Top Jewelry Business Ideas In Nigeria<>How to Start Jewelry Business in Nigeria <>Step by step instructions to Make Money Buying and Selling Jewelry in Nigeria. jewelry business business plan<>Jewelry business<>bookkeeping<>Jewelry business branding<>Jewelry business benefits<>Jewellery business books Full Details are written Below⇓
Jewelry business is a top-notch business in Nigeria. This is because a greater section of the population use jewelry in one form or the other. Jewelry is used as anklets, rings, paunch rings, necklace, wrist band, earrings etc. Jewelry comes in the form of precious metals such as gold or silver. It also comes as precious stones, beads, gemstones etc.
This shows clearly why the jewelry business stands as an evidence. Notwithstanding the sort of jewelry, you need to bargain in (gold, silver, precious stone, beads, ivory etc.), there will definitely be a market for it.
Are you searching for an approach to profit with less hassle? Purchasing and offering jewelry may be the correct business choice for you. With a good jewelry business strategy, there will be huge success for you and you will make it.
Listen, there’s sufficient space for you to profit by offering jewelry products for sale. These includes jewelry items such as rings, pieces of jewelry, arm ornaments, anklets, paunch rings, and other jewelry things produced using gold, silver, precious stone, gemstones, beads, and different valuable materials.
I encourage you to read further on to see how you can begin your own jewelry business and succeed in Nigeria.
Step by step instructions to Make Money Buying and Selling Jewelry in Nigeria
- Choose the Exact Kind of Jewelry You wish to sell:
Your first move towards beginning a fruitful jewelry business is to determine what sorts/type of jewelry to offer for sale. Such as, would you be putting forth jewelry made of just gold, silver, precious stone, or some other material for sale?
Determine if you Would be purchasing and offering just female jewelry? Giving responses to these inquiries and numerous more in comparative lines will help you choose what precisely you need to offer.
While there are numerous valuable materials to checkout, it is requested of you that you go for gold jewelry, for example, gold pieces of jewelry, gold anklets, gold armlets, and so on. Take note, this is only a recommended approach. If you have an interest in going for some other sort of jewelry, then take after your heart.
- Get Acquainted with Jewelry Pricing System in Nigeria:
After choosing what sort of jewelry you will purchase and offer for sale in Nigeria, what follows is an understanding of Jewelry Pricing System. For example, you need to know how gold or silver is being measured, weighed and sold. You need to know how the costs of these materials vary.
Your prosperity as a jewelry vendor depends to a greater extent, on your capacity to spot low and high market swings. You would then make a move at the correct time to change and adjust to reigning market price.
Ordinarily, you will make purchase when the swing is low. Then, stop selling it for a while until the rates goes up. Then, you then offer it at a better average net revenue. There are numerous sites and other assets where you can track the most recent costs of gold and silver rates, alongside costs of different valuable materials. These are small jewelry business ideas you need to imbibe.
- Designate Your Jewelery business startup:
Understanding the market will help you make budget on jewelry business. In any case, you should remember that jewelry business, similar to some other field of business, includes some hazards. So, just come in with enough money that you can stand to lose.
Sometimes, you may wish to borrow money for the business. Then, whenever you make a productive sale, you can then pay back your loan. Maybe, with some interest. Presently, the jewellry business startup capital can be anything from N300,000 and N5m. Everything relies on the amount you have to purchase. It also depends on the risk you decide to take.
- Go Ahead and Stock Your Jewelry
Whenever the costs of jewelry falls, you have to purchase rapidly before the costs goes up. Online destination sites like EBay.com are the best places to purchase jewelry on the web. You can also purchase jewelry from open markets. Another way to get jewelry is to buy from individuals who have jewelry for sale.
In the event that you are managing just in gold jewelry, you may need to invest a considerable measure of energy searching for the best offers. This is because of the intricacies of gold. Yet, it’s not difficult to discover where to get gold jewelry. The best place to start is to ask people already into jewelry business in Nigeria.
