How to open a jewelry store
Jewelry store is a profitable and prestigious type of business. The need for jewelry is always there. The high margin on the product provides a good income, which is about 300 thousand rubles per month.
Jewelry is always appreciated. Now most people wear at least one piece of jewelry. During the holidays, sales of jewelry stores increase significantly. Profit from sales of this store is very significant. Then why not all entrepreneurs manage to succeed in this business? The specifics of the goods, large initial investments and difficulties in the preparation of documents can become a barrier for beginners. Therefore, only those who have practical business experience and accumulated funds can implement this idea.
Prospects for the jewelry business
Jewelry business is quite a popular area. The demand for jewelry is high, although in recent years it has steadily decreased due to a decrease in household income. Against this background, inexpensive but original decorations are becoming relevant. To succeed in this business will be able to those stores that correctly make up the range and will be able to guess the preferences of the target audience.
To summarize, about 90% of the country’s population are potential customers for jewelry stores. The problem is that not all of these 90% can really afford to buy jewelry. In large cities, the percentage of real buyers is 30%, and in small ones it is no more than 10%. But even with a small amount of sales, the jewelry store can make a lot of money. Due to the high mark-up on the goods on the sale of only one jewelry, you can earn an average of 20-25 thousand rubles. So, the jewelry store remains in demand: both from entrepreneurs and consumers.
Documents for opening a jewelry business
First of all, you need to collect a full package of documents. The list includes a standard set of registration documents and permits for the trade in jewelry.
For the sale of jewelry it is better to register an LLC by specifying the OKVED code “47.77.2 – Retailing jewelry in specialized stores.” As for taxation, it is better to choose a general scheme. Why is it more profitable? Firstly, such a business does not bring stable profit – it happens that there is no sales in one month, and in the other it is possible to earn 300-500 thousand rubles. Secondly, due to the instability of trade and high risk you are entitled to tax breaks. As a result, you will not pay 24%, but about 13% of the total profit.
In addition, to register the jewelry business, you will need to issue a number of documents:
Resolution in the Assay Office;
License to trade jewelry;
Special certificate for the sale of emeralds and diamonds (if they are in the assortment of the store).
Ready ideas for your business.
Keep in mind that all jewelry that is sold in a store must have certificates indicating the precious metal sample, weight, and also with confirmation that you have the right to dispose of this product.
Like any retail space, a jewelry store must receive a permit from SES. Since the cabin uses fluorescent lamps in which harmful metals are present, care must be taken to dispose of these lamps. To do this, enter into an agreement on the export and disposal of lamps. It is also obligatory contract for the removal of garbage, in particular, broken glass (since mirrors are used in the sales area).
Room for a jewelry store
To trade was successful, you need to think about the location of the store. Jewelry is not a commodity, so it’s profitable to open a store:
in a large shopping center;
in the central or crowded streets of the city;
close to business complexes, hotels, restaurants, banks, etc.
Before making a final decision on the location, examine whether there are competitors nearby. Experienced entrepreneurs disagree on whether to open their jewelry store next to competitors. On the one hand, so you can lose customers. On the other hand, the choice of jewelry is quite individual. The range in stores is different. Very often, a customer first goes around several shops and only then makes a choice. Therefore, the neighborhood with another jeweler can be beneficial for you.
For a jewelry store, a room with a total area of at least 30 sq.m. Rent will cost about 50 thousand rubles a month.
Interior jewelry store
Special attention should be paid to the interior of the trading floor. On how the product is presented, depends on the impression of buyers and the level of sales. Moreover, it is important for jewelry. They are associated with a holiday, high status, and therefore the design of the store must comply. For decoration jewelry stores are usually relevant: the severity of the lines, one-color scale, high ceilings, free space, good lighting, a lot of mirrors. It is not recommended to use in the design of bright colors, different patterns.