Online Jewelry Store Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Online Jewelry Store 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 an Online Jewelry Store 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
Online jewelry stores, subject to fluctuations in the economy, are generally able to remain profitable and cash flow positive given the fact that they operate in an online capacity. The barriers to entry for a new online jewelry store considered to be moderate although this can be significantly easier to enter if the types of jewelry are not considered to be overly expensive. One of the most typical aspects of developing a new online jewelry store is the fact that a significant amount of inventory needs he purchased. Jewelry – by its very nature is expensive – and as such. an entrepreneur is going to need a significant capital investment in order to launch this type of business operation. Typically, the startup costs associated with developing a new online jewelry store range anywhere from $50,000 all way up to $1 million depending on the amount of inventory that is going to be held at any given time. Many smaller online retailers focus on using drop shipping and just-in-time delivery methods so that they can offer a significant amount of product selection to their customers without having the first to acquire the inventories. As these businesses expand they will usually acquire a working capital line of credit or trade line so that they can properly acquire inventories and boost their overall gross margins. Generally, the gross margins associated with the sale of jewelry in an online capacity ranges anywhere from 20% to 60% depending on the type of items sold. One of the primary ways that these businesses can create a competitive advantage while also boosting their margins is by being able to offer customized jewelry to their customer base.
Given that these businesses deal in precious metals and gems – most banks, lenders, and private investors are willing to put up a significant sum of money in order to start this operation. These companies are considered to be relatively low risk as it relates to other types of Internet-based retailers. With all capital raising activities, and online jewelry store business plan is going to be required. This business plan should have a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. A significant amount of attention should be paid to developing a financial model that clearly showcases the inventory turnover of these businesses. For banks and lenders – they are going to want to see that the capital being sought is primarily used for the acquisition of tangible inventories or furniture, fixtures, and equipment. All lenders want to see a fully collateralized investment with the owner or a third-party investor providing at least 20% of the capital needed to launch this type of business. After discussing the anticipated financial results of the business, special attention should be paid to the demographics that will be targeted in the course of the company’s marketing campaign. This examination should include age, gender, household income, family income, and geographic regions targeted. These businesses have tend to thrive in areas that are considered to be wealthier.
Once the business plan is complete it is time to develop the online jewelry store marketing plan. This document should focus heavily on the pay per click and search engine optimization techniques that will be used to boost the visibility of the businesses website. For most, most jewelry stores will also maintain profiles on third-party selling sites like Amazon, eBay, and Etsy. This will drastically improve inventory turnover over the life of the business given that many people trust these third-party websites as it relates to purchasing products. A presence on social media is also very important given that many people are constantly searching for specialized deals as it relates to jewelry. Most online jewelry stores maintain extensive profiles on FaceBook, Twitter, Instagram for photos, and Google plus. Frequently, once a very large following base has been developed in the entrepreneur can simply blast out specialized deals on an ongoing basis. This, in turn, will assist the entrepreneur in ensuring that the highest profits are generated while keeping inventory turnover at a very quick rate. As it relates to brand positioning many online jewelry stores will hire a third-party marketing firm that will assist the company in developing marketing messages that target the specific demographic.
An online jewelry store SWOT analysis should also be developed. As it relates the strengths, these businesses will not immune from negative changes in the economy can rapidly increase or decrease the their scale depending on current demand. The barriers to entry are considered to be moderately low and the gross margins generated from sales are considered to be moderate. For weaknesses, these businesses are highly competitive and price is a major differentiating factor among individual sellers. As such, it is incumbent upon the entrepreneur to develop a very streamlined method of logistics in order to ensure that these costs are kept to a minimum. For opportunities, these companies can quickly provide customization will also branching into other markets such as semiprecious stones and semi precious metals. As it relates the threats, technology is constantly changing and online jewelry stores need to continually integrate new technology into their operations in order to ensure that as many people as possible are finding the website on an ongoing basis. It can be expected that at least 10% of the total revenues generated are going to be allocated towards online marketing expenditures. While this is a threat faced by all businesses – this extremely competitive market requires a constant fine-tuning an understanding of the constant we changing technological landscape.