Franchise Information, advice and news.

All that glitters may not be gold, but it will probably set you back a fair sum nonetheless.

Jewellery comes in an almost inexhaustible range of styles and designs, with items ranging from thick gold chains for men to tiny droplets of diamond attached to tiaras or clothes. And the use, or significance, of jewellery has not differed much over thousands of years. Millions of various types of items are used as currency, for functional reasons such as a clasp or buckle, for fashion in order to show status or membership, with the 'bling' generation at the forefront, and as an artistic display.

From gold to silver and plastic to diamonds, almost any kind of precious material, or one created to look precious, is used in the production of jewellery. And there are an unimaginable plethora of pieces available, from watches and rings to bracelets, body piercings and cufflinks, meaning jewellers and jewellery stores often specialise in a certain area.

Most modern jewellery stores will focus on their chosen market's tastes, with the more upmarket jewellers stocking more diamond, platinum and gold items such as rings, necklaces and watches, while the middle and lower end of the scale might stock cheaper materials such as plastic and items such as bangles and piercing jewellery. However, there are certain products which cover all ranges and it is only the material and craftsmanship which distinguishes the price and exclusivity of the piece.

But aside from simply selling jewellery to customers most jewellers also run a metal-smithing service, watch repair and other maintenance issues related to items of jewellery, providing a service to consumers and retaining their custom.

Smithing is an art, meaning trained professionals are able to command large fees for their work. However, anybody interested in getting involved in the jewellery market can easily side-step this area by outsourcing a professional and getting down to the business of selling jewellery.

Jewellery store franchises are a popular way of getting into the sector, although the average set-up fee is at the high-end of the scale. Costing anything up to $750,000 and more, a franchise in the jewellery industry can still be a lucrative business.

Customers at stores which are able to keep up with the latest trends, such as those supplied by nationwide franchises, are likely to increase profits significantly thanks to return sales - and although figures tend to spike around special occasions, the trade is a year-round money-spinner.

People researching jewellery store franchises are encouraged to assess their financial situation and make sure they have at least a working knowledge of the industry before committing to it - with those with a vested interest in fashion may find it an ideal sector. However, without strong business acumen, good marketing skills, the correct customer base, relevant stock, an outstanding location and excellent customer service skills, the entrepreneur could find themselves out of depth and out of pocket in this highly competitive market.

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