Finally, our owner Ms. Lucy Styles is an entrepreneur who owns 100% of the jewelry store and has more than 15 years experience in the Jewelry industry. 4. This industry according to IBIS World is in its mature phase as the industry value added is expected to grow at an average rate of 0.4% annually from 2011 to 2021, which when compared to the GDP that is projected to grow to 2.2% during the same period is doing rather poorly. Here’s how 13 jewelry & accessories brands nailed their ecommerce site design. To aggressively expand during the first three years of operation. Mobile optimization. A Jewelry Shop Management System for Your Business As a jewelry store owner, you know that it's critical to have the ‘right’ inventory, and also the right amount of that ‘right’ inventory. Finally, our CEO, Ms. Lucy Styles is a veteran in the business and has over 15 years experience in the industry that will earn the business great strides. It will also show your strengths, and identify your weaknesses. If you bundle your products and services, use Vend’s composite products feature to group and sell items and services together, while still tracking the inventory of each individual product or service. Contemporary Ti Design is a designer and manufacturer of unique titanium jewelry. Our promotion strategies has allowed us penetrate the market and allow those not aware of us to become aware as we hired a reputable brand consultant who not only studied the market well but used his knowledge and experience garnered in the industry to develop effective promotion strategies that has given us more awareness in the market and an edge over our competitors. Contemporary Ti Design makes many designs in the form of earrings, pins, and pendants. Most entrepreneurs at this stage usually hired a business consultant who has the right and expert knowledge about the industry and therefore knows what the business is likely to face during the course of starting or running the business, and also offer practical strategies accordingly. We also are paying our employees very well and have the best welfare packages to be gotten in similar start-ups across the jewelry store industry. The first step in Project Management is planning. The buyer will check every nook and cranny of the house, including the attic, basement, foundation, each individual room, and more. Privacy Policy. We also have a strong relationship with vendors and suppliers of jewelries. This is a full and complete business plan with original research, financial models, and marketing/advertising plans that are specific for an Online Jewelry Store. Subscribe to the Free Printable newsletter. Writing a Fashion Design Business Plan [Sample Template], How to Write a Bridal Shop Business Plan [Sample template], Writing an Online Shoe Store Business Plan [Sample Template], How to Write a Sewing Business Plan [Sample Template], How to Write a Perfume Line Business Plan [Sample Template], Writing a Shoe Manufacturing Business Plan [Sample Template], A Sample Clothing Store (Boutique) Business Plan Template, A Sample Jewelry Making & Retailing Business Plan Template, A Sample T-shirt Design & Sales Business Plan Template, How to Write a Clothing Line Business Plan [Sample Template], start a profitable jewelry boutique online, 14. We will encourage our loyal customers with discounts and referral loyalty programs for every customer they refer to us or every purchase of jewelry worth a certain amount that they procure from us. The major reason for the popularity of this jewelry is the growing interest of the consumers in the intricate designs and details of the rings. There are also those who wish to utilize the repair and maintenance services the Company has to offer. In order to achieve our vision, we intend to build a solid business structure that will allow us employ only competent and experienced staff that will work with us towards attaining our desired goal here in New York City. These traditional jewelry pieces represented status, wealth or both. In setting up and starting a standard jewelry store, there are certain aspects that one is expected to spend the bulk of their capital on which includes procuring the jewelries, paying employee salaries and paying utility bills. Our average cost of goods sold will be 40%, which leaves us with a gross margin of 60%. These employees are competent and have the necessary experience necessary for our business. For this reason, we hired a reputable marketing consultant here in Midtown Manhattan – New York who not only understands the industry but knows how best we would be able to manipulate the market and gain a huge share for the benefit of our business. All of the products are designed and manufactured by Steve Artificer. In contrast, a service is not something that one can feel or try out before paying for it. Below is the intended business structure we will build at Sparkles and Stones Jewelry Store; Due to our intention of running a leading jewelry store, we had to engage the services of a reputable business consultant here in Midtown Manhattan – New York City to look through our business concept and determine if we were best suited to start and run our jewelry store business and also be able to compete favorably against other already established jewelry stores and start-ups here in Midtown Manhattan – New York City as well as in the entire jewelry stores industry in the United States of America. Variants on product pages: Which size, color, band, stone, etc. Jewelry is a popular piece of item that can either be used for personal use or for giving away as a gift. The high-margin, low volume nature of the business requires [COMPANY NAME] has two distinct types of customers. Okay, so we have considered all the requirements for starting a jewelry store online. The market will therefore focus on those above the age of 18, located specifically in [CITY], [STATE] as well as those in [CITY], which is only a 45 minute drive from the [PLACE]. We intend to ensure that we make our profit in accordance with the laws of the United States of America. One person usually did this; the manager would be a good choice. Without a doubt, even if it runs you $200… Buy it! The [COMPANY NAME] is a 100% woman owned business. We intend to offer various services and products and so would employ various employees to man the different positions that will come from offering these services and sale of jewelry and related products at Sparkles and Stones Jewelry Store. Our vision is to be recognized for our jewelries and be regarded as a leader by our target market for our sale of jewelry inventories that are outstanding as well as other related jewelry related services and in order to achieve this, we intend building an excellent business structure that will work with our already laid down vision. Therefore, we intend to generate income by retailing the following products and offering the services below; The jewelry store industry is one that has been experiencing strong growth as the economy has improved to allow an increase in demand from different types of customers. Sparkles and Stones Jewelry Store intends to deal in all kinds of jewelries that