How to start a jewelry business with a limited budget?
How to open a jewelry store with a limited budget? What are the management skills in the process of opening a jewelry store? Do u know how to choose a jewelry store fixtures? Nowadays, with the continuous rise of the world’s economy, jewelry has begun to grow younger. If you want to franchise a jewelry store at this time, you need to know more about the actual inside information of the jewelry industry.
When franchising a jewelry store, the first question is how to join, then how to operate, and finally what are the precautions. Now, follow this guide tips, you will understand the business secret that jewelry boss never tells you.
#How to franchise a jewelry store
There are 3 main issues that you should figure out when you step into a jewelry brand franchise paradise. As we know, jewelry franchising is one of the most popular ways to start a jewelry store business. So, we will understand all the producers at all.
Jewelry brand and franchise fee
The cost of franchising a jewelry store mainly includes the following:
- shop decoration and rental cost,
- the annual cost of the distribution right,
- deposit, management cost,
- ERP usage cost,
- equipment cost,
- first inventory purchase cost,
- advertisement and publicity cost.
- personnel salary cost,
- flow bonus, etc.
different jewelry brands will have different cost standards. In order to attract investment, some jewelry brands may not charge some fees, so the difference in total investment fees of franchise stores is quite large.
This picture is provided by the registered user “the most fashionable * fashionable style”, and the copyright notice feedback. Please refer to the information released by jewelry brand investment promotion for the details of the in-store franchise and franchise fee.
Conditions for jewelry stores to franchise
- Have sufficient personal time to manage the store and get strong support from family members.
- Franchisees must identify with the concept of the brand, everything of the brand, and accept the complete business model of the headquarters.
- Have sufficient investment funds.
- The franchisee must have an independent store or business place in the regional market and pass the headquarters evaluation.
- franchisees should have a vision for development. They must invest a certain amount of energy, pay attention to the development of the industry, understand the development rules of the industry, and enhance the visibility of the stores
- Good business reputation and moral character are required.
- Have a strong and positive entrepreneurial spirit, and devote themselves to franchise store operation.
Precautions for franchising a jewelry store
- Hire professional personnel to manage franchise stores, or learn professional knowledge and skills by yourself, at least learn how to identify genuine and fake jewelry, know why the quality of jewelry is high and why it is low, etc., so as to avoid being cheated by black merchants.
- Negotiate with the jewelry company on cooperation matters, and then sign a franchise contract. In the preparatory work of the officially invested jewelry store, including the decoration and design of the store, the recruitment of shop assistants, the publicity and promotion of the store, etc., these are all the things that need to be done in the process of franchising the jewelry store.
- The business plan of jewelry stores should be divided into short-term, medium-term and long-term. Since we want to publicize and start a business and choose to franchise the jewelry store, we should carefully carry on the business. If there is no plan, many things will not be carried out in order, so we need to take this into account when franchising the jewelry store.
- There is no free lunch in the world, and there is no benefit for nothing. Therefore, when a jewelry store franchises in, it needs to be careful and attentive, and it needs to learn how to distinguish. It needs to investigate and pay the franchising fee after it is clear. Don’t let yourself be cheated and suffer losses.
#Jewelry store opening process
1, Prepare enough funds
Jewelry stores are different from general stores, because of the particularity of products, they need more funds. In case of insufficient funds, entrepreneurs can apply for loans by their own ability.
2, Market Research
The markets in different regions will be different, which requires entrepreneurs to conduct necessary market research. Including the economic level, customers’ consumption habits, etc.
3, Application for franchising
- (1) ask for the franchise brief (confirm that you are full of hope for the jewelry industry and agree with chain operation).
- (2) investigate the local market (further investigate the local market according to the successful experience of the headquarters).
- (3) visit the headquarters and franchise stores (the headquarters invites the franchisees to further understand the jewelry industry).
- (4) fill in the franchise application form, and the headquarters will review the franchise qualification.
4, Location of the jewelry store
Jewelry stores should be located in the business district, and the best jewelry stores nearby are relatively concentrated. No more than 300 meters from the most bustling center. The other is to consider the flow of people. The flow of people mainly focuses on two indicators: the number of people and the quality of people. Only a place with a good number and quality of people flow is worth opening a shop.
5, Decoration design
The jewelry store display decoration is divided into interior decoration and outdoor decoration. The interior mainly includes the style of the jewelry showcase, retail counter, lighting, wall, ceiling, etc., while the exterior includes the door, window, and signboard.
6, Choose the jewelry supplier & manufacturer
This link is very important. The product is the capital to attract customers. If there is no high-quality product, customers will certainly not patronize and the revenue will not rise.
7, Personnel Recruitment and training
The shop assistant should know more about the jewelry, and mainly young people.
8, Publicity and promotion
The necessary promotion shall be carried out before the opening of the store. Advertising paper can be distributed in each street, or billboards can be made on the main traffic roads. The investment in advertising is completely based on the ability of the investors, and then the store can be ready for opening.
# Jewelry store management
- First of all, keep up with the trend. Each jewelry franchise store should have its own style. The store is not necessarily large, but it should keep up with the trend and complete the products to meet the needs of consumers of different ages. This requires different requirements from many jewelry franchise stores. Jewelry consumers still have a subconscious choice for jewelry franchise stores psychologically. Many consumers say the first impression of the store is important. The shop with unique and interesting decoration will surely attract more attention.
- Next is the sales strategy, which is also crucial. To make full use of different sales methods, such as membership card, no bargaining, special price area, characteristic area, theme sales, holiday sales, etc., first set up the rules in the store, firmly grasp the psychology of consumers, so that consumers can accept your business mode, so as to enter the market, improve the popularity of jewelry stores, achieve consumption at one time, and stabilize the source of customers.
- Another point is to reflect the characteristics of jewelry stores. Choose what kind of signboard to do according to the characteristics of your shop, and keep the signboard consistent with the characteristics of your shop. In many jewelry franchised stores, consumers should be able to remember the name of your store for the first time, which means that your sales style has been accepted by him. And it must be fashionable, otherwise, it can’t reflect its own jewelry franchise store.
- The last point is the support of the headquarters. For the franchised partners, the entrepreneurs do not need to have certain technology and experience, but can directly apply the successful experience and management technology of the headquarters, and get the long-term guidance and service support of the franchised headquarters. It is very important that the franchised partners can use the successful alliance business system to create their own businesses, thus saving exploration time.
# Precautions for opening a jewelry store
Understand the supply price of products of a chain franchise company
Why do you need to know the supply price? Because business is all for flow, I believe everyone knows the importance of price, but how can we know the real price? First of all, in the initial inquiry when joining, usually a company will not disclose the product supply price to you, after all, this is a company’s relatively secret information, which requires some skills Go to understand the supply price of the products of the chain franchise company.
The popularity of commodities in the market
If you join a jewelry store, will you choose a jewelry store you haven’t heard of? Of course not. Unless you are very confident about this store and feel that it has the potential for development, but generally, we will decide whether to join a jewelry store based on the popularity and trend of the company in the market. But it also needs long-term research. If a jewelry store is a jewelry store No one in Baodian has heard of it, so no matter how cheap their price is, it’s useless!
R & D of chain franchise companies on product brands
Whether clothes or jewelry retail business, it must have a feature that it’s important to have a new style and give people a bright feeling. If you have no new products, at least present a unique and luxury jewelry shop furniture. Whether the product can be updated or not can be said to be a lifeline of the business. First of all, pay attention to the status of web products for a long time, then know whether the company has participated in some product exhibitions, and finally, if there is not too much time for investigation, you can first see the amount of joining in and see if there is a supply of new styles!