Thinking of opening a gold shop but not sure where to start? About How much capital is needed to open a gold shop? or the conditions necessary to open a gold shop. How to operate?. Surely these are concerns for those of you who are considering opening a gold store, aren’t they?. If you are wondering about the above questions, check out this article immediately for the answers to those questions!.
Should I open a gold shop?
With a gold business model that has never been in vogue, but not everyone with the money to open it will be as successful as the long-established brands. Because when you trade gold, you depend on many issues.
How much capital is needed to open a gold shop?
To open a gold shop, you need to pay the basic fees as follows:
- Rental of premises: If you already have a room available, this is not discussed, but if you do not have a room, it requires you to rent a room located in the center, densely populated areas, … Above all, the security of the area must be really good. The cost of a store ranges from 45 million VND/month with an area of 50m2 – 55m2.
- Money for gold products: When opening a shop, you must have basic items including: Rings, earrings, bracelets, necklaces, … and other jewelry such as: Gold bars, gold trees, precious stones, … . The price fluctuates for each import from around 800 million to 1 billion. Not to mention when the price of gold went up or there was an unexpected difference.
- Equipment decoration: For jewelry, the investment in cabinets is very important. The cost for one cabinet ranges from 12 to 15 million VND, not including camera systems, electric lights, signs, etc. Depending on cabinet size. store.
- Other expenses: such as staff money, taxes, other expenses.
Requirements for opening a gold shop
Terms of operation of a gold store
- When trading, the business registration certificate in business when buying and selling gold is a must.
- Facilities and equipment for trading with quality equipment meets the requirements of gold trading.
- Complete certificate to ensure the production of jewelry, gold and silver by the competent authorities.
- When involved in direct production for sale, you must register the production of jewelry and fine art with the authorities.
The experience of opening a successful gold shop
- Choose a suitable trading location: Generally, people who have good hands or good feng shui will make us develop smoothly. In addition, security in the area ensures good security, close to the authorities. The surface is easy to see, easy to see. Crowded traffic. The economic demand for development in this region is high.
- Have a business idea: In addition to importing goods, designing your own exclusive jewelry is also a perfect choice, but requires you to grasp the psychological needs of customers and market trends to avoid deadlock situations. This is the current trend.
- Brand building: The most important thing in business is the brand, because the brand affects the service, the product, but high-value products require you to have a reputable brand and good service. .
- Quality products and reasonable prices: You need to ensure that your brand has a wide range of quality products and catches the trend of the hottest products. Don’t display old and obsolete products, it will reduce your sales as well as your brand.
- Marketing/Advertising: With the current era of the development of digital technology, online shopping and the development of ultra-high technology, marketing coverage is essential for development.
Besides marketing development, you can refer to Digi Viet. This is where, professionally and efficiently, Digiviet also has development assistance services. With a team of experienced designers working together for quality, you can be assured of cooperation.
Digi Viet has helped thousands of customers with efficient operations, rapid sales growth and increased brand awareness. At the same time, the experts also offer many solutions to optimize resources, thus simplifying commercial management.
In short, if you open a small-scale gold store, it will fluctuate around 3-4 billion VND. Excluding rotation costs and additional costs. Because opening a gold shop with high profits requires a long process to be able to recover capital as well as make profit. Hope this article will help you more on whether to open a gold shop or not? Good luck !.