How to Start Jewelry business In Nigeria is the focus of this business. Reading it to the end will provide you with the needed knowledge.
The business of jewelry started long ago. It has created room for young entrepreneurs to make a lot of money as the need to wear the latest design grows amongst women. You can tap into the opportunity and create massive wealth for yourself by giving people what they want to wear.
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How to Start a Jewelry business In Nigeria
Here are Guides on How to Start a Jewelry business In Nigeria:
1. Learn the skill of Jewelry trading
Jewelry business is very lucrative, yes, but you need to know the pros and cons of the business. You need to know the actual worth of every item you buy. Since the market is not a stable one, it requires a level of expertise to actually gain insight into the business.
Go under a mentor or trainee. Let him teach you the rudiments of the business especially if you intend to stock up gold pieces of jewelry that are far more expensive than ordinary pieces of jewelry so that you don’t buy fake ones and run at a huge loss.
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2. Get a name for your business
Anything that doesn’t have a name is not in existence as far as the business world is concerned. Of what use is your business without a name?
Someone somewhere will live to refer people to your business but if you don’t have a name, it becomes impossible for people who aren’t close to your business premises to easily locate you.
After you have thought of a creative name, it is pertinent that you get the name duly registered with the Corporate Affairs Commission.
Doing this may not have immediate significance until your business grows to a point where you get big deals to supply pieces of jewelry. If you get to that point without the registration of your business name, you may lose a huge amount of money.
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3. Get your Customers’ base
Who will you be selling your pieces of jewelry to? Middle class? Low class? High class? Or all classes? Before you make your first order, you need to answer the questions since it will greatly affect the quantity and quality of pieces of jewelry that you’ll have to buy.
You need to know who will be seen patronizing you. This will also help you know exactly where to site your business place and also who to go to.
4. Place your business
You need to know whether you’ll be in a shop and wait for the customers to come or you’ll be going to them or if you’ll use the two methods. Either way, your business needs to be located.
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5. Get an online presence
Gone are the days when businesses were operated in obliviousness to the power of social media platforms. Get a social media handle.
Whether you are static at a place or you are hawking the pieces of jewelry for a start or you’re doing the two, there are those clients who want to sit in the comfort of their homes and make purchases. They’ll love to see what you have online.
Just create a handle and don’t leave it empty. Upload the products you have on a regular basis, and make sure the uploaded pictures are eye-catchy.
Write articles that will lure people into patronizing you. If you cannot combine the words well, ask someone to do it for you.
6. Get marketers or do it yourself
When you start your business, rest assured that 99% of those living even around you may not be interested in what you are offering.
You need to aggressively market your business. Let the attention of people be drawn to your business except you don’t intend to make any sales.
7. Be honest
In the bid to sell their products, many jewelers tell lies and sell fake pieces of jewelry at a very high price. Don’t join the queue of the lie telling businesses.
If it is not original, let people know. Don’t be too profit-hungry that you forget that people want value for their money.
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8. Research Your Target Customers
Every business that wishes to succeed has targeted customers. You should know who or the class of people you’ll be selling to, simply search and discover the set of people that are more likely to patronize your products.
We wish you success!