A jewelry workshop franchise is a rather specific activity. It can be associated with certain risks, for example, with the threat of attack and theft of valuables. A jewelry franchise must be handled competently and in compliance with all prescribed legal regulations. This helps to keep yourself safe and sleep soundly. Open a jewelry franchise only after mature thought, and after all the necessary analytical steps have been taken. For example, you need to first execute a swot analysis that allows determining your strengths and weaknesses.
In addition, such a tool makes it possible to understand what risks you may meet on the way of implementing a franchise, as well as what opportunities you get to resist the intrigues of your rivals. When implementing a jewelry franchise, you must also remember that you have undertaken certain obligations to deduct contributions to the franchisor. The first is a lump-sum payment. It is from 9 to 11% of the number of cash resources you intend to spend at the launch stage. A jewelry franchise, like any other type of business, requires a corporate identity. You will be provided with up-to-date dress codes and examples of how to decorate the interior. This is very important to consider when starting any bijouterie franchise.
After all, this is why you interact with the franchisor, deducting a certain percentage of the income to him to use his chips. Chips are not only about working on behalf of the brand and corporate design, courteous treatment of customers and other formalities must be observed in accordance with the regulations. When working with jewelry, you also need to remember that throughout your entire activity, you monthly deduct a certain amount of financial resources. This amount is calculated as a percentage of the turnover or profit that you managed to get during the month. Operating with such a franchise is a business project, in which you need to remember that you are an official distributor. Hence, you should not make mistakes and you need to remember a so-called mystery shopper may come at any time. This is a person who, on behalf of brand representatives, secretly comes to you and begins to use services or purchase goods.
You need to serve each of your customers in your jewelry store in a way that makes them happy. Eventually, one of them may be a secret buyer who tells the franchisor everything.