What are the financial costs involved in starting a jewelry store? A relatively small jewelry store can usually be started for as low as $20,000. But depending on your geographic area, it may cost more than that to get things going. A standard breakdown of costs may seem like this:Checkout Windsor Fine Jewelers, Augusta for more info.
Rent: $0 (you can typically get by with just your signature and a phone line) upfront: this will cover the basic utilities like phone lines, internet connection and so on. However, in some cases, including in larger cities, certain precious metals may require special licenses such as getting a vendor’s license. If necessary, you should look into getting pre-licensing certificates from your local jewelers association. Payable to the local government, these fees can vary greatly depending on where you live. Licenses are also frequently revoked or suspended, so make sure you always have current documentation before you open a jewelry store.
Equipment: Depending on the nature of your merchandise, you will need to rent or buy your own inventory. You may decide to go with an all-in-one shop and rent several of the major pieces needed to operate a jewelry store. Or you could set up a rental rack, or buy some used equipment to begin with. Other equipment to consider buying would be a merchant account, which would allow you to accept credit cards and pay your suppliers. To be safe, you should always check with the Better Business Bureau before buying anything, since fraud is one of the top concerns of today’s jewelry business.
CONTACT INFO :
Windsor Fine Jewelers
2635 Washington Rd, Augusta, GA 30904
Phone No. :706-738-7777