jewelry shop: magandang biznis?

[diwata28]

ok bang business ang jewelry shop sa province? what are the rules and regulations in running this business?how much should be the capital?

tnx

[mac_bolan00]

i once made a study on the meycauyan jewelry industry.

we'll limit our discussion to "fine" jewelry meaning those who use only gold and silver and precious stones.

asumming a manual operation, you need the following:

tools, molds - P 20,000 minimum

at least two skilled jewellers (either minimum wage or "pakyaw" system)

at least one marketing person and one part- to full-time designer.

registration? in meycauayan, less than 200 of the estimated 1,800 jewellers, traders, platerias, leather works are registered.

minimum output? one good jeweller should be able to "convert" at least 1/4 kg of pure gold into fine jewelry (rings, pendants, stone mountings). every month.

the biggest operation in meycauayan has 130 workers and they convert less than 2 kg gold/mo. their disclosed annual sales is P 100 million. rather low.

the really strong jewellers are those in metro manila. they invest in full-time designers (as many as 3), marketing "scouts" in the US and europe which is their export market, and they invest in as much as P 50,000,000 in modern equipment. bravo international is the biggest. they can convert as musch as 7 kilos of pure gold every month.

[KuyaDanny]

diwata28, are you going to make jewelry or sell jewelry you have sourced from other people?

Because if you are going to sell jewelry, I think having a shop only raises your profile and elevates the risk of holdups and burglaries. A good way to start might be to sell jewelry the way a lot of jewelry is sold in this country - by individual "alajeras" who visit buyers at home or at work and actually show the pieces. The overhead is lower.

You might have to invest some money in financing your sales, though. A lot of jewelry is paid for in "gives", aka hulugan.