If you are an entrepreneur who loves fine jewelry, why not start your own jewelry retail business? You might think this would be too difficult, yet all you have to do is team up with a reputable jewelry maker, who can create stunning jewelry to your specifications.
Sourcing a jewelry manufacturer
If you are looking for the best quality jewelry manufacturing, there is a Thai company with a great reputation within the industry and they can create a collection that is based on your concepts. This type of business has access to wholesale gemstones and they would be able to certify all precious stones, which is an absolute must these days.
Source jewelry images
Once you have a working agreement with an established jewelry maker, you can use their images on your website and when a client chooses a piece, you simply place the order with your partner. This allows you to show many fine pieces without having them made, which would cost a lot of money; secure a deposit from the client and the work can begin.
Building a website
Of course, your website must be professional-looking and hiring a leading web designer would be the obvious choice for such a business. You might wish to create a few pieces prior to launch, so that you have products to show on your digital platform
Setting up a retail outlet
Of course, you will need a store and this will be a sizable investment, especially if you plan on being in the trendy part of town. The best way to operate a high-end jewelry business is ‘viewing by appointment only’, which means you don’t have to staff the premises; you simply arrange to meet your client at your store/studio. Is it possible to sell upmarket jewelry online? Not really, you do need a plush retail outlet if you expect a client to part with thousands of dollars, while your website would also play a major role in the business. If you are looking to acquire a diamond & sapphire ring, click here.
You will need to invest heavily in online marketing to launch your exclusive brand of quality jewelry and this needs to be ongoing; the digital marketing agency would decide where to place the ads, plus they track performance. Don’t expect miracles overnight, as it can be a long and tedious journey to creating a brand that people trust and you will need deep pockets to get you through that first year.
When you partner up with a leading Thai jewelry manufacturer, they sign an NDA that ensures no one ever knows that you are not making the products and your secret is safe. Of course, not just any jewelry maker will do, rather you should take your time choosing and visit their factory several times in order to see the extent of their operation.
If you are planning to open your business in Thailand, do contact the BOI, who can offer attractive concessions to foreign investors.