although many people tend to do jewelry wholesale or retail business, but all of them have some misunderstandings in this business circle.
Many business novices think that it is easy to run jewelry stores because of the low starting point. At last many of them blindly start the jewelry business. However there are many misunderstandings in operating jewelry business; in the matter of fact,
to open one jewelry store is not that simple, such problems you have to confront are as how to find proper
wholesale jewelry beads supplies and via what channels to purchase.
I observe some jewelry store operators, and sum up some common misunderstandings and mistakes the runners easily make in jewelry business.
1. Never blindly seek for wide range of products
A shop should have its own style, we must decide the specific range at first day and never easily give it up, such as Carpenter Tan now only sells combs, and similarly iStones only sells stones products. It is not the other things that cannot bring benefits, but they are seldom worthwhile to sell in the shops. Of course if you locate in some small places with low population and weak spending power, you have to collect something on consignment to sell, but in this way you are just feeding yourself, and it is impossible to make a great fortune. When the jewelry store turns into a department store, it will lose the original meaning and features.
2. Choose right premise first and then supplies
As the old Chinese saying goes, a good store can feed three generations. That is, if you select a pretty good premise, for example, the premise locates in the fashion avenue, where the young people like to gather and the population is dense, you can sell good no matter what you sell. Surely on one street, competitors may increase, but your jewelry products will not be overstocked.
You needn’t worry about the stock of your products; the high flows of customers can guarantee you sales, only if you are able to provide sufficient varieties and best services. Therefore, it is important to find a proper place to set your store first, and then establish business relationship with your favorite wholesale supply.
3. Do not consider price element only
The jewelry store has a lot of features; it is good to have low price supplies resource, but it is better to fix a stable supply resource. Within a same field, one commodity is labeled different prices in different wholesale supplies, which is commonly seen. Therefore we should remind ourselves that blind pursuit of low prices may cause instability and bad influence, for example, backlog of goods.
In fact, jewelry store running belongs to a kind of small operation, which stresses fluent purchases and quick sales. Low-cost in and high price out seek benefits; moreover the cash flow become sooner, which leads the risk much lower. It is better to consider which models are selling better than to take the time to pursue the low cost. In fact, most of the jewelry stores are retail styles, not wholesale, even if a few cents of the purchase price discrepancy will not hurt the business core, just less profits. Sometimes provide some discount or gift like
cheap glass beads, you may get more customers and compensate the benefit loss.
