Table of Contents:
1. Imitation Jewellery Business
Indians are crazy about jewellery. Gold, silver, and diamond jewellery have always been a crucial part of Indian culture. But because of the hike in their prices, many people have shifted to modern and artificial jewellery.
According to recent research, the demand for artificial jewellery has increased exponentially, by almost 85 per cent. Further, the imitation jewellery business is one of the largest industries globally, contributing to 5.9 per cent of the GDP in the Indian Economy.
These numbers are huge! Hence, it's no wonder the future of the artificial jewellery business is super bright. But why is NOW the right time to start this business? The global pandemic has given people an opportunity to work from home by starting online businesses.
2. How To Start A Jewellery Business At Home?
People who do not have a stable inflow of money can create a small-scale business and expand its online presence to survive in the competitive market. In that line, fashion is a top-runner in the emerging trends in the digital world. Women love to adorn themselves with accessories. Why not start artificial jewellery making business at home? It will help you highlight your talents and earn a handsome amount of money.
Artificial jewellery is cost-effective ornaments that are handmade. It is a myth that only middle-class people will prefer these pieces, considering the low cost and simple designs. Many celebrities have been spotted wearing artificial jewellery and looking ravishing. So, many people use them to amp up their style statement these days. This has drastically increased the scope of the jewellery business in India, encouraging people to follow their passion.
3. How To Start Online Jewellery Business From Home- Steps.
Now that you're aware of the scope of starting an online jewellery business, let's look at the steps to make it happen.
1. Decide how you want to sell jewellery from home
First and foremost, you need to decide how you want to sell your artificial jewellery. Here are a few possibilities on how to start a jewellery business at home.
2. Start a wholesale business
In the wholesale business model, you need to buy jewellery items from manufacturers at wholesale prices and sell them to retailers or directly to customers. Starting a wholesale business requires a significant investment as you are buying in bulk. Plus, you need huge storage to store all these items.
3. Become a reseller
If you plan to start out in the jewellery business without any big investment, joining hands with successful companies can be the best option. Reselling is a profitable business wherein you can sell jewellery pieces on behalf of others to earn margins.
The significant advantage of this business is you need not store products at home. Plus, you can resell a diverse range of artificial jewellery from multiple vendors. One downside of being a reseller is you do not know the quality of the product unless the customer receives it and needs to exchange the product if damaged.
4. Sell on online platforms
Another way to start a jewellery-making business is by making jewellery at home and approaching e-commerce websites like Amazon and Flipkart for collaboration. Many small business owners launch a tie-up with these stores to promote their brand, cutting down the cost of setting up an e-store.
5. Find your niche
Once you've decided how you want to start your jewellery business, it's time to find your niche. A niche is a secret ingredient that can make your online jewellery business a success. However, many people are worried about niching down their business. But in reality, that's what makes your business stand out from others.
There are various items for jewellery like earrings, neck sets, bracelets, anklets, and bangles. You need to understand what interests you. Discuss with your friends and family, browse the internet to see what's in trend. The idea is to go for a niche that shows your expertise and sparks your interest. Because at the end of the day, this gives you the drive to keep going.
Also read: Artificial Jewellery Manufacturers In India
6. Register a creative name for your business
Now that you have your niche in place, it's time to create a name for your business. However, here are a few things you must consider:
- Select an original name that's not taken by others.
- Make sure the name is easy to pronounce, read, and remember.
- Choose a name that conveys your brand message to your target audience.
After selecting a great name, get your business name registered to promote the brand among target customers. This is because a licensed business will enhance the brand's popularity among customers by allowing you to set up a physical store or e-store without any restrictions.
7. Understand the latest trends in the fashion industry
People love to stay fashionable by trying out new statement designs that are a massive hit in the market. Before building your brand, it is vital to understand the market trends so that you can find out the accessories that would impress customers.
Handcrafting such jewellery pieces and selling them online can draw the customer's attention, boosting your business's revenue. Alternatively, you can draw inspiration from celebrities and create ornaments to stay updated with the trends in the market.
8. Launch a website
Launching a website is another effective step to start an online jewellery business and establish your identity as an entrepreneur. Owning a website helps in easy payment management and shipping of the products worldwide.
Further, having a website also allows sellers to check the sales data and restock fast-moving beauties to attract more customers to the business.
You can also create a logo for your website. However, make sure your logo matches the brand name to maintain the business's identity in the thriving market.
9. Market your business
It's not enough to launch your business and wait for customers to show up. This is where marketing your business comes in. No matter what types of business you run—small or big—marketing is something that helps you reach out to your potential customers and understand their needs.
With social media platforms on the rise, creating an online presence for your jewellery business is more important than ever. Plus, you can also create a Google My Business account to boost your search rankings on Google. Building a blog, email marketing, referral marketing, SEO, etc., are other ways to promote your business and take it to another level.
4. Jewellery Business Ideas
Artificial jewellery has received a great liking among women in recent times due to the grace they add to them. The key to a flowing jewellery business is to maintain high ethical standards by selling quality products at reasonable prices.
Do detailed research and follow the most-suited approach to stand out from the crowd. Start slowly by learning the hacks on how to start imitation jewellery from home and progress forward by becoming a successful businessperson in the market.
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FAQs On Imitation Jewellery Business
Q. How much does it cost to start a jewellery business?
Ans. The cost of starting a jewellery business from home depends on the business model you choose. For example, if you decide to start a whole jewellery business, then the cost involved will be more than selling your stuff online. It will be much less in case of reselling as you don't need to purchase anything from the vendor in bulk or arrange for a space to store your items.
Q. Do I need a professional degree to start an online jewellery business?
Ans. Short answer—NO. If you are interested in starting an artificial jewellery business, you can get a degree from a reputable college. But this is not necessary. All you need are the skills and talent to take your business to new heights. Without these, even a person with a reputable degree is more likely to fail at one point or another.
Q. What kind of artificial jewellery can I sell?
Ans. You can sell any type of imitation jewellery—be it handmade, rings, necklaces, customisable items, chains, bracelets, wedding accessories, etc. If you have a solid business plan in place, you can sell different types of products to your customers with much less stress.
Q. Should I have my own website or sell on marketplaces like Etsy, Amazon, etc.?
Ans. Both have their pros and cons. For example, if you sell your jewellery on your website, you have much more control over your website's layout, design, etc. Plus, you can provide exceptional service to your customers directly. On the contrary, selling on other platforms doesn't provide you with this much freedom.
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