Jewellery is a luxury item, but many of us in the UK consider jewellery an essential accessory.
Growing jewellery sales are responsible for making the sector one of the fastest-growing divisions within the luxury-goods industry.
Globally, the jewellery market has grown exponentially over the past decade: projected to grow by a further 8.1% by the middle of the 2020s - reaching $480.5 billion. There are very few sectors that equal that type of growth - especially when other areas of business are in decline.
Jewellery franchises offer entry, therefore, into a hugely lucrative marketplace. Whether you hope to specialise in designer watches, costume jewellery, antique pieces, or cutting-edge high-fashion styles, there’s a jewellery franchise that can help boost your impact on the high street or online.
There also incredibly fun and for many, they offer a way to match a passion with a career. Jewellery and fashion is much more than a profession for some of us and if that sounds like you, then perhaps a jewellery franchise could be the answer.
Jewellery franchises operate through physical units in high street shops and department stores, as well as becoming a growing presence online. Consumers are increasingly finding confidence in making high-ticket purchases online: online sales in jewellery doubled during 2019. This is trend that is likely to increase going forward, as more and more of our lives become online-first.
Jewellery isn't just for the rich and famous, of course. The trend for multiple piercings has expanded demand for low- and mid-priced items; with some jewellery franchises specialising in piercing and tattoos, as well as the decorative pieces used to fill those new holes. It really is a business that has a little something for everyone.
There is an entry point at all levels within this industry. Franchises offer the potential for those with an interest to join a group that has already found their market within landscape. Whether you are more inclined to go down the luxury end, or if you are more accustomed to budget sales, there is a business and franchise to suit you.
From high-street chains to high-end units, jewellery is an accessory for everyone, offering great potential for expansion and growth. It is also an industry that has been around forever, with fashions changing, but the desire to look good while wearing jewellery never going away.
From weddings to everyday wear, it is part of who we are and this business could be your next calling.
Franchising
Franchising offers people the chance to join a business that has done it all before. Not only that, but it also allows for entrepreneurs to get their bit of a business that has already carved out a reputation.
It can hold advantages at every step of starting the business, with some financial institutions looking more favourably upon businesses they have heard of before. It also allows for new business owners to feel less daunted by the big move they are making. After all, if others have done it, why can’t they.
In terms of the jewellery industry, it helps newcomers create an immediate impact on the high street or online immediately. They inherit instantly recognisable brand when they invest in a franchise, helping their new business stand out from your competitors.
The jewellery franchise sector is built on trust - your customers require reassurance that your customer service and aftercare is going to meet their expectations. When a member of the public buys from a franchise, they have the reassurance of a brand with a reputation for service and care.
Jewellery franchises often offer full training and on-going support, especially if your brand creates its own jewellery styles. You’ll benefit from a ready-to-go business infrastructure with all the complicated business regulations in place, helping you hit the ground running with your new venture.
Facts About Jewellery Franchises
Over the years, how we buy our jewellery has changed, especially with the proliferation of social media. Instagram, for example, has become an exclusive shop window for jewellery start-ups, using the platform to reach international audiences while developing greater brand exposure and building client trust.
While online is a growing environment for jewellery franchises, many Millennials purchase their jewellery from physical stores, citing excellent customer service and trust as more important metrics than price.
Necklaces remain the most popular item of jewellery; closely followed by earrings. Bracelets and finger rings also maintain their popularity - with a vast market in celebration purchases.
There's a sizeable female market for jewellery franchises, but the men's jewellery sector is on the rise. Traditionally, men's jewellery of choice was confined to a watch and a wedding ring, but today's Hipster male has a taste for more elaborate pieces; with a preference for bracelets, necklaces, and earrings/noserings.
The UK's jewellery fashion is continually evolving. In 2019, the statement earring was a top performer, while gold and diamonds continue to dominate the luxury end of the market. However, the modern consumer is keen to purchase ethical jewels; steering clear of "Conflict Diamonds" and paying close attention to the ethical and sustainable sourcing of materials and labour.
Franchising Vs Independent
Moneylenders tend to favour franchises because they're businesses built on robust foundations.
Franchise businesses come with a proven business model and a well-established customer niche. Additionally - and probably most importantly - franchise businesses have been proven sustainable and profitable with an infrastructure that has stood the test of time.
Getting started in business is a notoriously risky pursuit - especially if you're entering an established and saturated marketplace. It can take many years to establish a new brand; during which time you're often lucky if you break even.
Franchising, on the other hand, comes with an established reputation and recognisable branding to increase the curb appeal of your new unit or website.
Jewellery Franchises
Explore our range of fabulous jewellery franchises, and get started with your dream of self-employment today!
We have some wonderful options to suit all tastes and budgets.
Find your brand new start with Franchise Direct.