How To Start A Successful Jewelry Business – A Beginner’s Guide to Entrepreneurship

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Whether you want to add an extra income or want to start a business to achieve freedom of wealth, it is a very important thing to be able to have a business of your own. Jewelry is an essential accessory for many people, and the huge consumer market behind it is one of the preferred business directions for many entrepreneurs. Jewelry is expected to reach $300 billion by 2025 due to its light weight, variety of styles and high profits, making the jewelry market growing in value. This article will start with exploring the potential opportunities in the market and take you through how to find the right wholesale jewelry supplier and how to start a retail jewelry business step by step.

Choose a direction that suits you

Find a niche

Since you have decided to open your own jewelry business, then the first step is to dig the current market has the most potential for sales of jewelry products, due to the variety of styles and materials of jewelry products, entrepreneurs are often unable to quickly find the right product direction from a large number of products, then we should get some of the current market hot-selling products as a reference, such as check Amazon, Speedy, Eaby or If you can have the patience to read the customer’s comments in the product review section, I believe you can have unexpected gains.

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 Choose the right direction for your product

By continuously understanding the information of hot products in different markets and analyzing the reasons for the hot products, you will accumulate a lot of keywords about the hot products, and then verify the search trends of these products in previous years with the help of a keyword search trend tool of Google (trends.google.com/trends/explore), and combine the keyword search trends to determine whether the products have certain sales potential. Through the above way to continue to subjective judgment and data on the objective verification, after your unremitting efforts, you can certainly dig the direction of the selection of products belonging to you!

Identify the market and demographic profile to be sold

After the investigation to do a clear direction of the product, the next need for these products to clarify the market and consumer profile to be sold, before starting this work we need to know is that, due to our limited experience, no matter what kind of data research and prep work we have done, in the back of the sales work, we are likely to encounter setbacks, because we make all the judgments are based on our existing knowledge, and due to limited experience our knowledge may not be comprehensive enough. Is based on our existing knowledge, and due to limited experience our knowledge may not be comprehensive enough, which often leads us to some of the trends of the wrong judgment, so this work is always needed at any time throughout our career, need to be constantly investigating, analysis, marketing and sales verification, to obtain the experience of failure and then correct the direction.

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How to find wholesale jewelry suppliers

After determining the products you want to sell, the next step in the process is to find the right wholesale jewelry supplier for you, listed below are a few ways for your reference.

Exhibitions

Jewelry manufacturing factories and wholesale suppliers attend industry investment fairs around the world every year in order to expand their customers, and you can get information about such fairs by asking friends and through local news media. For jewelry suppliers, trade shows are by far one of the most effective ways to get customers.

Google

Google is one of the most frequently used and easiest and most efficient ways to search for information. You can type “wholesale jewelry” into the Google search engine to find wholesale jewelry suppliers, and because of the large number of results, you will need to spend some time visiting the supplier’s website to learn about their products and various trading policies.

Business Directory

You can enter “Wholesale Jewelry Supplier Directory” in Google search engine, find the corresponding directory website in the natural search results and click into it to learn more.

What is the best wholesale jewelry website?

Yeajewel is a jewelry supplier from Yiwu, China, with 20000+ fashion jewelry and hair accessories and other products. Yeajewel has its own jewelry factory and design team, able to undertake OEM/ODE orders, free design, with fast mass production capability. all products of Yeajewel are self-owned, so it has a strong competitive advantage in terms of price. Yeajewel has been serving overseas users for 9 years and has established strong partnerships with thousands of overseas retailers, boutique store owners and Yeajewel is your reliable partner as we have established strong partnerships with thousands of overseas retailers, boutique owners and jewelry wholesalers.

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How to start a retail jewelry business?

Choose a suitable website domain name

A good website domain name must be short or very easy for customers to remember. Imagine that the customer sees your product advertisement and enters the website, most people may not make up their mind to buy at that moment, but in his mind has left the memory of this product, in the future one day, a certain scene, or for some reason touched him, so he decided to buy This product, so how does he find your website and find this product accurately?

This time a short or easy to remember the domain name is particularly important, customers can quickly enter your short domain name in the browser and visit your website, or your domain name is slightly longer, but with some kind of meaning to impress him, so that when customers visit your website again, the chances of purchase is greatly improved. Imagine if your domain name is a long string of letters without any meaning, what are the chances that your customers will remember it accurately?

Select a website builder

If entrepreneurs plan to create their own online store for retail, you can complete the task of building a website through a website building tool such as shopify or wordpress. If you have no previous experience in building websites, I would prefer that you use shopify as a tool to complete the website, because shopify, a company that has been running for many years, is simpler to operate in various ways and is more friendly and less costly for newbies.

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Pricing your jewelry products

You can search your competitor’s website for the selling price of the same product by using Google’s image search tool (https://images.google.com/imghp), because you can get the purchasing cost and logistics cost of the product at the supplier, through these two costs you can easily calculate the competitor’s gross margin, and based on this gross margin you can easily calculate the selling price of your product. What you need to know here is that the price you set is not set in stone, as your business expands, you will gradually clear your operating costs, slowly you will master your net profit in what range, by accurately controlling your net profit to reverse a most appropriate product selling price range, and then a comprehensive competitor’s product selling price to accurately develop a most suitable for their own product pricing rules.

Improve the content of your website

A complete product detailing can increase the user’s dwell time in the website, the longer the user kinda slips in the website, the higher the chances of purchase. A complete website shipping policy, return policy and privacy policy can dispel customer concerns. You also need to set up a promotion with a call to action for your website to prompt users to complete their purchase as soon as possible. You can also write a blog on your website to get natural traffic, which will also increase the time users stay on your website.

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Develop a reliable marketing strategy

Next you need to promote your website or product, you can choose the mainstream marketing channels for advertising.

Facebook

I always think it is very unwise to persistently post on facebook as the main customer acquisition channel. Due to the rise of paid ads, customers’ limited time is occupied by various social media ads, and it is difficult to get a lot of views and clicks on your posts through facebook’s natural push, so paid ads on facebook may be one of your customer acquisition You can learn ad placement skills step by step through various blogs and videos online.

Google

Google and facebook are the two largest paid advertising channels, they are different in the form of advertising, advertising on facebook customers are passively receive your advertising information, while advertising on Google is the customer in the active search for a specific product to see your advertising information, so you need to combine the characteristics of your products and customer groups to choose the appropriate advertising channels.

EDM

Email marketing is still one of the effective channels to get customers, with the accumulation of marketing activities, the number of users leaving emails on your website will be more and more, you can make a beautiful email every week to attract users to click to see, because the cost of sending emails is low, and the recipients are more accurate users, so email marketing must be a channel you can’t miss to get customers.

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Last Words

    Starting your own jewelry business will not be as difficult as you think, when you make up your mind you have actually taken a big step on the road, I hope this article can be of help to you.