Business Plan for Artificial Jewellery

Business Plan

Contents
1. Business Idea...............................................................................................................................3
2. You and Why you are starting.....................................................................................................3
3. Market research............................................................................................................................4
3.1 The big Picture.................................................................................................................4
3.2 Competitors......................................................................................................................5
4 Customer research.........................................................................................................................6
4.1 Test Trading......................................................................................................................6
4.2 Evidence of demand.........................................................................................................7
5 Marketing......................................................................................................................................7
5.1 Customer profile...............................................................................................................7
5.2 Route to market................................................................................................................9
5.3 Launch Marketing............................................................................................................9
6 Operations.....................................................................................................................................9
6.1 Premises............................................................................................................................9
6.2 Staff..................................................................................................................................9
6.3 Suppliers and third party................................................................................................10
6.4 Risks...............................................................................................................................10
6.6 Legal and regulatory.......................................................................................................11
7. Next steps.........................................................................................................................11
REFERENCES..............................................................................................................................12

1. Business Idea
In the present world people are very much attracted to ornaments and like wearing
different one on each occasion. Affording a real jewellery is not under the capacities of all and
only a part of total population can manage to maintain variety in real jewellery. The taken
business idea is of artificial jewellery which will be available in different patterns ranging from
stones to Kundan, imitation etc. it has great opportunities in the foreign market as here people do
not get such products and according to the current trend people at global level like wearing
ethnic items occasionally (Vos, 2010). The buyers will be given great option to choose from and
it will be easy to make the purchase. Apart from the offline store there will be an online buying
facility also from where potential buyers can simply surf the variety, compare the price and can
select the most worth option for themselves.
The targeted customer for the products would be females of age limit 22 – 45 years. This
is because they are the one who are active with trends and like experimenting different products.
The business would stand for delivering great quality which is worth of its value.
The philosophy is to treat every client worth and give weightage to what she desires for.
We believe that we should treat everyone with respect and honesty, provide everyone with the
best quality for their money and always do what is right for the client (Nestić and Stefanović,
2015).
(Figure 1: IMITATION JEWELLERY)

2. You and Why you are starting
I am an entrepreneur and recently completed my 2 year course in jewellery designing. My
father is in the same field but working as an employee at a big diamond store. I was inspired to
be in this sector by him only as he always knew that there is great scope of margins in it. he used
to discuss how trading in this products take place and ways through which expansion of same
business can be done using different platforms. He knew what is most demanded by the
customers and what is in trend. Therefore, I choose to start with the artificial products as it
demands comparatively less investment. During my designing course I learned different
software’s to design the ornaments and this will help me at initial stage to make unique items
which can attract customers. Hence with the together efforts of my theoretical and family
practical knowledge there are immense chances of achieving success.
3. Market research
3.1 The big Picture
The business will be operated in London as here people are much fashion conscious and
welcome the new concepts (Sarstedt and Mooi, 2014). The major business will be carried out
though online official site of the brand as this will help in reaching to maximum clients. One
store will be there where orders in bulk would be taken and grievances of the customers will be
met if any.