How to Start Jewellery Business in India

India has always been known for its love for jewellery. When you are attending a wedding or celebrating a festival, the types of jewellery you see will never fail to mesmerise you. This connection that people have with jewellery makes it a profitable and sustainable business idea for many. So, if you are wondering how to start a jewellery business, you are entering into a business that people are always looking forward to.

Without further wait, let's explore how to start a jewellery business in India. 

Why Choose the Jewellery Business in India?

The Indian jewellery market is expected to reach USD 100 billion by the year 2027. This makes it a great business opportunity for people who are interested in jewellery. It can be gold, silver or fashion pieces, the market is open for all. Starting your own jewellery business offers:

• High customer demand around the year
• Strong profit potential
• Scope for niche branding and design
• Both online and offline business models
• Domestic and international expansion

Step-by-Step Guide on How to Start Jewellery Business in India

Starting your jewellery business can be overwhelming. To make it easier, let's break them into several steps:

1. Decide on Your Niche

Your jewellery type is your niche. This type of jewellery choice will guide you on what your focus should be. This way you can understand your target audience, the amount you will need to invest and how you market your brand.

2. Prepare a Business Plan

Think of your business plan as your roadmap. It should include:

• Your business name and branding ideas
• The investment requirements
• Who is your target audience
• Details on the inventory and supplier
• Your marketing and sales strategy
• Planning your future earnings and expenses

It is also a vital document when you apply for business loan.

3. Register Your Business and Obtain Licences

To register your business in India, you will need:

• Business registration
• GST registration
• BIS certification
• Shop and establishment licence

These documents ensure that your business gains customer trust. And it makes your business easier to work with banks and suppliers.

4. Arrange Initial Funding

The funding can be based on your business type and size. You might need an amount between ₹5 lakh and ₹50 lakh or more. If you don’t have ready capital, consider opting for an instant business loan online through My Mudra. These loans can provide:

• Fast approvals
• Minimal paperwork
• Competitive interest rates
• Flexible repayment options

Instead of draining your savings, you can apply for business loan designed around your needs and begin your business confidently.

5. Find Suppliers and Build Inventory

It is an important factor to consider only good suppliers for your business. They can either make or break your business. Always choose vendors who provide quality and timely delivery. So consider this when you’re sourcing jewellery. It’s also a wise choice to maintain a balance between trending designs and evergreen classics in your inventory.

6. Choose a Business Model

Offline stores are an ideal option for you to build trust and give customers a personalised experience. At the same time, online businesses have grown in recent years due to their convenience and broader reach to the audience.

You can also opt for a hybrid option where both online and offline can be combined:

• Launch a boutique and support it with an online store
• Offer virtual try-on and delivery services
• Use social media as a sales and engagement channel
  
  

7. Set Up Your Store or Website

If you are opening a physical store:

• Choose a location with steady customer traffic
• Design a secure and elegant display setup
• Hire trained staff for customer service and billing

If you are going online:

• Create an online website
• Use quality images and detailed product descriptions
• Enable safe online payments
• Set your shipping and return policies simple
  

8. Promote Your Business

Promotion plays a major role in making your brand visible and trustworthy. Start with:

• Social media campaigns
• Collaborations and giveaways
• Create paid advertisements on Google or social platforms
• Rewards for regular customers and holiday discounts
  
  

9. Follow What’s Trending and What’s Required

The trends change frequently. It makes it important for your business to stay updated on what is currently happening. Along with this, always keep your business aligned with legal requirements. It’s important to protect your brand and your customers’ trust.

Why Choose My Mudra?

If you're ready to bring your jewellery business idea to life, My Mudra can help you with easy access to capital. So you can focus on growing your jewellery brand. Through the instant business loan online process, you can get access to competitive interest rates, quick approvals and guidance from a team that understands your goals. With connections to over 90 top banks and NBFCs, My Mudra brings financial support right to your fingertips.

Conclusion

With the right plan, funds and marketing ideas, your jewellery business can grow in today's competitive environment. It is a rewarding business. Whether you start small from home or open a shop in the market, what matters is taking that first confident step.

If you’ve been wondering how to start jewellery business, take the first step today with the expert My Mudra. Through My Mudra, you can apply for business loan. They will support you throughout your business. So with no more delay, apply for the instant business loan online and let My Mudra help you turn your plans into reality.

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