in business, money.
Wharfside Village’s Palm Jewelers has just been listed for sale with an asking price of $525,000. The listing description makes it clear, this is a profitable operation, and operates in less than 700 square feet.
"Gross Profit (is) at 76% or estimated at $547,200 for 2008," it says. The listing goes on to say that if the owner was hands-on, working in the store, there’s even more money to be made because payroll would be less.
The home of the ‘hook’ bracelet, Palm has featured many handmade items as well as what the store’s Web site describes as an "eclectic array of handcrafted jewelry with precious and semiprecious gems set in gold and silver.
These better upscale retail stores like the listing you have here sell well in these tough markets. Nice property!