Pound for pound, jewelry is perhaps among the most
expensive products in the market today. It may have been
around for centuries but it is still one of the most
sought after products in the market today. One of the
main reasons for this is because jewelry goes hand in
hand with fashion and since fashion is always in a
constant flux, jewelry remains in demand to keep up with
the changing trend in clothing.
Going into the jewelry business may seem a bit daunting
as you will not get as many chances as you would if you
went into another business because of the prohibitive
cost of the product but do it right and you will find
the business one of the most profitable in the market.
To start on this journey, there are a few basic
challenges you must overcome first.
First is the price. Although people will expect jewelry
products to be a bit on the expensive side, customers
looking for jewelry will still try to look for the best
deals in the market and one of the criteria is price.
The lower your price for your products is, the better
your chances of quickly recouping your investment. For
this reason, you must try to find the best suppliers in
this line of business. This may seem hard at first as
all you have to go on are what you got from your
research, referrals from other people and word of mouth.
Trust is the key element because you can only bank your
starting capital on this once.
Secondly, your customers will be looking for quality.
This is a bit hard to overcome as much of the time,
lower price means lower quality. Hard as this may seem,
your customers will definitely look for the best quality
offered at the lowest prices. Because of this, you must
try to find the best quality for the lowest prices by
getting as near as you can to the manufacturer of the
product itself. The fewer middlemen between you and the
source, the lower the price you can get for high quality
Third is logistics. This is a bit harder on a product
such as jewelries because of security. Going into a
jewelry business especially online will need careful
planning when it comes to shipping the products from the
supplier to you and from you to your customers. You can
take out insurance to cover you for this potential
problem but a loss is still a loss and is bad for
business. For this reason, a supplier with a drop-ship
option will definitely be to your advantage as the
supplier will have to take responsibility for your
products. This will also translate into you having less
logistical problems and thus you will be able to
concentrate more in making sales.
Starting a jewelry business, as with any other business,
then boils down to providing high quality products at
the lowest possible cost and the best logistics. These
are three important factors most people who goes into
this kind of business fail to address and that’s the
reason why nine out of ten businesses fails within five
years. Fortunately for retailers there is Salehoo, a
database service in the internet that offers retailers a
list of suppliers for millions of products. Moreover,
Salehoo has quality controls before they add a
supplier to their list so you are not only assured of
the lowest priced products but the best quality as well.
Most of the suppliers listed in one source also offer
drop-ship deals so that the retailer can concentrate
more on advertising and making sales than managing the
inventory. All of which translates into Salehoo being
the one stop shop for retailers looking for solutions
for their business. Check out their website now.
Click here to learn more about Salehoo - The ultimate
Wholesale and Drop-Ship product sourcing tool!