When Sarah
Cornwell’s husband – who holds a Master of Business Administration degree – said
her long-time jewelry business was on the verge of closing, she knew she needed
help.
Cornwell, who
has been making and selling handcrafted and eclectic jewelry for 20 years,
opened her first retail space, Sarah
Cornwell Jewelry, in Doylestown recently. The former social worker
transitioned her love of gemstones and jewelry making to a part-time hobby two
decades ago. About five years ago the Doylestown native’s side side hustle
evolved into an online business with Cornwell selling pieces at area arts
festivals.
“What I really
love about the jewelry business, I think from being a social worker, is the
people,” she said of the in-person experience. “Our business skyrocketed during
COVID. Our sales were just amazing. But that’s not what was motivating. It was
the people being able to connect and talk and seeing relationships forming.”
Finding her
moment of clarity led Cornwell to shift from a mostly online sales environment
to opening a retail space in the center of Doylestown in September. Yet, the
evolution to her brick-and-mortar store almost didn’t happen.
“As we were
growing, we realized we had no idea how to grow,” Cornwell said. “We had no
idea how to do money.”
After reviewing
the numbers, her husband told Cornwell the business would likely be out of
money within a year. Mortified, Cornwell last year reached out for help from
SCORE Bucks County mentor Al Casadei, who assisted her in completely turning
around the financials.
“We call him
our protective financial grandfather,” Cornwell said of Casadei. “There’s no
way we would be here without him.”
Casadei
enlisted expertise from SCORE mentor Charlie Morris, who undertook an analysis
of their sales and promotions from digital advertising campaigns. Morris
determined that these campaigns were not profitable.
With this
information, they sat down with Cornwell and made a recommendation to
discontinue working with her marketing agency and reduce expenses in overall marketing.
While it was not an easy decision, it was the biggest pivotal change in
bringing her business to better profitability.
Casadei also
brought on mentors Joe Lutes, and Nina De Rosa for assistance with cash flow
projections and perspective on an employee handbook, respectively.
Since she began
mentoring with Casadei in spring 2022, her business is on a much better
financial footing. Cornwell has sold more than 6,000 pieces of jewelry in the
last year – a number she hopes to double with additional foot traffic that the
store brings.
“With the store
I get to be even more creative,” she said, adding that jewelry creation for
online-focused sales tends to center on making multiples of the same piece.
“With the store I can have more fun with one-of-a-kinds.”
In addition to mixed metal, gemstones and pearl jewelry designed and crafted by
Cornwell and her four jewelry makers, the store carries items made in the U.K.,
including handbags, makeup bags, travel bags, greeting cards, and Christmas
ornaments. The store also features blankets from Maine.
“Everything
we’re selling is women-owned brands that have a story to them,” she said.
“You’re walking into a story.”
Buoyed by
support from her SCORE mentors, Cornwell feels as if her story is just
beginning.
“If you come
into the store, we want you to feel good leaving and have an experience,” she
said of how her “17 women strong” team treats customers. “There’s no way I
could have done this without a good team. I don’t know how I got so lucky.”
About SCORE
Since 1964, SCORE has helped more
than 11 million aspiring entrepreneurs. Each year, SCORE
provides small business mentoring and workshops to more than 375,000
new and growing small businesses.?With more than 70 members across Bucks
and Eastern Montgomery counties, SCORE Bucks?County?provides over 4,300 free
mentoring services annually to local small business owners
through one-on-one counseling and small business seminars. To stay up to
date on news and happenings, join SCORE Bucks County’s email list. Text
SCOREBUCKS to 22828.