- Spare/Preserve Your Jewelry
As soon as the cost of your desired chosen metal stays on the low side, purchase as much as you can lay your hands on. Save them until you have a large quantity of the item. Continue following the present costs of the material, so you know when to offer for sale and at what rate.
You might need to set a save sum on your sale. This means you can pull out of the sales if the required price is not archive. Set your save at what you would have the capacity to get paid in the event that you sold the jewelry straight to buyers. More often than not, you will get higher cost at auctions and marketplaces.
- Primary Concern
The way to profit from the jewelry business is to purchase low and offer high. The general purpose is profit maximization. Alongside, try to locate the best offers or deals you can get, and offer for sale at place you can get the good benefit. If you play your card very well you can turn it into a full time job. Understanding the business well, it mode operandi will kick you to the top.
How to Market Your Jewelry in Nigeria:
See below, simple tips on how to Market Your Jewelry in Nigeria:
- Inform People of your jewelry business.
The best advertising tip for your jewelry business is to be “flawless” with your information dissemination. For the most part, be completely forthright and reasonable. Tell people about your jewelry business and encourage them to patronize you.
- Advertise on Social Media
Whether your own a website or an online store or not, advertise your jewelry business on social networking sites like Myspace, Facebook, LinkedIn and Twitter. These avenues allow you to utilize and give you access to a wide number of individuals. It is very important that you reach people who share your interests. You can likewise purchase cheap advertisements through a large portion of these online networking destinations.
These avenues allow you to utilize and give you access to a wide number of individuals. It is very important that you reach people who share your interests. You can likewise purchase cheap advertisements through a large portion of these online networking destinations.
- Make a Blog/Website for Your Jewelry Business
This is another method of reaching your potential customers/clients. Truth be told, people would like to visit your blog to see samples of jewelry products you have.
- Make a Video to Promote Your Jewelry Business:
This gives more visuals about your jewelry business, and it’s an awesome approach to sell.
In a situation that you have a Mac PC, iMovie will work fine to create your own jewelry showcasing videos. Or, on the other hand in the event that you have a PC, Windows Movie Maker will do.
- Open a Jewelry Shop
People would feel more at home if they can visit you at your office location. Your customers need a place where they can meet you and do business. They would also be able to see live samples of your jewelry products for sale.
- Run Jewelry Promotion Ads on Facebook
For certain occasions, make a point to publicize your business to your Facebook fans. It is an incredible strategy, in light of the fact that you can target customers as indicated by specific socioeconomics. These includes: age, sexual orientation, area, population etc. associated with your business.
Likewise, you can set a strict every day spending plan and select to what extent you need your publicizing campaign would run. This has been extremely effective in helping you acquire tremendous new likes and clients.
- Wear it!
Each individual you meet is a potential client. Wear a bit of your jewelry consistently, wherever you go. Be neighborly, positive and showcase to everybody you see.
At the point when individuals compliment you on your jewelry, say thank you. Give them your business card, and say nice words to buy their interest.
You can say, “since you like these studs or this ring, arm ornament, neckband or whatever it might be, please visit my office, site etc. to take a closer look at my other jewelry”.
The individual will joyfully take your business card and you now have another potential client.
- Give out Your Business cards
Have business cards with photos of your work on them. While it’s enticing to utilize the online print organizations’ free layouts for business cards, it’s not advancing YOUR jewelry. For a couple of pennies for each card more, you can incorporate a photo of your jewelry on them.
Wear it! Nobody will wear it with more pride and euphoria than you will! That will radiate through. At the point when individuals ask you “where did you get those from?”, you can react with the most ideal answer – I sell them!
- Make Presentations at Jewelry Talks, Workshops etc.
Plan to attend and give a free talk on jewelry making. Also, discuss a part of jewelry history, jewelry sales etc. This is a brilliant approach to get before a crowd of people of potential clients.
If you need a complete business plan, please let us know. Or, you want us to help you set up this business, kindly contact us. Otherwise, Please check out these other business ideas you can do
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