Strategies For Success In The Exciting And Lucrative Home-Ba
By Sam Serio
The business of jewelry is one of the most fun, exciting and profitable businesses that exist. The demand for jewelry by consumers is unrelenting and consistently growing. Like any other business worth pursuing by a new- comer; the jewelry business requires research, ongoing education, focus and persistence. Fear not,the rewards for this effort can be well-worth the investment of time and energy making jewelry one of the best home-based business opportunities available.
Finding your Niche
The world of jewelry is vast and can be overwhelming. It is imperative that the prospective jewelry entrepreneur narrow down to a specific area in which to concentrate there marketing efforts. In other words, you must avoid the temptation to spread-out in several directions. Rather, you should become an expert, a specialist. The ideal is to find a niche within a niche. Stake your claim and mine that pocket deep and hard. For example, sterling silver cat jewelry ,14 KT. gold Celtic jewelry, wire -wrapped birthstone jewelry etc.
Selecting your Approach
After the budding jewelry entrepeneur has settled on their niche, they must decide which business model makes the most sense to them. The following represent five basic strategies that one might follow:
1. Buy wholesale-sell retail- Remember, you make your profit by buying well. Any Search Engine will reveal countless wholesale sources, move steadily forward. Do your research. Not all wholesalers are equal. In fact, many so-called wholesalers are not really wholesalers at all and prey on the unsophisticated. Applied knowledge is key here.
2. Import directly from manufacturer and sell wholesale. This strategy is not the best for beginners, but if you have ties and are comfortable with a country like India, Thailand, Mexico and others. This can be a lucrative approach. Start small and learn the ropes before you grow.
3. Become an affiliate for an existing web-based jewelry company. This strategy is excellent for beginners, as it requires no inventory and you use the company's web-site. Also, they handle the product fulfillment and shipping. This is a great, low-risk way to get started.
4. Join a jewelry MLM- There are some advantages here and some individuals enjoy this type of marketing, again, do your due-diligence before you jump-in.
5. Make and sell your own jewelry- If you have the talent and the time, this path can be very rewarding. One tip, unless you want to be a starving artist; find out what type of handcrafted jewelry consumers will actually buy and produce jewelry for that market.
Marketing and Selling Jewelry
Once you have identified your niche and selected your approach, you need to explore marketing and selling for profit. Here are some suggestions for how and where to sell jewelry.
1. Special Events- Craft shows, wine festivals, Celtic festivals, street fairs etc. In the beginning, concentrate on low-cost booth fees i.e. under $100 until you gain experience.
2. Home parties- Low overhead. These can be a goldmine if you work them well. Referrals are the key to success.
3. Ebay- an easy, low-cost way to sell jewelry on the internet.
4. Your own website.
A. Ebay or yahoo store- both are excellent because of there built-in shopping audience and credibility.
B. Buy and fix-up a previously owned website-Many websites are For Sale by Owner on ebay.
The jewelry business can be a wonderful full or part-time home-based business. Use this article as a basis for your education. Learn everything you can about your chosen niche, study marketing and develop your selling skills. Keep a positive attitude and success will certainly follow. About the Author: For more information on jewelry and gemstones, we cordially invite you to visit www.morninglightjewelry.com to pick up your FREE copy of “How To Buy Jewelry And Gemstones Without Being Ripped Off.” This concise, informative special report reveals almost everything you ever wanted to know about jewelry and gemstones, but were afraid to ask. Get your FREE report at www.morninglightjewelry.com.
Source: www.isnare.com
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What Everyone Should Know About How To Buy Wholesale
By: Melanie Burns
Finding a supplier for the product you want to sell, at a price that you can profit from, can be a big task. The best suppliers for your online sales or auctions do not advertise their services and often cannot be found online.
Those that you can find online tend to be middle-men. It is often difficult to get a good enough price to make any real profit online.
Let me tell you about my simple 2 step system to find an untapped source for wholesale suppliers. This is so simple that it's often overlooked as a source for product. This system involves thinking outside the box and not letting policy stop you. (continued below)
The First Step to find a supplier is to find someone that already sells or has access to what you want to sell. This could be a website, an eBay seller, a manufacturer, a wholesale outlet, or a regular store in your city. This is the easy step. You know what you are looking for and you can search on the internet, not for a wholesale source, but for anyone already selling what you want to sell.
Another valuable source for a local supplier is your local phone book. The yellow pages are the best way to find local sources. This should be the first place you look. Doing business locally with someone that you can meet face to face is a big plus for your business.
Another potential source for your product is to find a distributor who would be willing to private label a product for you. You could get a very high quality product for a much lower price than if it had the name brand label.
The Second and Key Step is to convince the source you found to become your supplier.
Manufacturers and wholesale sources often have minimum orders that might be beyond your reach if you are just starting out. Online retailers, eBay merchants, and retail stores may be your best bet. Try to find a small store who is looking to expand.
But remember, you are dealing with a human being and they can be convinced to do business with you. Just be sure to sweeten the deal for them. One way is to offer the person you are dealing with at your new found source, a percentage of your profits from the products he supplies you.
Be sure to project it out for him. If he can see the benefit of working with you even though it causes extra work for him, you can be successful in making a deal.
You could offer him 20% of the profit from sales of his products. For example you could show him that you project to make at least $100 profit from each product, and you expect to sell 40 of them per month. The $4000 a month means an extra $800 per month in his pocket. You still make a nice $3200 profit for the month in this example.
On top of that, he will be ordering more products from his supplier and may be eligible for a higher price break from them. This way, his reward for the effort to work with you, is making money on both sides.
There are many benefits you can offer your potential supplier, but no matter how you look at it, the main thing it comes down to is MONEY. What's in it for your potential supplier to do business with you? If can you show him that, you have a better chance of making a deal with him and starting your online sales.
NOTE: When looking for suppliers around your city, don't go trying to impress the big stores with your $800 or even $3,000 extra income per month proposal. Try going to the little stores that are looking to expand their business, they are the ones that are usually more open to new opportunities.
The big stores are making hundreds of thousands of dollars per month in profits, so an extra couple of thousand would probably not impress them the least bit.
So now you see that by thinking outside the box, you open the door to many possibilities and increase your ability to make money online with your products.
About the Author:
Copyright © Melanie Burns
This article is free for reproduction but must be reproducted in its entirety including live links and this copyright statement. Subscribe to the iBusiness How2 Newsletter to receive hot tips, how to's, internet business tools, and relevant product reviews by sending an email to: newsletter@internet-business-how-to.com
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