Jewelry is the best type of product to sell online. It has one of the highest profit margins in all of retail. Most jewelry items do not have UPC codes or model numbers so it is difficult for people to compare prices. Plus, jewelry buyers are not exactly bargain hunters anyway. Established brands can get away with obscene markups. Because jewelry has a learning curve, people still rely on jewelers for advice and guidance as well. This means stable profits in this industry now and well into the future. In my opinion, jewelry is the best retail business to be in, but it also has one of the highest barriers of entry. I’m going to dispel the myths and show a clear path to starting a jewelry business quickly.
I started my business as a high school kid working from my bedroom. I have since generated millions of dollars in sales.
My name is Danny Tsang. I now own four jewelry brands with online-only sales. I also have an appointment-only showroom in San Francisco selling higher ticket items to my private jeweler clientele. I run my business primarily from home, with an average of 1-2 hours a day on routine operations. Below is a screen shot of the website back-end for just 1 of my 4 brands.
As my business grew, I began to outsource and remove myself from the daily operations so I can focus on other ventures and spend time with loved ones. In 2015, I launched a new company that helps other people start businesses of their own. Later that year, I authored a book (sold in all major book stores) and started a blog called Seven Figure Life.
On the blog and in my book, I wrote about starting online businesses. Having launched over a dozen online ventures, I have experience and knowledge in various industries, but naturally jewelry is my specialty. Because of that, readers began to ask me how to get into the jewelry business specifically. Thus, this website was born with a mission to help a small group of motivated entrepreneurs start a jewelry business from someone who has done it.