Jewelry store business plan
Reviews for a jewelry store business plan ()
The main thing about the business plan of a jewelry store in the year
Opening a jewelry store: subtleties of design
Luxurious gold ring with a diamond shimmering in all colors or graceful earrings with sparkling emeralds - it's hard to look away from such beauty. But this magic of attraction will manifest itself only if competent lighting was used when decorating jewelry showcases. Having successfully demonstrated a precious product, you can gradually influence the psychology of the buyer, prompting him to make an expensive purchase.
Lighting a jewelry store is the most challenging task for a store owner. Of course, an experienced specialist should deal with the lighting of showcases, who will give valuable advice on the arrangement of goods in the showcases, explain which lighting will be more profitable and why. Design decisions can be radically different, and whether the goal has been achieved - you will know only after several months of the store's operation.
The dimmed lighting option is used by the owners, who are confident that buying another diamond ring is a purely personal matter, and bright light should only fall on the shop windows with the goods. But not everyone agrees with this statement, and often the design of a jewelry store begins with the installation of powerful halogen lamps, which brightly illuminate the entire trading floor, creating the effect of a podium.
When opening a jewelry store, the closest attention should be paid to the design of counters and lighting. The peculiarities of organizing trade in a jewelry store are such that improperly selected lighting can significantly reduce the turnover of a retail outlet. Jewelry is a very expensive commodity, and it is very difficult for many to decide on a purchase, and an unprofitable presentation of jewelry can contribute to the fact that the ring or chain that interested the buyer remains in the window.
Having decided to open a business such as a jewelry store, it is necessary to buy the appropriate equipment in advance to properly design the counters. In this case, one should take into account the peculiarities of lighting for various types of stones and precious metals. So, platinum looks most impressive in soft light, yellow gold will sparkle in warm light, and for silver it is preferable to use cold tones.
Do not forget that the color of the stone can change depending on what kind of lighting prevails in the store - daylight and electric. There are stones that look especially advantageous only in daylight, such as tourmaline, sapphire and black diamond. But a diamond, emerald or ruby will "sparkle" only under artificial lighting.
When building a business on gold, you should not neglect such an important financial document as a jewelry store business plan. From it you will learn how to open a "gold" store and attract a large number of customers to it, including through the right lighting. By using a competent business plan, you significantly increase your chances of becoming a successful businessman.
How to create a jewelry store: choose a showcase
Choosing the right counter plays a major role in starting a business like a jewelry store. A showcase, on the one hand, should not interfere with the study by the buyer of the goods he liked or prevent the seller from quickly getting the jewelry. On the other hand, we must not forget about the cost of jewelry, and, accordingly, about ensuring their safety.
Until recently, jewelry was considered a luxury item, but nevertheless, few families can be found in which there is no jewelry of any kind. It is customary in our country to buy jewelry even despite financial problems, because apart from their aesthetic function, they are a good investment. Therefore, a sufficient number of businessmen are interested in how to open a jewelry store from scratch. But you need to remember that the jewelry business requires a lot of capital investment.
Drawing up a business plan
In order to successfully build a future jewelry business empire, before opening a store, it is imperative to draw up a competent business plan for a jewelry store or at least determine the main items of income and expenses.
So, to open a jewelry store you need to spend money on the following:
- trade equipment from 500 thousand rubles;
- purchase of goods for sale from 1500 thousand rubles;
- rent of premises from 50 thousand rubles in month;
- repair of premises from 90 thousand rubles;
- salary of staff from 80 thousand rubles per month;
- store security from 30 thousand rubles per month; <
- advertising from 20 thousand per month;
- replenishment of the product range from 400 thousand rubles per month.
Total initial investments are quite substantial and range from 2,090 thousand rubles. And monthly expenses will be from 580 thousand rubles. Plus you have to pay various taxes and fees.
As a rule, the mark-up on jewelry is from 150 to 250%, but taking into account discount cards and various sales, the average mark-up drops to 80-100%.
