Jewellery Shop Business Plan
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1. INTRODUCTION
Since olden times jewellery is being a part of human appearance. In fact, jewellery adds extra glitter o the look and appearance of any person who wears it. But lot of changes and modifications has been done to the jewellery designs, material, style of wearing by olden times. Traditionally women used to wear lot of jewellery and style it as per their attire and they used to make by goldsmith and creative artists. nowadays everything has been done by machines so is some amount of work done by automation, but this is the field which is not fully automated as jewellery maker role plays importance in it too.
For the jewellery making various persons who played important role in the jewellery shop business too. In this world of exterior outlook and judging by exterior appearance, your attire matters a lot and outer look also has crucial part. So the demand for the jewellery has increase a lot and with that various types of other business related to jewellery are also emerged giving this jewellery shop business earning more profit.
2. CASE STUDY
The following are the case studies for the jewellery shop business:
Tanishq: This is the India’s most reputed brand having ventured by none other than TATA group. this started in year 1994. It has branched almost all the major cities of India. This brand has open up offline stores with the online ordering having designs catalogue available on online platform. This causes the customer time saving with tha advertisement of their stores and brand. The services they offered are of vary good quality and their quality is remarkable with the brand name.
PC Jeweller: This is also the one of the most famous brand name in Indian market of jewellery store business. This is Delhi base group whose key factor to run the business is transparency. They provide mostly jewellery that are wear for all attires and not bounded by designs. The two brothers who started this firm in 2005 has made remarkable progress by opening showroom almost all-over Indian states. Another reason for their success is the reasonable price range they offered to customers. They mostly famous for the selling the diamond jewellery.
3. BUSINESS IDEAS’S SWOT
i) Strength
- # The profit margin depends on the owner of the jewellery shop.
- # Demand for jewellery is increasing day by day.
- # Jewellery business is customised as per the need of the clients.
- # The environment of working for the employees is peaceful and no sweat work is included.
ii) Weakness
- # Initial capital needed to start business is very high.
- # Transportation risk
- # Variations in the prices of gold, silver, diamonds.
- # Employees must be loyal otherwise high risk of loss.
- # Availability of raw materials gets too much expenses.
iii) Opportunities
- # Partnership with the local businesses to increase the chain.
- # Expansion of market in Asian countries is more so its beneficial.
- # Designer jewellery collection for the valuable clients.
- # During the festive season there is the big opportunities.
- # At the time of parties, marriages, receptions, etc.
iv) Threats
- # Continuous changing of government policies and rules.
- # Burden of taxes on import and export of goods and raw materials.
- # Risk of burglary of shop and during transportation also.
- # Branded companies is also big threat to local retailers.
Types of service
- # Retail jewellery business:
- # Wholesale jewellery distributor:
- # Imitation jewellery business
- # Ecommerce jewellery business:
- # Gold and silver jewellery business shop
- # Diamond jewellery business
- # Platinum jewellery business showroom
- # Online suppliers:
- # Raw material distributors business
- # Jewels suppliers
- # Designer fashion jewellery business
Jewellery types:
- # Gold jewellery
- # Silver jewellery
- # Diamond jewellery
- # Platinum jewellery
- # Copper jewellery
- # Titanium jewellery
- # Palladium jewellery
- # Base metals
4. FINANCIAL PLAN
- # The location must be perfect for the jewellery shop business to start as to attract lot of clients.
- # The shop must be superbly in appearance and very sophisticated.
- # It would rather look as a showroom and a very well ventilated with cooling facilities.
- # Interiors must be well furnished and lot of furniture for the seating arrangement.
- # Raw materials must be imported of good quality.
- # Designer jewellery make it available for the customers and hire one designer for the customised jewellery.
- # Transportation is also very well facilitated and can be done safely.
Naresh Jain
- Ground Floor, Shop No 3c, Malikno Tabela, J.M Compound Kalbadevi Mumbai - 400002, Maharashtra, India
- Golden Brass Ladies Bridal Jewellery
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