How To Start Your Own Jewellery Retail Business

Even the biggest jewellery businesses in the world started somewhere with humble beginnings, so if you dream of starting your own jewellery business, take the first step.

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Make no mistake: it’s a competitive industry, so be prepared to work hard. Jewellery is incredibly personal, so whatever your style, there is someone out there who will share your look. People will continue to have birthdays and anniversaries or want to treat themselves.

What Does It Take To Be A Jewellery Designer?

It goes without saying that you will need to be creative and have at least a basic knowledge of design, but you will also need to be organised and determined, with an entrepreneurial spirit, in order to make the business side work. The jewellery is important, but if you want to make it work financially, you will need to put the business element first.

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Know Your Customer

Think about who will buy your product because that will help you to put together your marketing plan. Draw a “pen picture” of your customer considering their age, what they do for a living, and how they spend their free time. There is no point spending a small fortune on advertising in magazines if your customer doesn’t read them. Consider how he or she likes to shop, and if you are planning on selling it as gifts, do you need to market to a different audience?

Financial Help

If you start small, you might be able to launch without additional financial resources. Otherwise, you might consider a financial boost by way of a loan from a bank or other backer. Before going down this route, be very clear about what sales you plan to make and when. Create a plan, then plan some more. Be realistic.

Once you’ve got as far as a name and a product, it’s time to let potential customers know about it. If you plan to open a physical shop, look into in store media from specialists like Mood Media If you’ll be online-only from the start, get some tips from authorities like Small Business.

In this industry, the phrase “all that glitters is not gold” is particularly true. To make it work, you need to put in the effort. There is no such thing as too much planning!