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Indians love jewelry in silver, gold, platinum, diamonds and more for various occasions and also as daily wear. It is a part of Indian culture and especially important during weddings, parties, family functions etc. Of course, rising gold and real jewelry prices are big hurdles for buying jewelry in India. But, Indians are not outdone, and their love for displaying jewelery has been growing the artificial jewelery market over the years.
How To Start Artificial Jewellery Business At Home
Cost is negligible; Looks authentic and is available in a modern design. It’s customizable too! Demand for artificial jewelery business in India, a recent research publication states that the growth is significant and has increased by around 85%. This trend is significant for the imitation jewelry business today. It contributes 5.9% to the country’s GDP. Want a piece of the market? Now is the time, and here’s why!
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The pandemic that started in 2019 inspired entrepreneurs to start small businesses online and from the privacy of their homes. Those whose income has been affected by COVID-19 have taken the initiative of selling various products from their homes on online platforms, leveraging their circle of contacts etc. to increase their income. Online platforms provide entrepreneurs with the right economic infrastructure to accelerate their growth and threaten the existence of brick-and-mortar stores that have suffered from one-by-one closures. Indian jewelery making at home has also picked up speed.
Especially women have entered the fashion industry, making fancy ornaments, selling clothes online, selling cosmetics online and of course, making jewelry at home or selling imitation jewelry online. And, many did, as the home market imitation jewelery business was growing and decently profitable.
Did you know it takes only four to five days to start a business in the US?
If you want to make jewelry at home, in manufacturing or in an offline store, remember that this option involves a lot of finished products. Along with this comes the high cost of setting up a brick and mortar store, employees, manufacturing process efficiency, energy, licenses and more. But be aware that frequent blockages, high initial investment and break-even periods can be quite long. Another very popular option for women and working people is to start an online jewelry business.
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How to start a jewelry business at home? Our step by step guide “How to start Artificial Jewelery Business in India” takes you through 6 easy steps to take your business online from the comfort of your own home. 1. Decide how you want to sell:
First, decide how to start a jewelry business and how you want to sell your products or jewelry.
After deciding how to start your jewelry business, you need to find your USP or Unique Selling Proposition. This makes you unique, different from competitive imitation jewelry sellers and increases your sales quickly. Ask yourself what motivates and interests you, how your products are different, what markets you sell to, what kind of inventory you need, what can increase your sales, and more. Proper research and planning after your product selection will keep your motivation high during times when sales may be poor.
Finding the right name and brand of artificial jewelry for your business takes a lot of creativity.
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Once you name your business, get it registered and licensed. This step can make a big difference in authenticating your business in the minds of your customers. Choosing a proper name for an online and brick and mortar showroom is essential.
A smart entrepreneur makes decisions based on diligent research. Research on competitors’ products, designs, style trends etc. Customers need to give them unique products and designs that are new and trending. Of course, jewelry is a story of “the pride of the owner and the envy of the neighbor,” even in imitation jewelry. A twist is to produce unique, one-of-a-kind handmade items. You can also follow trending designs worn by celebrities to inspire your own creations. Ultimately, the goal is to maximize your profits through your well-researched unique styles and products.
An online presence is essential for your brand. Plus, it speaks volumes about your brand and business. Start a blog to talk about how you’re unique, tell stories of satisfied customers, and watch your profits soar in today’s technology-driven world. Your website helps with shipping, product delivery, payments, new arrivals, inventory control and more. You can also analyze the sales from your website and understand the areas you need to improve. Make sure your logo identifies your brand and your business.
You can’t wait for customers, and you need to reach them in a planned and strategic way to increase your sales. Marketing is essential for all businesses big and small. Use social media platforms, SEO, effective content writing, referral marketing, discounts, email campaigns, blogs, etc. to reach more customers.
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Build your mobile e-commerce website and application with the tools available on websites such as Magento, Thycart, Big Commerce, Woocommerce, Open Cart etc. It can help you offer your handmade or unique products at reasonable prices. Viewing your products, maintaining your inventories, tracking your profits and more can be done with Google Analytics and synchronize your products.
Artificial jewelry is a great alternative to real gold ornaments, as they are cheap, can be used to accessorize your clothes, and have a wide range of products readily available in the market. Women and men alike love grace and elegance in their clothing style. The basic rules to practice for starting your own jewelry business are maintaining ethical standards, having a large and well-studied business plan, and staying motivated during times of poor returns. It is advisable to test the waters with an online jewelry business at home to gain marketability, profitability and the trust of the wholesale market. Bad times are here to stay, and there is much to be learned from first-hand experience. However, stay motivated and persevere.
Did you know that if you are an imitation jewelry business entrepreneur, this is a great app to have on your phone? It can help you track your GST, employee attendance, accounting and profitability and more. Say goodbye to your accounting problems with this and good luck with your business!
Answer: It can be 30 to 40k and more, starting from a small synthetic online resale business depending on what you want to earn from it.
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Q: How to start a jewelry business in India with a website or sell on platforms like Amazon, ETC etc.?
Answer: Both proposals have their advantages and disadvantages. Using your own website gives you many benefits such as direct customer interaction, control over analytics, design and layout, customer service reviews, etc.
Answer: Jewelery making degree is available from many reputed institutes. However, you don’t need a degree to start your own imitation jewelry business. You need to stay motivated and use your skills to grow your business.
Answer: Your inventory depends on your jewelry product. Artificial jewelry is available as wedding accessories, bracelets, chains, finger rings and more. They can also vary in silver, gold plated, 1-gram gold jewelry, customizable jewelry, necklaces, anklets and more. Keep in mind your budget, business plan, customer base and ability to identify salable items.
How To Start Artificial Jewellery Business At Home In Hindi
Answer: Business cost depends on your jewelry business concept and model. Ask yourself if you are thinking of starting a small home business, a grocery store, an online retailer, a wholesaler, etc. Renting a store can be expensive, while online resale platforms are the least expensive, requiring no storage or wholesale. Buy from Jewellers.
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