A large industry that generates over $30 billion combined annual revenue, businesses that sell jewelry comprise of both large department stores such as Wal-Mart and small, specialty businesses that may focus on watches or gold and diamond pieces – rings, bracelets, pins and necklaces. Because of the large financial investment that can take place with many pieces of jewelry, many franchises such as FAST-FIX, which is found on the VR Franchise Showcase, offer both jewelry and watch repair services.
Owning a jewelry franchise puts you at an advantage over large companies and small businesses in your marketplace because you’re buying an already-proven successful blueprint to operate and generate a profit. Through buying a jewelry franchise, you will learn all the aspects of the business from the franchisor at the corporate headquarters prior to opening up your location.
Jewelry franchisors provide franchise owners with:
Advertising and marketing on a local, regional and national level;
Assist with site selection;
Offer continued support following the grand opening.
These are all things that you would not have if you tried to start your own jewelry business from the ground up. Additionally, owning a jewelry franchise will also put you in touch with vendors for inventory, since most franchisors have existing relationships with them.