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Some say, “All you need is love,” and others say “Money can’t buy you love,” but no matter what you believe, love is a big business.
From dating services to florists, from chocolates to jewelry, many businesses are built on the foundation of love. Each year Americans spend $9 billion on flowers (Society of American Florists) and in 2006, Americans spent more than $13.7 billion on jewelry for Valentines Day alone. It does not stop there. In 2003, online personals, dating and socializing sites generated $449.5 million in subscription sales, which is expected to grow to $642 million by 2008. According to the numbers, love can be bought, and it comes at a lofty price.
It is estimated that Americans spend $125 billion a year on weddings, according to a new survey conducted by Fairchchild Bridal Group. The average cost of a wedding at $26,327 and is rapidly approaching $30,000.
“The bridal industry is now a life stage that encompasses fashion, travel, home furnishings and more,” said Daniel Lagani, vice president and publisher of the Fairchild Bridal Group’s publications.
Setting the mood
Romance creates a euphoric state often associated with love, and in the process of setting the mood, costs are incurred. Whether the setting is a restaurant or at home, wine has always been a staple of a romantic meal. In the last few years wine bars and specialty wine shops have been opening, catering to the Collin County resident.
The newest arrival is Tiffini’s Wines in McKinney. On its opening day, the With a color theme to reflect its unique style, Tiffini’s Wines displays a modern, contemporary atmosphere with a vast wine collection. Miller has worked diligently for the past year to make his dream a reality.
“I always wanted to own a business, and this is something I love doing,” he said.
Miller decided on McKinney for a variety of reasons. Between the studies published in the local newspapers indicating the affluent nature of the area, as well as the family oriented community that offers an abundance of entertaining, it seemed the perfect spot.
“This area gets so much traffic from Custer Road all the time that I just knew I’d have a great response. People around here enjoy entertaining in their backyards and for various events, so I felt there was a need for a specialty store of wines,” Miller said.
Miller has taken it upon himself to support local wineries by showcasing Texas wines. He carries many local wines, includinig wines from Crossroads Winery in Frisco.
Tiffini’s Wines specializes in its ability to pinpoint what customers may already like when they first enter the store. Miller also offers his own insight on wines similar to a customer’s existing preference in the event they may desire to try a new wine.
“If I have a wine available that’s already opened I’ll always offer them a taste. I want to see what they like and try to point them in the direction of other flavors they might also enjoy,” Miller said.
Tiffini’s Wines provides a selection from around the world, ranging from South Africa to Germany. Miller emphasizes that his store does not offer the usual, typical wine selection found at a local supermarket. In addition, every few weeks Tiffini’s Wines features a new wine, one that is not available in other stores.
“On my opening day I sold out of my Cabernet Syrah Merlot, which completely shocked me. People were willing to try my suggestions and they evidently appreciated my advice. Tiffini’s Wines offers customers the convenience that people want. They’re able to avoid the hustle and bustle of a grocery store, the long lines and the sometimes overwhelming selections,” Miller said.
The Wine selection is priced, on average, between $10 and $25; however, Tiffani’s carries a selection of premium wines. The most popular choice thus far has been the Merlots, but Miller has a particular preference for the Cabernets from South Africa and most medium-bodied wines. Although the recently opened business has experienced a steady flow of customers, the busy season begins in October and runs through the December holidays.
“In this business, October through December is known as the OND period (October, November, December). Wines sales are up due to lots of parties, family gatherings and other celebrations,” Miller said.
Miller was not always a wine connoisseur. Originally he started attending wine-tasting events and began to enjoy lighter, white wines. He then moved to trying various red wines and eventually acquired a passion for cabernets and merlots.
“My wife and I realized that we were beginning to collect wines at our house, so we eventually decided to open our own business. I really think I have the best job anyone could ask for. I get to meet new and interesting people all the time, talk about various wines and help people find a flavor they enjoy,” Miller said.
Visit www.Tiffiniwines.com for more information.
What may be a girl’s best friend can be pricey
It’s said that diamonds are a girl’s best friend; however, with the rarity of naturally mined diamonds, the prices for even a small stone are often more breathtaking than its appearance. This is no longer the case, as laboratory-grown diamonds are becoming more popular, both for their price and for their astonishing equality to the natural stones.
Laboratory-grown diamonds are being created around the country with the gem quality of naturally mined diamonds. These stones are often referred to as synthetic or cultured diamonds, but they all possess the same physical, chemical and optical quality of natural diamonds, according to the Gemologist Institute of America (GIA).
“My customers can have custom molds and carvings done for so much less than if they were working with natural diamonds,” said Andrea Held, owner of Stone River Jewelry.
Normally, natural diamonds take millions of years before they are ready to be mined; however, laboratory-grown diamonds are made in hydraulic presses that mimic the pressure needed to create a natural diamond in only a few days. As with natural diamonds, there are different grades among man-made diamonds. There are both lower and higher-quality man-made diamonds. The lower-quality diamonds are usually used in tools for sharpening and cutting metal due to their incredible strength, whereas the high-quality diamonds are mostly found in jewelry. Interestingly enough, colorless stones are rare among man-made diamonds, yet in much more abundance in the natural environment. On the other hand, colored stones are much easier to grow in a laboratory, but are very rare in the environment.
“Although my customers have so many options when they have a custom stone made, the more traditional cuts such as classic round solitaire and princess cuts are still the most popular requests,” Held said.
Also, a majority of man-made diamonds are 2-carats or smaller, and the GIA will not provide a grading for synthetic stones, which consists of a certificate describing a diamond’s cut, clarity, carat weight and color. However, the GIA will produce an identification report that states that a stone is synthetic and gives its measurements, transparency and carat weight.
According to the GIA, the naked eye is unable to pinpoint the difference between a man-made diamond and a natural diamond; however, some jewelers who object to the use of synthetic stones insist they can. In an effort to distinguish between synthetic and natural stones, the GIA has made two different machines that enable jewelers or labs to detect a stone’s authenticity. These two machines range from $10,000 to about $50,000. This is the primary reaction of the natural diamond industry to the introduction of synthetic stones on the market.
On average, consumers will save approximately 30 percent or in many instances even more when purchasing man-made diamonds.
“Man-made diamonds in my store are priced anywhere from $800 to around $3,000. We save our customers thousands of dollars on jewelry. A 1-carat diamond here is about $300, whereas a 1-carat natural diamond can be up to $6,500,” Held said.
Now consumers finally have the option to purchase jewelry that is breathtaking in appearance, not in price.
by Stewart James, Sam Bick and Ashley Alber
http://www.insidetxbiz.com
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