Vectors and 3D Models
Local Search - Business
Weather Information
Get the App for Smartphones and Tablets

Go Back


WhmSoft Free Articles Directory
Free Articles for Reprint
Free Articles to Publish
Free Articles for Newsletters
Videos to Watch


Page Generation Date and Time:
03/24/2017 05:25:01

 
Free the Animation VR
Play to reveal 3D images and 3D models!
VR Icon  
 
vlrPhone / vlrFilter
Project of very low consumption, radiation and bitrate softphones, with the support of the spatial audio, of the frequency shifts and of the ultrasonic communications / Multifunction Audio Filter with Remote Control!



 
 
Alexa Data
 

Go To Articles Directory Home Page

To get the current article, - See Below (at the bottom of the page) -.
For top news titles, see below.
Web sites and videos listed in this page are frequently updated.
If you find that this page is useful (quality of web sites, images and videos, ...), you can add it to your favorites.
Bookmark Page !

Tell a Friend:



With your mobile phone (WAP / I-Mode / iPhone / PDA), for free:
The Top News - http://www.whmsoft.net/services/wap/news.php
The Daily Files - http://www.whmsoft.net/services/wap/get.php
All the Directory Files - http://www.whmsoft.net/services/wap/choose.php

Web version of feeds:
Podcast Music - http://www.whmsoft.net/services/web/wpodcast.php
Daily Files - http://www.whmsoft.net/services/web/wget.php

You can play the Guitar Drum Revolution game (flash game) by following the link below:
Play Guitar Drum Revolution Game


You can play free online games (flash games) by following the link below:
Free Online Games

Play the samples below:
FritesPuzzleSnowball Pinball 2CronchGuitar Drum Revolution

You can view the people (celebrities) news and the front page news (with videos, images and constant updates) by following the link below:
View Recent News
or by visiting the WhmSoft Service blog:
News Photos Slideshows


Article Keyword Videos to Watch
Business
Click on the image to start the video.



Related Topics
Images - Links - Articles

Lyon


Related Images



Article Category Videos to Watch
Business
Go to the Videos Pages


Tips for Getting Started with a Jewelry Business by Aaron Rome

Plan!

First, it is important to have a good plan. A formal business plan isn't necessary unless you aim to get a loan or investors, but the plan should be thorough, especially in the financial section. The bottom line for most of us is: can I make a profit doing this? How long will it take to turn a profit? And, is this worth my time? Below I have outlined a few key factors to think about while devising your plan. I want to be clear that this is just a guideline, not a "how to" since everyone's circumstances is different - what may work for one person may not work for another.

1. Why do you want to do this?

Is this something that you want to do for strictly for the money? For the thrill of starting something from scratch? Because you need to make extra money to pay your bills? Etc. The answer to this question will create the context you need to think through your plan. For example, if you want to start a jewelry business because you absolutely have to have extra money to survive - that consideration will limit your choices greatly because you will need to make decisions that lead you to a quick profit.

2. Market & Products

What do you plan on selling and why? Think about whether the jewelry or other products you intend to sell are right for your intended market. Diamond jewelry is probably not the right product for a flea market! Some good 'off-line' venues that I have used include:

Craft fairs and outdoor festivals -- generally in the summer time. You can usually get a table at these events for - for the day. You will want to have a good selection of inventory; if you do you can usually gross anywhere between 0-0 (based on my experience). Your sales will be directly related to your quantity of inventory.

Winter bazaars, church sales, holiday festivals -- Oct-December. Check the local paper. Many churches have these annual events and tables are pretty inexpensive. These events are nice because people come to spend $ on gifts.

Home-based jewelry parties. You can host an event yourself, or have a friend host it and give her some free stuff as compensation. I like to have a good friend or relative host - that way I am pretty sure they will follow through. Ask your friend to invite her friends, relatives, etc. for the party. You provide some light snacks and bring all your stuff. Again, people come to buy and you have no competition! If you get people to one of these you will make out pretty well, and you don't need to have as large a selection. I have made up to 00 in an hour and half! Typically, I'd gross 0-0 in a pretty short time.

Flea markets-- usually in summer and holiday season. These can be boom or bust. It depends on whether, traffic, etc. Generally people at these want to spend very little, so the low-end stuff sells best. Good place to experiment since the tables are usually only or so. I know people that go to the same flea markets every week and do very well with lots of repeat customers.

Store/ mall-cart. This is a much bigger leap since the overhead is so high compared to the above venues. I have done neither so cannot offer any good advice in except to plan really well and consider all the costs involved.

3. Where will you get your inventory?

This is the place you will need the best research. Unless you are selling in large volume, you will probably want to get a markup of about 3 times (what you paid for inventory). The lower the price you pay for your goods, the lower the price you can offer your customers/ the more profit you will make. You will always save more when you buy in bulk, so look for a supplier you can form a long-term relationship with who can give you good deals, service and selection. Buying a large quantity now may seem like a big expense now, but the result is you make more profit on every single item you sell.

