During the recession, the purchasing power of jewelry products decreased markedly, making many people feel shy when deciding to start a business. However, recently, with the prosperity of the economy, shopping for this item has started to be active again, especially when the price of gold is falling sharply. That is the reason for promoting the development of the jewelry store and is the start-up platform of those who are passionate about this field.
The experiences of opening a small-scale jewelry business below will help you gain more confidence to prepare to start a business!
Analysis of advantages and disadvantages when trading jewelry products
There are two important advantages that you can take advantage of when trading jewelry: One is being able to serve all types of customers, regardless of male or female, old or young, and regardless of regions. different domains. Secondly, the supply is abundant, you can choose freely to import the most beautiful and unique items to attract customers by your highlight.
However, the jewelry business is a lot more complicated than trading other items and than you might think. Large capital is a requirement that many people feel hesitant to invest. Along with that, you also need to have a “beautiful” location to open a store, you must invest in decorating the store in a shimmering way, and at the same time must be knowledgeable about jewelry needs to advise customers. during product selection.
Therefore, in order to do business smoothly and achieve success, before you start working, you need to have a clear and detailed business plan first.
Capital investment plan
Normally, to open a jewelry store with a small scale, you need an initial investment of about 70-80 million to pay for the following cost items:
– The cost of renting space is about 25-35m2 on a moderate street, costing about 3-5 million VND/month. However, you usually have to rent out for at least 6 months or 1 year.
– The cost of decorating the store is about 6 – 7 million, including decorating and buying necessary items such as glass cabinets, mannequins (neck, plastic hands, …), blinds (both beautiful and medium). cheap) to hang jewelry and even a small light system to help your jewelry cabinet look more sparkling.
– Import costs, in addition to traditional gold and silver jewelry, there are also products made from stone beads, beads, wood, etc., which are very popular because of their fashionable, diverse, beautiful, cheap and easy to change characteristics. change.
– Contingency expenses in the first few months of business.
A detailed plan of some of the tasks that need to be done
Legalize your jewelry business
If you only open a small-scale business store, and at the same time do not trade in jewelry classified as precious metals, you do not need to spend time applying for a license, just go to the ward to register your business. and pay flat tax in full as prescribed.
Choose a store opening location
The traditional rule when choosing a store opening location is the frontage in a densely populated area. However, because jewelry is a rather luxury item, you should avoid ordinary working-class areas, because their jewelry shopping needs will not be high and infrequent. It is best to rent a shop in an area with many office workers, high-class apartment buildings or supermarkets, commercial centers.
In the jewelry business, you need to be knowledgeable about this field, the design, the product properties and the consumer tastes of each different type of customer. If you only trade in ready-made jewelry products, you can easily import goods from many different sources. However, a mass-produced product is often unpopular because it is sold in bulk in the market. Therefore, if you want to be different to succeed, you should only import raw materials, then design and manufacture your own products, depending on your aesthetics and ingenuity to create handmade jewelry. Great.
Just like other business items, you need to arrange jewelry products in an attractive way according to each theme group, creating a yellow light effect to make the space more sparkling. Especially, it is recommended to coordinate the product set, including from necklaces, earrings, rings, bracelets, … for customers to refer and choose more easily.
Hopefully with the above experiences, you can be more confident when deciding to start a business with a jewelry store.