You can't run a jewelry business without jewelry right?

We're going to talk about how to maximize your profits and the importance of keeping a stocked jewelry inventory.

 

 

 

 

 

 

 

 

The first thing you want to do is order more jewelry right when you start. Especially if you bought the $99 kit. You will sell out of your pieces from your kit fast and you don't want to be stuck waiting for another shipment. That's not good. If you're waiting on a shipment then you're not making money and your business is at a stand still and we don't want to be standing still, we want to hit the ground running right from the start. This is the number one thing that people say they would have done differently from the beginning...either start with a larger kit or place an order for extra jewelry right away. 

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Once you get your jewelry in the mail make sure you inspect each piece for broken items or damage. This does occur occasionally and you can either write off your damaged/broken pieces OR call customer service to have them replaced or credited.

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FLIP YOUR KIT

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Once you start selling your jewelry you MUST reinvest in your business. Reinvesting is not an option. It is the key to making sure that your business is successful.

If you sell 10 pieces of jewelry you need to be at least replacing those 10 pieces. The smarter option is to replace those 10 pieces and add more. Now, initially this is going to lower your profits but in the long run you will have built up your inventory and you will eventually have a large selection for your customers to shop from.

The more jewelry you have, the more you will sell!!!

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Here are some smart tips on buying your jewelry so that you are maximizing your profits and saving yourself money.

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1. Buy in increments of 10 pieces. For every 10 pieces of jewelry you buy you get 1 piece of jewelry for free. This will be labeled as a hostess reward and it is picked for you randomly by Paparazzi.

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2. Buy each individual piece in multiples. If you can...when you are picking out your pieces, buy them in multiple quantities. It's very likely that more than one of your customers will want the same piece. You'll keep customers coming back when you can meet their demand for the same piece of jewelry.

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3. Buy at least $100 in jewelry per order...if you can. When your order total before taxes is at least $100 then you get free shipping! 

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4. Keep those orders coming. Again, we do not want to run out of jewelry.

Could you imagine if McDonald's ran out of hamburgers? In order to always have new items available for your customers and to keep from running out you will want to place an order at least once or twice a week so that you consistently have boxes coming in the mail.

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5. New jewelry releases come out every day, Monday through Friday, usually in the afternoon or evening depending on what time zone you're in. Keep your eye out for the hottest styles and order as soon as they come out. The good stuff will go really quick...sometimes within minutes, so you must order quickly!

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Here is a video on some inventory buying tips.

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