Bangles have always been traditional jewellery for women. Nowadays, bangles have grown into an aesthetic way of representing fashion. Bangles now play an important role in the makeup items of a woman, whether they are wearing them on a wedding day, festivals, social gatherings, etc. Therefore, the demand for these bangles is always high, and they will not decline in any coming age. However, the bangles have grown into different varieties of materials. For example, the bangles are available in the quality of glasses, shells, clay, synthetic plastic, rubber, gold and even wood. Even the bangles are available in the expensive range, where rare diamonds are embedded into these bangles to make them look elegant and luxurious. Therefore, starting a bangle business is smart in areas where women are too invested in bangles.
Did you know?
Firozabad in Uttar Pradesh Is well known throughout India for its glass bangle industry.
Steps to Follow When Starting a Bangle Business
Business Planning
To start up a bangle business. It is required to have a layout of the plan considering several basic aspects of starting of business. These are some of the basic things that need to be pointed out and considered while setting up a bangle store. The thing that I need to be considered are:
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Deciding the Product
Bangles are now available in various materials. Therefore, deciding the material quality, which the particular store will carry is quite necessary. However, if the bangle business is going to be on a large-scale level, then there is a need to stock up the store with numerous varieties of bangles.
Location
The growth of a new start-up business depends upon the store's location. Therefore, deciding the store's location in the city is necessary before starting up the business. The thing that is needed to consider in a bangle business is the target customers, including the enthusiastic women active in the fashion style.
Expenses
Expenses are the basic expenditure that will come over the setting up after bangle store. After deciding the location, the thing that follows this plan is buying or renting that area. The most beneficial way to spend the money on the setting up of store is to rent a commercial space.
Bangle Making Machine
The bangle-making machine is necessary to help scale production if your business is met with increased demand. It will help you in providing the customers with their desired bangles
Attracting Customers
After setting up a business, the first crucial thing is to attract customers. The first impression of the business is the appearance of the store. Therefore, attracting customers begins from the display of the shop. The basic points that are needed to remember while structuring the infrastructure of the store are:
Layout
The first thing to look out for is the layout of the bangle store. The layout must be designed so that the customer has an easy path to enter and exit the store. The counter and reception area must be designed to make the store look comfortable and not congested. Do not forget to consider the space for storing the stocks.
Designing
Once the layout is sketched for the store, it is quite necessary to put a light on the decor. The decoration adds to the store's quality and attracts more and more customers. The decoration must be light and aesthetically to make it look elegant and easy on the eyes.
Lighting
The bangle store must have a proper lighting system and ventilation. It must not feel suffocating or overbright, which might affect the viability, causing discomfort. Otherwise, it will prove negative feedback. The lighting should be proper so that the true colour of the bangles is visible.
Display
The store's display area must be figured out so that most of the luxurious, expensive, and the best quality bangles are put up on the show to attract the customers. Moreover, the display must not be open enough that it might cause a robbery scenario.
Making Profits
The profit on bangle business depends upon the quality, variety, and customer feedback. Therefore, it is quite necessary to provide the customer with a different variety of bangles that they desire. Some of the necessities that need to exist in the store are.
Variety
Bangles are made up of several varieties with enhancement in the fashion industry. To earn extra profit, the bangle store must have all the materials of the bangles, i.e., glass, wood, plastic, rubber, etc.
On-Demand Bangles
This fashion world is frequently changing these days. The on-demand bangles are the production of the bangle on the customers' requirements and desires.
Funding and Licencing
One of the most important steps in starting up a business is investment. Most of the investment of any business goes to the equipment required in the store. In a bangle business, most of the investment includes the commercial space, decoration, bangle-making machine, etc. Therefore, collecting the fund for the investment is quite necessary, for which one can opt for a loan from the bank. Otherwise, if someone has a trustworthy individual who can borrow the investment amount, it will be quite beneficial.
This investing and funding requires some legal aspects. A business is full of risks, hurdles and challenges where legal support is quite necessary to run the business seamlessly without any hassle. Some of the certifications required while setting up a bangle business are the business licence, PAN card, land permit, certificate of occupancy, insurance, etc. Without this legal documentation, there might be several issues that may act as a hurdle in the path of the business.
Spread the Business
Any business must not stay confined to a smaller area. The expansion of the business is quite necessary to grow and thrive in this competitive market. One of the basic methods to spread the business globally is online selling. Online customers worldwide might be interested in buying the product; therefore, having the business up on the internet is quite beneficial. It is necessary to have an online website store to sell the bangles online. The website should be flexible, easy to use, convenient, etc. The online website must provide all of the services provided in the offline retail stores to maintain the constant customer rate throughout.
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Marketing and Promotion
Marketing and promotion are the trickiest things that might boost or decline the business. Marketing is a thing that can provide positive and negative feedback towards the customers. However, social media is increasing with a great place in this modern world. Therefore, social media like Facebook, Instagram, WhatsApp, etc., might be used as the best platform for promoting and marketing the store. The bangle store must provide all the services shown as an advertisement over these promotions.
Conclusion
Bangles are one of the most grasping jewellery pieces by women in this fashion industry. The bangles had become an element of necessity with almost all dresses. Therefore, setting up a bangle business might prove beneficial. However, several considerations must be kept in mind while setting up the store, including the planning, layout of the store, designing, marketing and promotion, and having the proper legal documentation to safeguard the store's authenticity and liability. Moreover, providing different varieties of bangles and an on-demand bangles production service might add to the store's quality.
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