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Jewelry Store – Design, Entrepreneurship and Advice

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How do you open a jewelry store?

The jewelry store is loved by most women and so this market turned out to be one of the most sought after by women entrepreneurs as well as men looking to invest in a new business.

In a way, it is not difficult to open your own store, but what is the investment needed to set up this store? Where to buy jewelry for resale? These are some of the most frequent questions in the life of those who wish to invest in this business and in today’s article I will try to remedy these few doubts.

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Keywords: setting up a jewellery store

It is best to start doing a little market research in your city to find out who your main competitors are, the types of jewelry most purchased by customers and also to enjoy more time to go and set up your own business plan. From the beginning it will also be crucial that you look for jewelry suppliers, you need to have contact with these suppliers before making any other investment for the new jewelry store. Your next challenge in this principle will be to choose the commercial point where you are going to set up, since this type of store has to be in an easily accessible place, with good visibility and it is important to have a good flow of people nearby. As for your interior space, there is no need to have a very large store, and you only need a sales area and a small bathroom, but with time and the growth of stores you can rent other larger space.

Equipment to build your jewelry store

The design of your store requires a good investment to work with, such as shelves, windows, a large service desk, chairs to accommodate guests, 1 computer with printer, packaging for the jewelry and more. Therefore, these will be the essential equipment to go to work in your new store successfully, but also remember to make a good decoration, worry about the ventilation of the room and the organization in general.

For the products they sell, you can work with a wide variety of things, such as earrings, rings, bracelets, chains, piercings and more. Buy directly from a good supplier who can offer products at affordable prices and in large quantities.

How much does it cost to set up a jewelry store today?

You can’t set up a jewelry store without thinking about the investment that this business will require and even though it is very small, it is spent on the rental point, decoration shop, equipment purchase, in general, all the jewelry stock and many other things. In general terms, your investment should be between $10 to $70 thousand, but it will all depend on many factors, ranging from the location of the facility to the amount of products you will put on sale.

Spreading to sell jewelry

Initially there is no need to hire many employees, and you can carry your own cash in the store and have to hire only 1 or 2 assistants to deal with customers, organize the store and restock the shelves. At the moment sales are high or you resolve to expand your business, then you can invest in hiring new employees.

A great alternative for outreach from the beginning is to use outreach in your city to bring new customers to your store and you can use radio ads, flyer distribution and also word of mouth marketing.

Remember that if you don’t want to put up a store you can also look at this publication Steps to start a jewelry rental business

Spreading to sell jewelry

Requirements for starting a jewelry store

It is important to know this business before setting it up, to know the value of the jewelry and to know the suppliers that are genuine, so that you can master the business and sell comfortably without problems of fraud or poor quality wholesale purchases.

Having a medium or small physical platform is important, so that the space can be distributed in the different showcases, together with the customer service portal, in this way the user can be attended to without losing sight of the people who enter the place for information and interest.

To have a commercial name, a registered company with its constitution, in order to establish the business without having problems with the tax authorities or public entities regulating trade.

Advantages of having a jewelry store

Jewellery goes hand in hand with precious metals, which means that you can make very good profit margins. Jewellery can be a very important attraction for the consumer, especially for the elegant woman who likes this sector of fashion and style.

In modern society jewellery is used as an accessory to look good and has always existed which makes this business one

of the best to establish in a shopping center, it is very strange not to notice a jewelry store in these centers, medium or large, so this fact determines that the business model represents an interesting way to make money.

Requirements for starting a jewelry store

Success stories of a jewelry store

Joyería el Rubí, is a successful company in this market space, because it is dedicated to the import, export, manufacture, marketing, distribution and wholesale and retail of jewelry, silverware, watches, jewelry and gift items, among others.

Joyeria Gold Princess Sl, is another company in the sector that has gained much success due to the production, wholesale, retail, export, import and repair of all types of jewelry, precious stones, jewelry, jewelry and watches. It also carries out wholesale trade of precious metals, jewellery, bijouterie and watches.

Problems that can arise in your jewelry business

The jewelry business is a demanding and progressive business. Attracting customers may not be easy at first. You may also find that you do not make large profits in the short term and must persevere in postponing the desire for profits until you have built up your business.

Final recommendation for a successful jewelry business

 Study the market well in advance and make a good business plan before setting up your jewelry store. Advertising and customer service are key aspects in the success of your jewelry business.