I was talking to you the other day about getting into jewelry sales, with some ways to know the constraints. In those options, I wasn’t really talking about opening a jewelry store, so I’ll break that down for you now.
Are you passionate about the world of jewelry? You never miss any edition of the Bijorhca lounge ? Would you like to turn your passion into a real profession? Why not go for it once and for all and bring your idea to fruition? Take the plunge to open a jewelry store.
You should know that the purchase of jewelry remains above all a pleasure purchase, often spontaneous, and motivated by many events during the year (wedding gift, birthday, baptism, communion, engagement, marriage, etc.).
The opening of a jewelry store remains very relevant in 2018 for those looking to undertake in a promising niche. Find out about the steps and the necessary knowledge before you start. Follow our tips for opening your own jewelry store.
Is a diploma necessary to open a jewelry store?
The profession of jeweler is not regulated and it can be practiced without a diploma. Opening a jewelry store covers two realities:
- an activity of buying and reselling jewelry that you carry out as a specialized trader. You do not make any transformation or creation.
- a jewelry design activity that involves the sale of jewelry in your jewelry store. In this case, you exercise a craft activity, unless you have more than 10 employees.
Building a business plan, an essential step
You must establish a business plan, in order to verify the viability of your project. This reference document is essential to obtain financing from investors.
A market study will guide you in choosing a commercial location corresponding to a potential clientele interested in the jewelry you will sell. To attract this clientele, you can diversify the activity of your jewelry store by offering the repair and repurchase of jewelry, and ear piercing. All of these options can obviously improve the visibility of your jewelry store.
The choice of the legal status of your jewelry store
To create your jewelry store and give it legal existence, the choice of a legal form is essential. Study the different possibilities and choose the one that is most suitable for your project. The status of auto-entrepreneur allows you, for example, to start your activity very quickly and at a lower cost, by benefiting from a simplified tax and social system.
To limit the risks incurred and protect your assets without being limited by a turnover threshold, the creation of a company is necessary. If you embark on the project on your own, two legal structures can be set up, a SASU or a EURL. If you have associates, consider an SAS or LLC.
The regulations in force for the jeweler’s activity
To open a jewelry store, you have to take the usual steps to create a craft or commercial activity. As a holder of precious metals, a Declaration of existence is carried out at a guarantee office. You must keep a register or ” police book »Detailing your purchases, sales, receipts and deliveries of these metals. Specific activities such as ear piercing are subject to specific regulations.
The opening of a franchise jewelry store
Have you thought about creating your franchise jewelry ? Find out about the brands that are developing before signing a franchise contract (see the previous link of the Franchise Observatory).
The first step will be to meet with the franchisor of the selected jewelry concept. The latter will then give you the DIP, which is mandatory before any contract is signed. In March, the Franchise Expo Paris fair is held every year, where a large number of brands are present.
Franchise jewelry, what advantages or disadvantages?
Opening a franchised jewelry store offers many advantages. For example, you benefit from the reputation of the franchisor, I suspect that you already know a lot of franchisor brands (Agatha, Cléor, Pandora, Julien d’Orcel, Swarovski, etc.)and a support to create your jewelry store. However, you are not really independent in the choice of the products offered for sale. If you are a jewelry designer, you will not be able to sell your creations.
Want to know more about the DIP, the franchise contract, or the steps to open a franchise? Go to the Franchise Observatory.