- How to start a successful jewelry business
- Benefits of buying costume jewelry by the dozen
- How to find suppliers
- Top 5 suppliers for costume jewelry
- Conclusion
Due to the increase in demand for jewelry worldwide, there is an increase in the supply of costume jewelry, also known as fashion jewelry, due to the material used to make the jewelry pieces.
The jewelry industry has changed over the years since before; jewelry was considered a luxury item.
Only the important people in society could afford; this mentality has changed as recently, more people are using jewelry to complement their everyday outfits.
The jewelry industry is also shifting to embrace the changes coming up since the industry is now heavily influenced by fashion trends.
How to start a successful jewelry business
Starting and running a business can be one of the most challenging yet fulfilling things one can do; with more people looking to supplement their incomes or leave their 9 to 5 jobs and establish their own business, small businesses are becoming increasingly popular.
Before starting your business, you will need to research and find out what is required; some of the most common guidelines on starting a business include;
Choose your jewelry niche.
There is a wide variety of jewelry options available, and therefore you need to minimize your choices to avoid challenges when sourcing for products or finding clients.
Having a niche will enable you to narrow down the wide choices available in the market and the suppliers.
Establish a business plan
A business plan includes the direction you want your business to head, and it may include both long and short-term goals that you may want to set for your business.
Your business plan should cover a wide scope of operations, and also it should be flexible to ensure that any changes that may occur can be included in the plan.
Find suppliers
Any business that involves the sale of goods will require that you find a supplier for products.
Therefore, the supplier is an important part of a business, and this needs you to research thoroughly to find a supplier who will provide you with a quality product at affordable prices.
The supplier should also ensure that the products are delivered at the specified time, which will enable you to run your business hassle-free.
Establish a website
Since most people prefer shopping online, having an online store is a bonus to your business’s success should you choose to own a physical store.
Some people may prefer to run their business solely online, and this may require that you invest in a website that can support all your business operations.
Market your business
Marketing will enable you to get a customer, which is a priority for a successful business.
There are various ways you can market your business, and therefore you need to find an option that you can easily use without incurring any losses.
You may decide to market your business through the various social media platforms free to join and operate, or you may choose to pay for promotions.
Benefits of buying costume jewelry by the dozen
Running a business has its fair share of challenges. Therefore, you have to be ready to sometimes deal with unforeseen problems regardless of how much you prepared beforehand.
Everywhere you look, there is information on how to run a successful business, but one of the most important factors you need to consider is the product you are selling since the customers mostly focus on the price and quality of the product.
When starting a jewelry industry, you will be required to source products wholesale.
Buying in wholesale has its fair share of challenges and benefits and therefore lets us look at some of the benefits of buying products in wholesale.
Lower price per unit
Buying products wholesale will enable you to purchase products at lower prices than the retail cost. The cost is usually set lower to enable you to make profits from the sale, and therefore when you buy in bulk, you will spend less during purchase, which will help you set a favorable price range when selling.
Greater variety
Buying wholesale will enable you to have a wide variety of goods to choose from within a niche. Having a wide option to select from will enable you to provide a larger selection of products for the customers to choose from.
Cheaper shipping costs
Buying products at once will save you a huge sum of money during shipping instead of buying individual units as you will receive one shipment over a period of time. Since wholesale products are transported as a unit, you will need to incur costs for the specific shipment sent to you.
Easy to buy already established brands
Buying wholesale will enable you to purchase brands that are in demand. Most buyers are more inclined to buy into a brand, which means that they will purchase a brand that they are familiar with. Sourcing products in bulk will enable you to buy brands that customers prefer, which means you can easily run a successful business.
Saves on time
When you buy in bulk, you will have ample time to organize your business since all the products will reach you at once as opposed to waiting on individual units which can arrive at different times, which can result in a lot of time being wasted that could be used to set-up and run the business.
How to find suppliers
Looking for suppliers can be like finding a needle in a haystack if you do not know where to start. Let us take a look at some of the common ways to find a supplier easily;
Online directories
There are various free directories online containing supplier contact information that you may use to identify a supplier based on your niche. Since there are many suppliers included in the directories, you may need to be specific in your searches to avoid confusion.
Google searches
This is the most popular way to find any information. Google searches will give you a huge list of suppliers, and sometimes the searches may be frustrating, especially if the supplier has not updated their website with the current algorithms that enable their information to appear on the top searches.
Trade fairs and exhibitions
All over the world, trade organizations will organize exhibitions where traders will promote their products .when looking for suppliers; these exhibitions are a great place to go as you will get to interact with different suppliers and have a one on one introduction to their products and how they operate which will help you make a more informed decision.
Referrals
When starting a business, you may opt to ask around for referrals from people already in the business. When finding suppliers through referrals, you will need to ensure that you look for a business that has almost the same structure as the one you wish to set up, and your goals are almost aligned as it will be easier when deciding on the supplier.
Top 5 suppliers for costume jewelry
Niahaojewelry
As one of the top jewelry suppliers, Niahaojewelry offers a selection of customized jewelry pieces that are easily accessible in all parts of the world. Niahaojewelry assembles unique products for each customer, making it easy for business people to run their unique businesses.
Being in operation for over 29 years enables Nihaojewelry to have more experience in delivering excellent jewelry pieces worldwide. With all the services in-house, you do not have to spend additional resources.
AliExpress
Aliexpress is an -eCommerce website that gives you access to a huge variety of jewelry from across the world. The platform consists of different sellers marketing their jewelry, making it easy for you to have many options.
The Welman group
The Welman group is a leading jewelry wholesaler based in the US. The company offers a wide selection of silver jewelry products for clients to choose from. Typically the company delivers products in less than 24 hours, especially for customers based in the US directly shipping them. The company also has a well-established customer care service to enable you to purchase products efficiently.
Jewelry world
Jewelryworld is a wholesale jewelry business based in the UK that supplies quality jewelry at affordable prices. With a market experience spanning over 20 years, the jewelry world can be trusted to supply the latest fashion jewelry trends that can sell easily to enable you to run a successful business.
VerySelection
This is a UK-based jewelry supplier that Ships products to over 200 countries; the company supplies quality pieces of jewelry at affordable rates while focusing on being flexible enough to provide the latest trends in the market.
Conclusion
Buying wholesale products has its pros and cons, but when starting a business, buying wholesale is the best way to be successful.
Buying wholesale will enable you to buy products in bulk, and you will have stock readily available for your customers. When buying wholesale, the major consideration you will need to take is finding a supplier since they are responsible for a major part of your business, which is providing the product.
