HOW TO RAISE CAPITAL FOR YOUR JEWELRY BUSINESS

A few years ago when I sold wristwatches, there was a lady who could not afford to buy in wholesale.

I could see the zeal to start up something and I advised her to take pictures from me, post on her BBM profile, on Facebook groups and inform me when she got any orders.

We did this for a while and she made 500naira from each wristwatch she sold.

She was able to save enough to buy in wholesale eventually.

This, she did without much risk; all that was required was her marketing skills, data and the time she committed to convincing people to buy.

She didn’t have to worry about the packaging because I took care of that.

I did the delivery on her behalf as well. I only had to send in bulk to her location on specific days when she got orders.

She only sought for customers and then sent them my way in exchange for a commission.

You may also want to start your own jewelry business but are not able to raise enough funds for now.

Here are 2 ways you can start:

  1. DROPSHIPPING: search for trusted brands or sellers that you can get pictures from, post on your social media handles, advertise to your family and friends, pay the seller and take your profit from it.

Ensure that the seller is trustworthy and will deliver as promised.

You may also agree with the seller to send the items with your brand name (if you have one). This means the seller will not add their packaging or contact.

  1. JOIN REFERRAL PROGRAMS

Referrals are another good way to make money. Many companies do this.

Search for online sellers who have this method of rewarding customers or their audience.

Approach them with your intention. There will definitely be people in your circle who wear jewelry, tell them about that brand/online store, show them testimonials/customer feedbacks to convince them to buy.

The more people you refer who buy, the more you earn.

Leave a Comment

Your email address will not be published. Required fields are marked *

Need Help? Chat with us