Setting Up a Jewelry Business for the Budget Minded Person----Part 2

Now that you have found a good honest and dependable wholesaler, your ready to buy your stock. You want of course to buy items as low priced as you can get and sell high ( but not too high ). Example, I bought a ring for 4 dollars ( fashion jewelry of course ) I marked it up to 12 dollars which is still a good bargain. On the last day of the sale it didn't sell. That day I marked it down to 1/2 off making it now 6 dollars. Thats getting 4 dollars ( my cost ) back plus a 2 dollar profit and the customer gets it for 1/2 off. This is what you need to take into consideration when pricing your items. Mark it just high enough ( but not too high ) so that on the last day if it doesn't sell you can mark it down to 1/2 price and still make a profit. Of course you don't really have to do this if you don't want to bother with it. But I have found out that the customers fell they are getting a good deal they will come back next time to see what you have. Brings back repeat customers.

It is also a good idea to advertise too. I do this for free.I went to vista print ( can only do this once then have to pay )and got 250 free business cards. Since I sell at the same Flea Market all the time I put this address on there, when it is ( date ),and the time and where I'm located at in the building. I give this to all my customers and would be customers just passing by.

Another thing I do to get repeat customers is I print out blank coupons from the internet. I fill in what I want it to say. Example is: Happy Valentines Day to my Best Customer. Please use this coupon on your next visit for a discount of 10% off 20.00 or more. Thanks for shopping with me. Then I sign my name. This makes it more personal. Always be polite and never fail to thank them even if they don't purchase. Next time they may if your polite.

I also have some cute little Teddy Bear shopping bags I put their purchases in and not just plain old white shopping bags that come from the grocery store. Using these are alright but I prefer to give my customers that little extra something special. Everyone has commented on how cute they are. I have found out that these little touches brings back repeat customers.

If you can afford it you can have a special sale going on where if they buy one they get another item for free. Maybe you have some stock laying around that didn't sale. Put these items in a basket and let them choose a item for free. Another idea is to put these items in a brown paper bag and mark these items as grab bag items with a very low price. But again try to take into consideration what you paid for the items. If they haven't sold in a very long time sell them for cost in the grab bags just to get rid of them.