If you reside in Canada and married, you’ve got to have a diamond engagement ring. That’s the fact. Canada is the country with highest number of people who have diamond engagement ring. It accounts to 85% which is quite amazing. Moreover, the jewelry industry has always been on a rise. According to the data of 2008, jewelry industry in Canada consistently hit or went beyond expected growth rate for previous three years. And majority of jewelry purchasers were females aged between 20 and 50.
Canadian jewelry market is divided into two retail categories;
- Fine jewelry; that has gems and metals
- Costume jewelry.
Market data says that costume jewelry has always been on top priority for Canadians. Over the years, costume jewelry has become an inexpensive alternative to fine jewelry for the fashion conscious. Costume jewelry continues to change with the current season’s trends with materials such as base metals, leather, feathers, glass beads, gems and pearls. Costume jewelry is great because it reflects current trends, styles, materials and colors, with intent to be fashionable for a very short period of time. Best of all, it appeals to all age groups and incomes.
This is probably the reason why jewelry stores Canada are in big numbers. You can get custom made design jewelry in Toronto. In fact, Toronto accounts for more than 30% of the amount consumed on Jewelry purchase. There are some popular names in this industry, and one of them is Orosergio, probably the best custom jeweler Toronto.
So, if you’re looking to setup a jewelry business, you have plenty of things to do. While opportunities are there, but plenty of competitors are there too.
Design a Business Plan
It is probably the first thing to do for almost any type of business. A business plan can do wonders. There are several software and online business planning websites these days so it is not too difficult a job. It will also help you with better sales techniques and innovations you should bring about in your business when it starts running smoothly.
Go Online
These days, there are several jewellery selling websites like custom jeweller Toronto which are flourishing because they provide ease to the customers. You should contact them for the initial phase of your business and once your business starts running, you can set yourself a store or a showroom if you like.
Maintain Material Supply
Using the best quality material and the most updated equipment for making jewellery is quite instrumental in producing the highest quality of jewellery products. Make sure you keep account of the exact number of beads and stones that you order. Tools such as tweezers, pliers zip bags and wires may not seem too costly but if not kept an account of, they can be appear to be quite costly.
Conclusion
One more word of advice is that think of what you would have liked to buy from a jewellery shop. Keep in mind the quality and you will be able to produce the same for your customers.