Are you in between jobs, seeking self-employment or simply want to start a side hustle to supplement your income? There are numerous businesses you can start, but you may be limited by the amount of money needed for capital. Don’t be discouraged, there are some business ideas that you can start with as little as Kshs2000. One such business is selling jewelry.
Women love looking pretty and will spend cash to ensure they stay that way. You can never go wrong with selling things like earrings, rings, necklaces, body chains, hair jewelry, watches, bangles etc.
Where to buy them
The best street to purchase jewelry in wholesale is Dubois Street which is off Accra Road. Both sides of Dubois road are lined with shops selling jewelry, makeup, inner wear and hair extensions. Avoid purchasing items from the stores that are near the entrance to any building, as they tend to be expensive. Choose a day where you can visit that particular and walk around without a hurry. For every shop that you visit, ask for prices so that you can compare them later on.
What can you buy?
So you have Ksh2000 and you are wondering what to purchase. Watches range from 150-300 depending on the design, so at that price you can expect between 6 to 13 watches. If you sell them at 250/= or 500/= for both, then you can expect to make a profit of either 100/= or 200/= per watch. Earrings go for 50/= a pair, meaning you will get 20 pairs. Sell them at either 100/= or 150/= and make a profit of either 2000/= or 3000/= Rings go for 100/= each and can be sold for 150/=
Where to sell?
So now you have your items and are wondering where to sell them. Start with colleagues and friends. Then move on to family as well. Utilize WhatsApp to share pictures of the items you have. You can also share them on your Instagram or Facebook page.
Decide on the percentage of the profits you will pay yourself, and how much you will use to inject back into the business in order to increase your stock. As your business grows, so will your profit.