Considering that the average bill in a jewelry store is about 1.5 thousand rubles, the monthly revenue will be about 900 thousand. Taking into account monthly costs, you will have to wait for payback at least 12 months. Considering that the first months, while the store has not yet acquired the proper fame, the monthly income may be less, which means that payback should be expected no earlier than in 18 months.
Selection of premises
One of the fundamental factors in the success of a jewelry store is the choice of a good location. It is important to understand that jewelry is not everyday goods and there is no point in selling them in a “convenience store”. Therefore, despite the high rent, the store must be located in the city center or in large shopping centers.
Having chosen the location for the store, you should pay attention to the presence of nearby competitors. In such a business, it is best not to be located next to other jewelry stores.
The jewelry business is one of the most promising areas of commercial activity in modern Russia. Despite all fears about the crisis and the unstable economic situation in the country, the demand for jewelry is growing every year. Therefore, a business plan for a jewelry store can be a promising project. In the course of its implementation, it is necessary to take into account many nuances in order not to incur a loss. Further in the article, the answer to the question of how to open a jewelry store from scratch will be described and what you need to pay special attention to.
Choice of direction
The first thing to do when drawing up a business plan for a jewelry store is to choose a line of business. It is worth considering all the possible options for implementing your own business in the jewelry business.
Opening a jewelry store is an option for a profitable commercial project that does not require small investments. In this case, it will be difficult for a novice entrepreneur to independently engage in such a business if he cannot find a sufficient number of reliable investors. As an option for the start, you can open an island in the shopping center.
You can open a pawnshop. This type of employment in the jewelry business is very relevant in times of crisis. With a large flow of clients who pledge their valuables, it is possible to recoup the invested capital relatively quickly in order to start earning a net profit soon.
Designing jewelry is one of the most promising activities in the industry. To do this, you need to have special knowledge in the jewelry field and skills. The cost of unique jewelry always exceeds the options that are made in a conventional factory. With this type of employment, there is an opportunity to get good earnings, but this requires a lot and hard work.
Not far from the jewelry store, you can open a jewelry repair workshop. This also requires specialized knowledge. But, at the same time, you can get a good flow of customers if you choose a place near a popular jewelry store.
If you focus on middle-income buyers, you can open a small jewelry store with an assortment of jewelry from a domestic manufacturer. The presented models will be part of mass production, so the owner of such a store can benefit from a lower price, as opposed to the category of designer jewelry.
Search for start-up capital
The answer to the question of how to start a jewelry business from scratch will be given by a carefully worked out business plan. One of its first and key stages will be the search for start-up capital. The jewelry business is a commercial activity that is most often associated with high start-up costs.
One of the most common options for obtaining start-up capital is a bank loan. But, for this, it is necessary to study in detail all possible offers and, based on their analysis, choose the most profitable option.
Another option for finding start-up capital is participation in various government programs to support small businesses. In the practice of Russian business, you can find a large number of successful entrepreneurs who started their commercial activities on the basis of state financial support.
The most effective option for creating start-up capital is to find reliable investors. Here, most likely, it will already be about creating a common business project.
The best friends of girls are diamonds, and for a beloved woman, no matter how old she is, nothing is a pity. A jewelry store where you can buy jewelry made of gold, silver, platinum will be popular when both the assortment and the price range are designed for different ages and incomes. This requires a jewelry store business plan.
Precious metals and stones do not lose their value over the years, on the contrary, heirlooms, passed down from generation to generation, grow in value. Gold always remains gold, and in the most difficult times even replaces money. In addition to beauty, there is also a practical value in buying jewelry, so the business will remain profitable and profitable in times.
Despite the large number of salons and shops of a similar profile, the opportunity to provide the buyer with exquisite, unlike any other, jewelry art pieces tilts the scales in favor of a positive decision regarding the business.
Advantages and disadvantages of a business idea
- the jewelry business is considered promising, stable and profitable;
- the store does not require a large space;
- the store does not need large staff;
- business payback is 1-2 years.
- large initial investments;
- preparation of additional documents and permits for trading in precious metal products;
- the need for targeted ongoing advertising and marketing activity;
- the need for alarm and security services.