are silver, gold and platinum and which may or may not contain precious stones from our established location here in Midtown Manhattan – New York City. Whether you’ve been established for 10 years, or you’re just starting out, a clear marketing strategy can help you to understand your customers and your competitors, and to plan promotional activities that will target precisely the people you want to sell to. We have laid down strategies, plans and processes in place that will give us the desired leverage over our competitors and allow us excel as we should in this industry. The rave for branded jewelry is likely to affect smaller and upcoming jewelers who do not have a strong brand presence like their already established competitors. Every business established to make profit intends to be in existence for a long time through suitable sustainability and expansion strategies and so in deciding the future of our jewelry store, we know how important factors such as business structure, customer loyalty as well as promotion strategies are in ensuring that we are sustained for a long time. To ensure your online jewelry store is set up for success, you’ll need the following site functionality: User friendly web design. Even though specialty jewelers generate more than 43% of the total industry revenue in the United States, they are steadily losing their market share to manufacturers, wholesalers as well as retailers. Perhaps one could have a shop manager as opposed to a sales manager because the person doing this has to have a firm grasp on all aspects of producing a piece of jewelry. 2. This is a free, printable business plan outlining the necessary services, organization and market strategies jewelry boutiques and those working in the retail sector. Social media integration. Makes strategic decisions that affects the future of the jewelry store, Communicates core policies and principles to all staff and ensure that they are implemented, Sources for high-end clients on behalf of Sparkles and Stones Jewelry Store, Sources for and recruits the right employees for Sparkles and Stones Jewelry Store, Ensures that employee understands the policies of the jewelry store and implements it, Carries out administrative duties to ensure that the jewelry store runs smoothly without hitches, Sources for reliable jewelry vendors, distributors and manufacturers on behalf of Sparkles and Stones Jewelry Store, Prepares and reviews the purchasing contract that is used by Sparkles and Stones Jewelry Stores and ensure that it is to the benefit of the store, Continually source for vendors and distributors and always have back-up plans in place, In charge of ensuring that the inventory is up-to-date, Keeps accurate inventory of the jewelry pieces by ensuring that all jewelries that leave the store and are brought into the store are well documented, Ensures that the store is well ventilated and secured for the jewelry pieces, Conducts direct marketing and sales on behalf of Sparkles and Stones Jewelry Store, Monitors online website and uses several platforms online to market the jewelry store, Conducts continuous market research to ensure that new emerging market are identified o behalf of the Jewelry Store, In charge of handling petty cash on behalf of the Jewelry Store, Handles in-house vouchers on behalf of accountant, Balances daily transactions on behalf of jewelry store, Prepares monthly financial statements and information, Ensures that the stores books and that of the bank are accurately reconciled monthly, Ensure that correct tax information and documents are submitted to the necessary tax authorities, Handles all enquiries, orders, and complaints of customers, Ensures that Sparkles and Stones Jewelry Store have an updated customer database, Stays up-to-date regarding industry trends as well as organizational policies, Ensures that transported jewelries get to its accurate destination using the authorized route, Carries out regular light maintenance on vehicle, Maintain a log of routes driven as well as traffic regulations so as not run afoul of traffic laws, Ensures that the premise are kept clean always, Ensures that depleted cleaning supplies are replenished, Carries out any other duty as determined by the human resources and admin manager, Advertising our store in relevant magazines, local newspapers as well as on radio and television stations, Ensure that we throw a grand opening party in order to generate interest and create awareness for our jewelry store, Deploy direct marketing and sales strategies, Ensure that our jewelry store is listed on online and offline directories, Introduce our jewelry store to designers, photographers, magazine editors and other stakeholders in the jewelry industry, Use social media platforms such as Facebook, Instagram and Twitter to market our jewelry store, Ensure that we place adverts in local newspapers, magazines as well as on radio and television stations, Use social media platforms such as Instagram, Facebook and Twitter to vigorously promote our business, Create an interactive website that is attractive and user-friendly and use this in promoting our business, Sponsor relevant programs such as beauty pageants, catwalks and fashion shows in the community, Distribute our handbills and fliers in strategic areas, Ensure that our flexi banners are positioned in strategic and conspicuous locations, Total fee for registering and incorporating the business in the United States of America –, Obtaining of licenses and permits as well as accounting software –, Marketing promotion expenses (general marketing promotion and promotion for grand opening ceremony) –, Insurance coverage (general liability, property liability and Workers Compensation) –, Operational cost for the first 3 months (employee salaries and payment of utility bills) –, Cost of start-up inventory (jewelries and packaging materials) –, Cost of store equipment (display cases, racks, security, cash register) –, Other start-up expenses (stationery, furniture, phones, computers and printers) –, Cost of purchasing a fairly used vehicle –, Generating part of the start-up capital from personal savings and sale of stocks, Sourcing for soft loans from family members and friends. CONSEQUENCES Wearing jewelry at work could result in: • torn earlobes A good case in point is when an individual is buying a home. Jewelry Boutique Business Plan This is a free, printable business plan outlining the necessary services, organization and market strategies jewelry boutiques and those working in the retail sector. As more value was attributed to the precious metals regardless of the design and construction. We also have a comprehensive distribution network for our jewelries and a robust website that we use in interacting with our clients. Each free business plan template is available in Microsoft Word (DOC) format, and many of the Business Plan Forms are available in Excel (XLS) format as well. Branded jewelry account for about 20% of the global jewelry market and is on the rise as consumers who have recently acquired wealth purchase branded jewelry in order to show off. 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