Handmade Jewelry Shop Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Handmade Jewelry Shop Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Handmade Jewelry Shop business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Handmade jewelry stores are very popular within tourist focused markets. These businesses typically do well when they are able to have hundreds or thousands of people passed by the store on a day-to-day basis. As such, these types of businesses typically do well when they are able to. The startup cost associated with the new handmade jewelry store are relatively low. Usually, these businesses have a start cost ranges anywhere from $25,000 to $100,000 depending on the retail space. One of the nice things about these businesses is that they are able to generate revenues not only from direct retail sales within a brick-and-mortar location but also online.
Additionally, jewelry that is been produced on a proprietary basis by the business can be sold along with third-party artisans that are showcasing their work on a consignment basis. There are a number of online platforms at the handmade jewelry store can enroll in order to further drive sales on an e-commerce basis. As it relates to gross margins, typically the gross margins on a piece of proprietary produced handmade jewelry is around 70% while consignment pay sales from third-party artisans carry margins of around 40% to 50%. These percentages can vary depending on whether or not the item is sold in the retail store or through the company’s online operations.
Given the low start up costs, the fact that it is a retailing business, and moderate gross margins most financial institutions are willing to provide a small business loan or working capital line of credit in order to further the growth of the business. Of course, handmade jewelry business plan is going to be required. This business plan should feature a three year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. A thorough demographic analysis outlining the types of people that will purchase handmade jewelry should be included as well. This demographic analysis should focus substantially on the female buying audience as they are typically the individuals that purchase these products the most. A competitive analysis should also be developed in order to ensure that the business is being launched in a market that is not overly saturated with handmade jewelry stores.
A handmade jewelry store SWOT analysis should be produced as well. This document showcases the strengths, opportunities, weaknesses, and threats that are faced by these businesses on an ongoing basis. As it relates to strengths, handmade jewelry stores can be started for a very low amount of money and can generate income not only from proprietary product sales but also from consignment sales as well. These businesses can make sales from anywhere in the world via its e-commerce platform.
As it relates to weaknesses, handmade jewelry stores do face issues when an economic recession occurs. These items are purchased with discretionary income, and they may see a decline in the amount of sales during a severe economic recession.
For opportunities, handmade jewelry stores can expand by rolling out additional proprietary lines of products that can be sold to the general public in both a brick-and-mortar capacity as well as to the comp companies e-commerce platform. Additionally, third-party artisans within the target market can showcase their work for sale at the facility in exchange for a substantial commission. This is typically the way that most handmade jewelry stores are able to aggressively expand.
As it pertains to threats, outside of a major economic recession the biggest issue faced by these business is competitive issues.
A handmade jewelry store marketing plan also needs to be developed in order to ensure that the business can easily reach a very large audience. Foremost, most entrepreneurs that start this type of business typically try to source a high visibility location especially within a highly trafficked tourist market. While this may translate into somewhat of a higher rental expense at the onset of operations, the return on investment by maintaining a higher visibility location can greatly assist the business with reaching profitability very quickly. One of the other key things to succeeding with a handmade jewelry business is to maintain an expansive online presence.
The company should have a website that showcases all of its inventory for sale, and have a substantial amount of e-commerce functionality so that third parties can purchase the goods directly from the company via the website. Almost all handmade jewelry businesses also maintain profiles on platforms such as Amazon, Etsy, eBay, Walmart.com, and other platforms allow for the third-party sale of handmade jewelry. This ensures a very high turnover rate and also provides the ability to discount slow to move goods. Although there is some expense with developing an expansive online presence, in this day and age it is almost imperative to have an e-commerce presence in order to ensure that the business produces enough revenue to cover all of its underlying expenses. One of the other ways that these businesses are able to market their products to the general public is to frequently attend street fairs as well as other related gatherings that have allowed the business to make sales to the general public. This cannot only create an additional stream of revenue, but it can also provide a substantial degree of additional visibility for the business.
Handmade jewelry is very popular among all types of buyers, and will continue to be popular moving forward. People love having unique pieces of jewelry that has been produced by local artisans, and for a qualified individual that knows how to produce the jewelry and run a business these can be profitable small businesses.