Boutique Owner MULTIPLIES Income with Permanent Jewelry
Are you interested in learning about permanent jewelry and how it can benefit your business? Just take a look at Ashley, owner of a successful online boutique turned brick-and-mortar store with permanent jewelry services. She's been able to generate an additional $3-4k of revenue for her boutique by offering permanent jewelry in-store, and she plans to expand the business by allowing her staff to offer their services at parties and events.
But running a business is not always easy, and Ashley admits that there are days where she wants to give up. Her advice for others is to set attainable goals and celebrate milestones. One strategy she used when starting out was to book another party before leaving an event, which helped her to grow her business and is something she continues to do to this day.
Ashley believes that incentivizing is important, and she has a direct sales background that has helped her in this regard. She suggests offering some kind of credit to the host of a party, such as 10% off or a free item for every certain number of items sold. This encourages the host to invite more people to the party and helps build a sense of community around the brand.
She also recommends giving the host a few specific dates to choose from when scheduling the party, rather than leaving it open-ended. This creates a sense of urgency and exclusivity, making the host feel like they have to act quickly to secure a spot.
Ashley stresses the importance of being a walking advertisement for one's business by wearing the products and accessories in public. This not only attracts attention to the brand but also allows the customers to see how the items can be styled and paired together. She recommends wearing a variety of items and styles to showcase the range of products available and generate interest in the brand.
Ashley continues to discuss her plans for her business. She mentions that she recently started using Calendly, which is on her website, to book appointments for permanent jewelry services. The person in charge of the shipping department also does permanent jewelry, so she needs to have appointments booked to know when to take a break from shipping. The speaker plans to run ads offering permanent jewelry services and wants to be able to book appointments throughout the week. She hopes to train one or two more employees on permanent jewelry so that it's not just all on one person.
Currently, her employees are either salaried or hourly, but she plans to start offering them some type of commission structure to empower them to make additional money. She wants to work out the details of the commission structure, so her employees can make money by going out and doing permanent jewelry parties.
She found the training course for permanent jewelry to be helpful for her employee. She likes that the course is accessible and that they can review the material whenever they need to. She thinks that the training course is really beneficial.
Ashley believes that there is enough success in the world for anyone who is willing to work for it. She is not in competition with other boutiques in the area and is open to collaborating with them. She thinks that people like to see a community over competition and that it's not a negative thing if there are other permanent jewelry businesses in the area.
Ashley thinks that the trend of permanent jewelry is just beginning, and it's the right time to get into the business. She understands that starting a business is an investment and that it takes money to make money.
She emphasizes the importance of being cautious about where one puts their time and ensuring that they have the right people in place. If one is spread too thin, everything can get messy. However, if there's something you want to add on, ensure you have somebody in place who can learn how to do it well. The speaker learned how to do permanent jewelry,
In the world of fashion and accessories, permanent jewelry is a hot trend that not many places offer. However, Ashley has found that offering permanent jewelry has brought in new customers and added another stream of revenue to her business.
By diversifying her business and offering multiple income streams, Ashley has been able to weather the economic challenges of the current climate. Permanent jewelry, with its fantastic markup, has proven to be a great opportunity to bring people into the boutique to see the clothing and have an additional stream of revenue.
The profitability of permanent jewelry can vary depending on the material used, but the markup can be between 6 to 10 times what was paid for it. Ashley advises breaking down the cost of the chain per inch to determine how much it can be sold for and whether to charge per inch or have a flat rate for the bracelet.
While making a piece of permanent jewelry can take around 15-20 minutes, Ashley emphasizes the importance of getting the chain cut perfectly to avoid customer complaints. Offering a wide variety of chains and charms for customers to choose from can also increase the profitability of the business.
Ashley's success with permanent jewelry has led her to start offering parties in her boutique where customers can do clothing and permanent jewelry. Hosts of the party can receive credit toward a free piece of permanent jewelry or towards clothing. This has proven to be a great way to attract new customers who are interested in the latest trends.
In fact, during her boutique's grand opening, Ashley made around $2,300 just from permanent jewelry sales alone. For anyone interested in starting a business in permanent jewelry, Ashley advises having a "just do it" mindset and being prepared to hit the ground running.
Offering permanent jewelry is a great add-on service for any boutique looking to diversify and increase revenue streams. By offering a wide variety of chains and charms and being mindful of the costs and pricing, businesses can tap into this lucrative market and attract new customers. And with the holiday season coming up, permanent jewelry makes for a great gift opportunity, making it an even more attractive business proposition.