One of the most common businesses we see today is the jewellery business. People are trying to keep up with fashion trends, and jewellery is a vital part of it. You, as a business-minded person, can key into this and make some good money for yourself, whilst still meeting the needs of the teaming populace in pursuit of fashion. The basic way to do this is to start your own jewellery business.
Note that this does not mean you must make the jewellery pieces yourself. You can buy and sell or dropship. In this case, you won’t have to deal with inventory, renting a space or engaging in other complexities that come with having the products in stock.
In this article, I will carefully outline the process of starting your own jewellery business, without hassle.
Identify your product
This is typically the first stage of this process for varying reasons. You must identify the kind of jewellery you will be selling. Of course, this comes after deciding if you want to make them yourself or get them from a manufacturer. Will they be timeless pieces, beaded pieces of jewellery, gold or silver? What will be their worth? What is your price range? Who do you want to sell to? These are questions you should ask and answer before you set out to do anything else as regards this business. This process also involves writing a business plan, which will guide you to knowing your brand story, aims and vision.
Define your brand
Since you now know what kind of jewellery you will be making and the trajectory of your business, it is time to brand it. Choose a name and logo that resonate with the message you want to pass across to your prospects.
Get a good brand manager that can set up your brand portfolio, website and social media accounts. If you can do this yourself or you are on a budget, then learn more about branding. Just make sure you do it right.
Set up a jewellery studio or workspace
Look! I’m not saying you must go rent a studio in the high brow area of Lagos, Abuja or elsewhere. It can be a corner in your room. This point basically means that you should have space for the manufacturing of your jewellery pieces. However, this applies to you, if you are interested in creating the pieces of jewellery yourself. Nonetheless, if you will be buying from a manufacturer, you will still need this space, so you know a space is exclusive for your business. It will help you put things in order.
Contact dealers/start manufacturing
In both ways, this is the time for serious action. If you will be making the pieces of jewellery yourself, then get to work.
If you will be buying from a dealer and reselling at a profit, you will start making those contacts. If you also want to dropship, you will need to contact the manufacturers or the whole sellers. Just be sure that at the end of the day, you will be making a profit from each sale.Market your products
What is a business without marketing? Dead! At this point, you will have to engage in social media. You can create an online store or just sell off Instagram. You will need to take professional, clear-cut pictures of your products and post them online. Make them attractive to your prospects and keep talking about your business.
Featured Image Source: DMIAGot a suggestion? Contact us: editor@connectnigeria.com
You might also like:
- Personalized Marketing: What It Is and Why You Should Use It for Your Business
- How to Avoid Scams and Fraud in Nigeria
- How the Connect Nigeria Business Mixer Can Elevate Your Business
- How to Set Up a Bank Account for Your Nigerian Business: A Step-by-Step Guide
