Learning how to start a costume jewelry business can be profitable, as it is not only bought and worn by female consumers of all ages, but also purchased by males to give as gifts. The costume jewelry business is flexible, as there are many ways you can start and grow your venture, and it can be operated on a full or part-time basis. Target a niche, or specialization, for your jewelry business. Doing this will enable you to focus on buying only one type of costume jewelry and distinguish yourself from your competitors.
Printing Press Publishing Houses and Authors Branding and Advertising agencies As well as all types of individuals Our Competitive Advantage Surviving in the business world as a jewelry maker and retailer requires more than just expertise.
This means that one must know how to deliver standard web online jewelry business plan, but also how to network with key people that matter, and decision makers. Without a shadow of doubt, there are loads of big time investors, that have a stake in the jewelry making trade; but one thing is certain, there is room big enough to accommodate both the big jewelry making and retailing business and the small ones.
The Online Jewelry Store Business Plan is a comprehensive document that you can use for raising capital from a bank or an investor. This document has fully automated 3 year financials, complete industry research, and a fully automated table of contents. The template also features full documentation that will help you through the business . The Home of the 4 Hour Investor Grade Business Plan. Faster investor quality documentation using HyperQuestions. Maire Loughran, who built her jewelry making business from the ground floor up, writes and lectures on the topic of how to start a home-based tranceformingnlp.com also acts as a mentor to other new, jewelry making start-ups. Loughran is a member of the American Craft Council, Society of American Silversmiths, and the Society of North American Goldsmiths.
All the areas where a whole lot more can be tapped from has to be explored to get the best of this trade. We are quite aware that to be highly competitive in the jewelry making and retailing industry means that you are not only expected to be able to deliver consistent quality products, but you must be able to meet set targets.
It is for this reason that our competitive advantage lies in the power of our team; our workforce. We have a team of creative and highly proficient jewelers, a team with excellent qualifications and experience various niche areas in crafts and fashion industry.
Aside from the synergy that exists with our carefully selected jewelers and services will be guided by best practices in the industry. Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category startups jewelry making businesses in the United States in the industry.
It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives. Our sales and marketing team will be recruited based on their vast experience in the fashion industry and they will be trained on a regular basis, so as to be well equipped to meet their targets and the overall business goal of La Chic Accessories.
Our corporate goal is to grow La Chic Accessories to become one of the top 10 jewelry brands in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the United States of America but also in other parts of the world.
La Chic Accessories is set to make use of the following marketing and sales strategies to attract clients; Introduce our jewelry making and retailing company by sending introductory letters alongside our brochure to individuals, corporate organizations, religious organizations and key stake holders.
Promptness in bidding for jewelry products contracts from the government and other cooperate organizations Advertise our business in relevant business magazines, newspapers, TV stations, and radio station. List our business on yellow pages ads local directories Attend relevant international and local fashion expos, seminars, and business fairs et al Create different packages for different category of clients in order to work with their budgets and still deliver excellent design and services Leverage on the internet to promote our business Engage direct marketing approach Encourage word of mouth marketing from loyal and satisfied clients Sources of Income La Chic Accessories is established with the aim of maximizing profits in the jewelry making and retailing services industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.
La Chic Accessories will generate income by offering the following fashion related services; Designing jewelry for both corporate clients and individual clients Developing unique designs on a large scale Training and grooming newbies Offering consultation services to fashion organizations Sales Forecast It pay a great deal to have our sale forecast established at the outset.
One thing is certain; there would always be corporate organization and individual who would need the products and services. We have been able to critically examine the jewelry making market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in New York. Below is the sales projection for La Chic Accessories, it is based on the location of our business and of course the wide range of our services and target market; First Year-: Please note that the above projection might be lower and at the same time it might be higher.
Our Pricing Strategy One of the tools that we plan to employ is to make our pricing a free for all affair.
At La Chic Accessories we will keep the prices of our services below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services.
In addition, we will also offer special discounted rates to all our customers at regular intervals. We are aware that there are some one — off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.
Payment Options We intend to make things extremely simple for our clients, and that is why we want to make sure that there are several payment options. At La Chic Accessories, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them.
Here are the payment options that we will make available to our clients; Payment by via bank transfer Payment via online bank transfer Payment via check Payment via mobile money Payment with cash In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.
We have been able to work with our in house brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.
We are set to become the number one choice for both corporate clients and individual clients in the whole of the United States and beyond which is why we have made provisions for effective publicity and advertisement of our jewelry making and retailing company.
Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al. Therefore, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a jewelry making and retailing business; it might differ in other countries due to the value of their money.
They are the sole financial of the business which is why they decided to restrict the sourcing of the start — up capital for the business to just three major sources.
These are the areas we intend generating our start — up capital; Generate part of the start — up capital from personal savings and sale of her stocks Generate part of the start — up capital from friends and other extended family members Generate a larger chunk of the startup capital from the bank loan facility.
All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited. Sustainability and Expansion Strategy The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure.
One of our major goals of starting La Chic Accessories is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our jewelry products a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
La Chic Accessories will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more.Maire Loughran, who built her jewelry making business from the ground floor up, writes and lectures on the topic of how to start a home-based tranceformingnlp.com also acts as a mentor to other new, jewelry making start-ups.
Loughran is a member of the American Craft Council, Society of American Silversmiths, and the Society of North American Goldsmiths.
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