As the baby boomer generation continues to retire, more retail jewelers will need to find new ways to attract younger customers. With many young people shying away from the jewelry trade, these retail businesses will have trouble finding younger employees to continue the business. The future of this industry is uncertain, as the industry is experiencing a transition from a brick-and-mortar store to an online one. While this transition has led to a reduction in the number of jewelers, it is not an entirely negative one.
Whether you’re a seasoned professional or just getting started, there are many different ways to get into the jewelry industry. One of the most rewarding aspects of this career is selling jewelry. Retail jewelers may specialize in custom-designed pieces, sell popular jewelry lines, or even create their own lines. Retail jewelry stores may also offer jewelry for special occasions or sell products created by big retail companies. The main advantage of owning your own retail jewelry store is that you can sell a wide variety of products, including custom-designed pieces.
Visiting an independent jeweler is the best way to experience the high-quality jewelry that independent jewelers offer. Independent jewelers are more likely to have unique pieces, whereas online stores usually carry mass-produced pieces. In addition, these independent stores often have one-of-a-kind pieces, meaning you can find a piece that no one else has. And if you have extra cash to spend, you can even purchase an entirely unique piece from a boutique jeweler.
Buying fine jewelry from a small business is an excellent way to save money. While big-box retail jewelers are more likely to offer a better price than a smaller independent store, these big-name retailers have high overhead costs and invest heavily in marketing campaigns. By contrast, small-scale, independent jewelers rely on word-of-mouth for their marketing efforts. In addition to their high overhead costs, chain jewelry retailers also incur expensive staffing costs, largely due to turnover.
Before opening a jewelry store, be sure to check zoning laws and building codes. A CO is a necessary part of the legal process for retail businesses, and will simplify annual tax filing. You may also want to get a state license, which can cost several thousand dollars. The SBA has a resource for finding state licenses. If you’re looking to rent space for your business, you’ll also need to get a certificate of occupancy. This certificate confirms that the business meets local zoning and building codes.
In addition to brick-and-mortar retailers, you can also shop online for jewelry. Many online retailers offer free shipping, ring sizing services, and lifetime warranties. There are online jewelers for every budget and style. With a bit of research and comparison, you’re sure to find the perfect jewelry piece for your budget. Once you have found a reputable online store, make sure to check the reviews to make sure the service and product quality is worth your time.
