How to start your jewelry business? What should you pay attention to when opening a jewelry store?

Jewelry stores should cater to customers who buy jewelry rather than buying from websites or discount stores. Local jewelry stores often build loyal customer bases because customers don't like the personal service provided by online or mass-market retailers. The U.S. Bureau of Labor Statistics states that full-service jewelry stores can retain existing customers for repairs and adjustments. The custom jewelry market sector is also booming since 2010, leading to opportunities for qualified jewelers to craft stunning and unusual designs.

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Register your jewelry business

Design a business structure with the help of people familiar with the retail business. Common business forms include sole proprietorship, limited liability company, and branch X. Meet with a commercial insurance agent to take care of liability claims. Visit your city or county office to apply for a business license. Contact your local tax department to obtain a sales tax license.

Leasing a Suitable Jewelry Store Location

Find a storefront that is easily accessible from major roads and offers plenty of customer parking. Make sure the building has display windows to display your jewelry items. Find an address nearby that has a high-end women's clothing store, a gourmet kitchen store, or other retail stores. Manufacture signage to create a tasteful architectural identity that depicts your jewelry business.

Make a list of competitors for jewelry stores in your area

Visit jewelry stores in your city and surrounding towns. Check the store's size, configuration, and jewelry product lines. For example, note whether the store focuses primarily on low-priced and gemstone jewelry; or displays higher-priced diamond jewelry. Ask about other services such as jewelry repairs, as well as custom jewelry design events featuring recognized experts. Observe employee interactions with customers.

Post your products and services

Analyze your competitors’ jewelry product lines and identify underserved areas. Choose items that suit different style preferences and price points. Including rings, necklaces, earrings and other traditional jewelry. Add fashion pieces like anklets and custom necklaces. Jewelry repair services and consideration of custom jewelry designs. Work with a graphic designer to create an elegant brochure describing your jewelry items and repair services.

Order your jewelery store display cabinets

Purchase a range of lockable jewelery display cabinets from specialist display suppliers. Include large display cases with multiple shelves, as well as smaller freestanding display cases to display smaller collections. Look for specialty boxes and other storage bins. Order display cabinets in the same style to coordinate. You can ask for a discount if your order is large.

Buy Wholesale Jewelry

Order diamond rings, bracelets, earrings and necklaces. Choose from different sizes of gems and settings. Add fine jewelry for women and men, as well as some specialty jewelry. Shop for gemstone earrings, necklaces and bracelets in both traditional and contemporary settings. Order your items from wholesalers to maximize your profits.

Hire Personalized Jewelry Professionals

Recruit employees with experience in jewelry sales. Research a paid gemological education program that encourages professional certification of employees. Many gemological institutes offer professional jewelry courses. Train employees on jewelry sales skills. Train your employees to present jewelry to customers while using certified safety procedures. Staff protocol for discussing theft or robbery scenarios. Install an alarm system and a security guard.

Host a grand opening jewelry display

Welcome your customers with a complimentary rose for each shopper. Drawings are made for a piece of diamond jewelry and distributed to customers. Offer discount sales on high-margin items. To encourage year-round shopping, introduce your staff as special occasion consultants who can assist with gift selection. Advertise in newspapers or on websites. Place flyers in hair salons, spas and fitness centers.