Among the many profitable businesses around the country, jewelry business is one of them. Sellers who deal with such business end up earning up to millions and millions of money.
It is a guarantee that a lot of people may be interested in buying jewelry. For instance, people would like to look good each and every time. This brings about them purchasing the jewelry.
This is how to start a jewelry business in Kenya:
Step 1. Define Your Jewelry Boundary
You need to figure out exactly what your jewelry business is by having specific answer for this:
Are you specializing in trendy jewelry or fashion accessories?
Are your products produced by hand or by a high-end manufacturer?
Will you be able to work from home or will you have to rent office space?
Do you want to do it alone or do you need to employ help now or in the near future?
What will you charge for your goods?
What distinguishes your jewelry from that of your competitors?
Who do you want to reach out to?
How much money will you require to get your business off the ground?
How do you want to promote your company?
Step 2. Financial Planning
Along with your business plan, you should create a budget that includes starting expenditures such as
- Tools and equipment,
- Marketing materials,
- Licenses,
- Permits,
- Educational courses,
- Office or coworking space,
- Pay for any employees you may hire,
- Daily expenses.
Step 3. Study Your Competition.
Examine the following examples of successful jewelry firms that you respect and want to replicate in some way:
What is their point of view, and why is it so effective?
What is their target market, and what is their marketing strategy?
Where and how do they market their wares?
Do they only sell through their website or do they use another platform?
Step 4. Legalize Your Jewelry Business
Get business permits and all the licenses needed to legally run your business.
You don’t want a situation where you are attending to your clients the county personnel ‘Kanjo’ come arrest you, you will lose your clients.
Step 5. Buy Your Jewelry In Wholesale
Jewellery wholesalers in Kenya can be found in Eastleigh jewellery shops, or the shops along Dubois road and Perida Center building in Nairobi CBD. You can find other in Kamukunji but the latter two jewelry wholesalers are great.
Jewelry making supplies in Kenya can also be found in Eastleigh, Dubois road jewellery shops, and in Kamukunji.
Eastleigh jewellery shops are greatly known for having the best jewelry deals. The shops sell necklaces, rings, bracelets, beads, Knick Knacks and gems at very affordable prices. In addition, you can find more deals along Dubois road jewelry.
Step 7: Selling Your Jewelry
Its time to start earning from your business. The good thing about jewelry business is that you can sell jewelry from home.
You only need a strong online presence whether through social media platforms such as Facebook or Instagram, or through your own website.
Also, you can have a dedicated shop where you sell. Be sure that if its online business do your math well to include delivery cost or risk running a loss or get scammed.
Keep marketing your business as much as you can to be on top of your competitors.
Step 7. Keep Your Personal And Business Funds Separate.
It’s a smart idea to start segregating your business and personal funds now that you’re a legally running firm. This is important for a variety of reasons.
To begin with, this separation will protect your personal money from business-related legal concerns, as well as ease your tax-filing operations.
Watch can also be included in your jewelry shop. Watch business in Kenya is a very legitimate business to venture in. with a capital of about Ksh. 25,000, you are able to start importing the watches and selling them at good prices. As time goes by, you will then realize very high profits.
Let me hope that by now you have the relevant knowledge you were looking for. Also I believe that this article was of great importance to you.
