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How do jewelry businesses or any other store Make Profit?
Lets say a little store in a weeks time has
2 people working throughout the whole week. ($700)
Electricty/Rent might be in contract on a monthly basis ($1300)
Than they have to buy the product and lets say the products go for around 100 a peice on average subtract the initial cost of the product...Plus there is always the winter seasons where tourists arent around. How do the store ever Profit and if they do is it alot? If you have a spreadsheet or any example I would be intrested to see.
5 Answers
- 1 decade agoFavorite Answer
The markup on jewelery is about 250%. They do not have to move a lot of product to stay profitable.
- Anonymous1 decade ago
Free online Book on small business... Go It Alone.. find it at New Free Books
Source(s): http://newfreebooks.com/ - lauraLv 41 decade ago
well....usually the mark up is huge to begin with on products however as you know a HUGE percentage of businessess fail within the first 6 months..(not to discourage you) most of these companies don't just start with 2 employees and huge monthly rent....most sucessful businessess start from home and they have a base cliental they rely on (friends and family too). A lot of businessess don't show a profit for the first year or two until they become better known.
Good Luck!
- Princess BuffyLv 61 decade ago
Jewelry store have what they call "keystone" which means is if they put a ring on sale and it cost them $200- the charge you $400 , they just take the cost and mark it up 100% or double (some times more)
but businesses usually mark items up an average of 40% to make a profit- 40% -70% is what grocery stores do, I worked in that industry for many years
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- 1 decade ago
Get a job in the real world and you will find the Jewlery and Furniture have the HIGHEST markups. Nothing, I repeat nothing else has have been on sale for 50% - 75% off. Do you think they will lose when they advertise that, no way. And people ***** about car dealers, when was the last time you saw a 50% off sale at a car dealer....NEVER. The markup is huge in jewlery.