The more you spend the more you save. Find a few good suppliers and see what sells well and who is willing to work with you. Find suppliers who provide good service and are committed to your success. Buy off ebay- many people buy stuff at good prices then just re-sell

Search the web for other silver jewelry wholesalers.

Search the web for manufacturers. Most are in Asia. And you will get the best deals this way - but you are going to have to spend 00+ to get the best prices and give yourself 6 months to find the right vendors, get your inventory and develop a relationship. It seems simple, but trust me, the cultural differences alone will add 3 months to the process! Unless you need 20+ designs of each design you order, or actually want to get a mixed batch of random leftovers that you will not see in advance, this is not a great option for most small businesses.

4. Is an online business right for you?

I make a living through my website. My business is successful because I:

  • Have an efficient system to manage business operations

  • Provide excellent service

  • Have several great, inexpensive sources for products - suppliers that I know well and trust 100%

  • Purchase a high volume of jewelry each month (enabling lower margin on each item)

  • Spent time researching/ testing products and marketing strategies and learning about ecommerce

As I said, everyone's situation may be different, but this is what works for me. I started about 6+ years ago part time, and within about 6 months had a full time internet business. I never expected it to work out this way, but it's still going strong. Now it is much easier to get started from the technical side -- the major auction sites offer good services for beginners and there are products out there to manage your business. You can even start a fully-functional ecommerce website without knowing any html! It is the "systems" that are the key factor for me. I have a system for inventory, a system to communicate with customers and a system to manage the fulfillment and customer service process. Most of my systems are computerized but I always take the time to get to know my customers in person when I have the opportunity.

5. ... Is an offline business right for you?

Many folks are intimated at first by the whole ecommerce thing. The truth is an off-line business can be just as successful. Unless you have a lot of capital you want to start off (and continue!) with low overhead. So, you don't need to go out and buy a store front! You can start by buying a small amount of inventory and testing the waters.

Try selling to friends and co-workers

Host a jewelry party (or better - have a friend host it) and invite a lot of people. I once made 00 in an hour an a half! Typically, I would make about 0 or so in a couple hours.

Rent a table at a craft show (summer fair or church bazaar around holiday time). Tables are usually only - for the day.

Get a spot a flea market

Put stuff out at your or your friends garage sales. It really works!

My advice is until you really know your market and have a handle on your revenue stream, start small. This way you are not going to lose much, if any, money.

6. Business licenses, TaxID numbers, merchant accounts, etc. Check with your state to see what is required to do business. My experience is that it is very simple. You can get a TaxID, which takes about 1 hour and you can do it by phone, and this enables you to buy inventory without paying sales tax. But keep in mind that most vendors will be out of your state and will probably not charge sales tax anyway. In this case most vendors may not even need a TaxID. In terms of taxes, you can file under your TaxID or your social security number. If using your social security number and keeping the business under your own name, I do not THINK you need a TaxID, as long as you claim all your income appropriately. If you plan to have a business checking account you will need a TaxID number.

As far as I know you do not need any special license to sell retail. But you should contact your state tax office to get all the paperwork you will need to remit sales tax to the state. You are required to collect sales tax on retail purchases (most internet companies only charge sales tax to customers that live in the same state as the business). And at the end of the year, you have to pay this tax to the state.

As your business grows, itís a good idea to take credit cards, especially for online businesses. Nowadays this is pretty easy. I get about 20 offers a day via email to setup merchant accounts and accept credit cards online. Do a search on google.com and you will find hundreds of places to do this for you! The cost is about / month + 0-0 setup fee. Another option is to use only a PayPal account. The account is free to setup. Get a paypal account regardless of what you do because itís essential!! I'd say 50% or more of online shoppers now, and 80% of ebay customers have paypal accounts.

* I am NOT an accountant! This information is just based on my experience and may not be accurate.


About the Author: Aaron Rome is the founder and operator http://www.wholesalegemshop.com, a website catering to over a thousand small to mid-size businesses world-wide. The site boasts a stunning collection of wholesale silver jewelry including rings, pendants, bracelets, necklaces and starter packages.




Recommended Web Site(s):

Easy Articles Home Page - Articles Directory

Recommended WhmSoft Web Sites, Feeds and WAP Address:

WhmSoft Software Home Page - Software
WhmSoft Services Login Page - Music and Images
WhmSoft Moblog Home Page - Blog - Photo Gallery
WhmSoft Free Online Games Home Page - Flash Games
WhmSoft Services RSS Feed - Daily Music, Image and 3D Flash Animation
Classical Music with Drum RSS Feed - MIDI and MP3 Files
Classical Music with Drum Podcast Feed - MP3 and MP3 Files
WAP / I-Mode / PDAs - Daily Music, Image and Flash Animation

Home Pages:

WhmSoft Free Articles for Reprint Home Page
WhmSoft Services Home Page - Music and Images
Copyright (C) 2006-2017 WhmSoft - All Rights Reserved.