Jewelry business is one of the most lucrative businesses right now, yes! I can make that bold statement because my kid Sister whom I mentored on how to run effective Facebook ads is doing so well in the business right now. She started the business from home when we lived together, but now she has a shop in her name.
Women always want to look good, especially when they are going out for events. So they’d most times want to get new set of jewelry to look different. Sometimes, they want something that matches their hand bag or clothes; they always want to be noticed.
Buying jewelry is however not limited to only Women. Men also buy jewelries! There are different types of jewelries that you can start selling now to make a lot of money. They are;
1. Wedding and Engagement Rings (Gold Plated)
5. Bead Jewelry
6. Gold/Silver Plated Wristwatches
7. Leg Chains
So those are the different types of jewelries I can think of right now, there might be more. I’d take my time to do a breakdown of each of them and then you decide on which ones to focus on to make money. If you are consistent in your marketing, You will make 6 figures or maybe even 7 figures every month.
Every Saturday, a lot of people get married. A lot of people also get engaged every week, so you have an opportunity to make a lot of money from selling wedding/engagement rings. These rings are of different categories [materials and prices].
You need to understand who your target audience is. Are they people who want to buy very expensive diamond rings or are they people who want to buy high quality both low cost sterling rings? When you know your target audience then it’s easy to focus and give them the products that suit them.
For example, you can’t try to sell rings of 25k to elites, they won’t buy. But when you promote the rings of N1,000,000 and above, they’d buy from you.