It happened at 7:00 p.m. Wednesday outside Ming's Jewelry in the unit block of South 52nd Street in West Philadelphia.
Detectives say the owners closed up shop for the evening and headed to their SUV, where four armed men were lying in wait.
The suspects forced the victims to the ground, even tried to handcuff them.
They ran away with bags of jewelry and cash, but ended up dropping them in their haste to get away, as they climbed over a 10-foot fence.
The victims did not need medical attention.
Police are looking for four African American men between the ages of 17 to 25.
Police believe they were armed with shotguns.
Anyone with information about the case or the suspects is asked to call Philadelphia Police.