Jewellery and the richness in their designs had always been an intrinsic part of Indian culture. Though the jewellery craze in India goes mainly to silver, gold, or diamond-studded ones, the price hike in such jewellery has shifted the modern trend of artificial jewellery.
Recent researches show that the artificial jewellery demand has hiked up exponentially by roughly 85% in India. In fact, the artificial jewellery business in India contributes about 5.9% of the country’s GDP.
The numbers clearly show that the artificial jewellery business in India has a bright future with high growth opportunities.
Now that the global COVID-19 pandemic has created a better opportunity for entrepreneurs to conduct business online or from home, home-based jewellery-making is evolving in India with women entrepreneurs. It is a promising small-scale industry that offers businesswomen to show their art and skills.
There are different ways of doing the artificial jewellery business from home. You can do it with your social networking, by signing contracts with some store, making them at home, or working as a reseller if you are confused about the best way to start the business. Here we have 4 tips to make the journey easier.
To decide on the ways of selling, you need to understand your options for selling jewellery from home-
If you have chosen your preferred method of starting your artificial jewellery business, it is time to choose the niche. Your business niche is the key to your business’ success. The options you get for your business are-
We suggest choosing a niche by observing the jewellery trend and understanding your preference.
Even if it is a home-based business, you need to give it a name and get it registered. Consider these points while naming your business-
Once you decide your name, get your business registered and initiate with promotion.
Setting up a business is not sufficient alone. You need to indulge in artificial jewellery promotion. Launching a website is definitely a way to initiate the promotional process. Apart from that, you can promote your jewellery through social media platforms. You can also try offline modes of business promotion.
The cost behind starting an artificial jewellery business at home
The cost behind initiating an artificial jewellery business from home varies with the mode of business you decide. Starting off as a jewellery manufacturer usually needs a lower investment. There is no establishment cost behind it if you are running the business from home through online platforms. However, if you want to run the business as a wholesaler, the procurement cost is high.
If you are starting an artificial jewellery business, it involves a capital investment of Rs. 10,000 – Rs. 1 lakh.
Starting a home-based or online artificial jewellery business doesn’t require any professional degree. The entrepreneur needs to have creative skills to initiate the business.
The demand for artificial jewellery is currently very high among women. From parties to daily wear, women are choosing imitation wear over gold jewellery. Artificial jewellery is an economic option for fashion has increasing demand in the market; hence, if you have a plan to start an imitation jewellery business from home. Decide on a product niche and business model and start selling them at a reasonable rate.
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