How to open a jewelry store?
The goal that a businessman sets himself when planning a new business, one way or another, comes down to making a profit. Examples of business plans with calculations clearly prove that profit is achieved mainly through turnover. Therefore, we can say that by opening a jewelry store, a businessman sets himself the goal of succeeding, expanding the business and, having recouped the investment, make a profit.
- youth aged 20-30, both sexes;
- women aged 19 to 65;
- men aged 30 and up to 50 years.
Jewelcrafting has long been considered the prerogative of the elite. Master jewelers were honored and respected in the cities, since this profession required special skills from a person, which had been developed over the years. Today jewelry workshops have lost their former importance, but, nevertheless, a large number of people use their services. Indeed, if a gold chain breaks, a person willy-nilly will carry it not to the trash heap, but to a jewelry repair shop. For the thing is valuable and dear. Also, many people do not want to buy factory jewelry in stores and prefer to order their production from qualified craftsmen. The business plan for a jewelry workshop presented here with the calculation of income and expenses will help a budding entrepreneur assess the profitability of opening a jewelry workshop in a small Russian city.
The investments required to start a business will amount to 1 million rubles. Most of this amount can be covered by obtaining a bank loan. You just need to carefully study the terms of loan offers from different banks in order to choose the most profitable option with the lowest possible interest rate. Also, part of the funds can be taken from the personal savings of a businessman.
A jewelry workshop, like any other business, must be put on an official "track". The best choice would be the IP form. The entrepreneur will need to contact the department of the Federal Tax Service at the location of the workshop and submit a corresponding application, enclosing a copy of the passport and a receipt for payment of 800 rubles of the state duty. It is also necessary to register the jewelry business with the state assay office, whose employees will periodically visit the workshop to check for the availability and compliance of the equipment with the norms and rules established by law.
As for the choice of the taxation system, the “simplified taxation” (simplified taxation system) is optimal, where the object of taxation is the amount of the difference between the income and expenses of the business for the reporting period. The tax rate in the USN is currently 15%, but in the future it is planned to introduce a "floating" tax rate (6-15%) in certain regions of the Russian Federation.
When registering a jewelry workshop, an example of a business plan for which is described here, it is very important to choose the correct OKVED codes, otherwise problems may subsequently arise with the provision of certain types of services to the population. The following codes will work:
- 32. "Manufacture of jewelry, bijouterie and similar goods."
- 32. 2 “Manufacture of jewelry and similar products”.
- 32. 2. “Processing of precious, semi-precious, semi-precious, semi-precious and synthetic stones, except for diamonds and amber; production of products from semi-precious, ornamental and synthetic stones, except for amber. "
- 32. 2. "Manufacture of jewelry, medals from precious metals and precious stones."
- 32. 2. "Manufacturing of jewelry and similar items by individual order of the population."
- 47. 9 “Other retail trade in non-specialized stores”.
The range of services that a jewelry workshop can provide to the population is very diverse. The most common are listed below:
- Repair, cleaning and restoration of the appearance of jewelry.
- Soldering gold and silver chains.
- Work on resizing jewelry.
- Setting and securing precious stones in jewelry.
- Making chains, rings and bracelets.
- Converting old jewelry into new, modern designs.
With the accumulation of experience, this list of services can be expanded. The main thing is to hire high-class specialists in order to be able to provide clients with more "advanced" types of services.
How much to invest in opening
The initial financial costs, which the opening of a jewelry workshop cannot be without, are presented in this table:
The main expense item, as can be seen from the table, will be the purchase of jewelry raw materials - exactly half of the planned initial investment. Also, a considerable amount will have to be spent in order to purchase the necessary equipment, in particular, jewelry scales, which will be registered in the assay office (their cost is quite high). Since the area of the jewelry workshop will be small, rather insignificant sums will be spent on repairs and rent. In general, the costs of organizing a workshop should be distributed as efficiently as possible - to save on something, and somewhere, on the contrary, to invest additional funds.