- 1 Scope of the artificial jewellry business
- 2 How to start a jewelry
business from home?
- 2.1 If you want to resell
- 2.2 Where can I find raw material for imitation / Artificial jewelry in India?
- 2.3 Where is the best wholesale market in India for imitation /artificial jewellry ?
- 3 General wholesale and retail margin of jewelry in India.
Scope of the artificial jewellry business
The range of artificial jewelry in India is very high: the limit is the sky. The new generation in India is not really attracted towards gold jewelry as our previous generations used to be. Young people today prefer to change jewelry every few months, which is not possible with gold jewelry, since it is very expensive. Again, some of these modern designs cannot be made in gold or simply do not look good in the bright yellow color.artificial jewellery business
How to start a jewelry business from home?
First, let’s know how to get started … some basic tips to help you set up your handmade jewelry business …
Make a business plan:
Either a small or large company or just a home-based business, such as jewelry manufacturing, is a business after all. An essential tip is to have a business plan. Your plan helps you set your goals, initial costs, how to organize costs and maintain and expand your business, what jewelry stores you are doing, where to sell, etc.
Decide the type of jewelry:
decide the type of jewelry you are able to make at home. Artificial jewelry can be made of various materials … threads, ropes, beads, fabric, metal, plastic, wood, etc. What type of jewelry are you able to make on your own? Later, you can include different varieties. Some women also prefer to buy artificial jewelry in bulk in wholesale markets and sell at higher prices in retail.
Choose a name for your jewelry business
for any business, you need a name to reflect your business and your product. Choose a name that is creative, somewhat catchy and, at the same time, reflects the type of jewelry you make. Choose your jewelry trade name with careful consideration.
Have your own workspace:
even if it is a home-based business, you need a workspace to make your creations. Choose a room or any space where you can work in silence, and at the same time, the room must have adequate spaces / shelves to store your creations. The space must be clean and compact.
Get your supplies of jewelry material:
A home jewelry business does not require much of the initial investment costs. But yes, you need to spend to get the raw materials to make your handmade jewelry. Make a wise selection. Make a list of the items you need. And go buy wholesale. Wholesale purchases help you get things at low cost.
Be an expert to make handmade jewelry:
now that you know the art of jewelry making, start creating jewelry pieces with unique designs and styles. If you think there are more possibilities to learn new techniques in jewelry making, do not hesitate. Learn new skills and techniques. After all, learning has no end.
Decide on the market:
once you have the products ready, now decide on the market. There are many options to choose from:
- You can sell your stuff at home. This has a limited customer base, usually your acquaintances, friends, colleagues, family and neighbors.
- You can sell your products at craft fairs, exhibitions, local events during festivals.
- You can rent a space and sell your products in the retail market.
- You can sell through social networks: Facebook, Instagram or WhatsApp
- You can sell online by having your own website
Plan Your Strategy
- Initially keep your margins low.
- Tell your friends, family and neighbors about your new business. You can also promote through your kitty groups and other WhatsApp groups.
- You can also participate in various exhibitions and fairs.
- If you start a store
- First look for a store in a commercial area.
- A store is a great investment, so make your decision after doing research on your competitors and a proper market survey.
- Keep all kinds of things, both fine and medium quality, for all types of customers.
- Treat your customers properly & always be genuine and honest with your customers.
If you want to resell
- artificial jewellery business-Jewelry resale is very popular these days. It is more common in women, since they can earn a good amount working from home, almost no investment required.
- To resell, identify some brand owners, add your streaming list and post their latest updates on their Facebook page, Instagram and also in their WhatsApp groups. Whenever you receive an order, brand owners will send the products to the customer from their name.
- Usually they accept payments through paytm or bank transfer
Where can I find raw material for imitation / Artificial jewelry in India?
Where can I find artificial jewels that make karigars that can make designs at a really low cost for artificial jewellery business?
The Indian jewelry materials market [supplies] is totally disorganized, it is not in Yiwu / China or Paris and other international markets.
- If you have been to Delhi, you will find metal parts in Turkman Gate, Beads and other things in Kinari Bazar [Don’t think of Sadar Bazaar, as it is for finished products].
- If you are in Mumbai, you can head west of Malad, the Ijmima Complex [very few material stores] or Pydhonie in Mumbai.
- If you are in Bangalore, head towards the Raja market.
- If you are in Varanasi, you can search the Beniya market.
- If you are in Chennai, find a couple of stores on Narayana Mudali Street.
- If you are in Jaipur, locate them in Gopal ji ka Rasta in Johari Bazaar.
There is a common problem with almost all of these:
- Bulk packing
- No guarantee on the quality of the products
- There are no related products or a range of products or complementary products available.
- Any available metal part is not plated, and must be plated, which is a nightmare for a designer.
- No standard packing price policy
Where is the best wholesale market in India for imitation /artificial jewellry ?
If you are in artificial jewellery business buy things by volume, it makes sense to get them directly from the manufacturers. You can contact manufacturers of tradeindia.com, from all over India.
Few better places where you will find good things at a reasonable price are:
- New Delhi – Sadar Bazar, Hauz Khas Village, Chandni Chowk
- Jaipur – Johari Bazaar, Bapu Bazaar, Tripolia Bazaar, Saraogi Mansion Basement
- Hyderabad – Laad Bazaar, Abids Street, Mozzam Jahi Market, Koti Sultan Bazar
- Ahmedabad – Bapu Nagar, Kadia, Lal Darwaza, Kalupur, Paldi
- Mumbai – Boiwada bhuleshwar, Malad
General wholesale and retail margin of jewelry in India.
It depends on the place of purchase, if buying in the wholesale market will vary from 10% to 15%, the retailer ends up earning between 1000% and 300% of the cost, it depends largely on the location.
High street vs. Mall retailers will have high margins on their side, obvious for the recovery of high sales costs.