Page 1 of 2 12 LastLast
Results 1 to 15 of 19
  1. #1

    Default New Business Startup & Retail Industry

    I'll start by apologizing if this is the wrong place to ask this sort of question.

    I've spent almost the last two years "getting into" pearls and I believe I'm ready to take the next step by launching a business. However, in preparing my business plan (for the bank), I cannot seem to find any information regarding the estimated value of the retail pearl jewelry industry in Canada/USA, it's health or trend...nor can I find any information that might assist in realistic start-up sales projections for a new online retailer (assuming the website is supported by online advertising of moderate effectiveness).

    If anyone has any insights or experience they'd be willing to share, it would be greatly appreciated.

  2. #2
    Rare Pearl Senior Pearl-Guide.com Pearl Expert Caitlin's Avatar
    Join Date
    Dec 2004
    Location
    near Tucson AZ
    Posts
    8,513

    Default

    Morphius
    Buy a copy of Elisabeth Strack's book, "Pearls". Cost $120 plus postage. Look around for a copy in the Books section of this forum.

    You may have to create the estimates yourself, by at least one trip to Hong Kong, let alone Japan or China. Whatever level you buy into, you should be able to turn at a profit. So go there and get a realistic estimate of what it would cost to buy in at various levels by visiting booths and bargaining. We have a number of peoples' experiences recorded here. The retail business in Canada and the US, aka the "brick and mortar" stores have extremely small yet costly inventories compared to the typical online dealer such as the the ones who are members of this site. This fact has changed the face of the retail pearl industry.

    Good luck in your endeavor. I hope you report back.

  3. #3

    Default

    Hi Caitlin
    Thanks for pointing me towards the "Pearls" book - I'll definitely look into it - and I do already know I will be able to turn a profit. I've already been China (Hong Kong and Beijing), visited a couple markets and farms there. I'm also receiving high quality pearls from China and Japan as a result of past trips and hooking up with old university colleagues who are Chinese nationals. I'm also already seeing sales - just not online sales because I'm not online yet - but my business plan is due before I'll have time to get this information. So I was hoping that with all the online pearl big-wigs here, I figured many most likely started out small before going online...and was hoping they'd share how much of a change it was in terms of sales increase; but I also understand that's probably fairly personal so i understand.

    Perhaps someone knows the estimated value of the retail pearl jewelry industry in Canada/USA though?

  4. #4
    Pearl Scholar Senior Pearl-Guide.com Pearl Expert pattye's Avatar
    Join Date
    Dec 2005
    Location
    Oregon
    Posts
    7,125

    Default

    Maybe the CPAA would have some of the information you need?
    Pattye


    PatriciaSaabDesigns.etsy.com

    facebook.com/PatriciaSaabDesigns

    SO MANY PEARLS, SO LITTLE TIME----

  5. #5

    Default

    i remember a few years ago seeing some numbers at the world pearl forum in dubai. it was like a few hundred million but not sure if that was in the usa or global. if i can find the thumb drive that was given out with all the presentations maybe i could the figure for you.

  6. #6
    Super Moderator Senior Pearl-Guide.com Pearl Expert jshepherd's Avatar
    Join Date
    Jun 2004
    Location
    Manhattan Beach, CA
    Posts
    4,756

    Default

    I think that estimate might be a bit low for the US. I can think of two companies on the East Coast that do about $100m combined, and they deal almost exclusively in the low end of the market.

  7. #7

    Default

    100 million combined? That's encouraging to hear. I think with the Internet people have become more knowledgable in pearls and hence more interested in pearls.

  8. #8

    Default

    Ok, i found the Dubai World Pearl Forum thumb drive. Sonny Sethi from the Cultured Pearl Association did a presentation. He has US pearl and pearl jewelry sales at $1.7 billion.
    But pearls make up only 2% of jewelry sales . My memory is lousy.

  9. #9
    Rare Pearl Senior Pearl-Guide.com Pearl Expert Caitlin's Avatar
    Join Date
    Dec 2004
    Location
    near Tucson AZ
    Posts
    8,513

    Default

    Were you going to do something with that thumbdrive? I mean, only facts- no photos?

  10. #10

    Default

    Quote Originally Posted by Unusual Pearls View Post
    Ok, i found the Dubai World Pearl Forum thumb drive. Sonny Sethi from the Cultured Pearl Association did a presentation. He has US pearl and pearl jewelry sales at $1.7 billion.
    But pearls make up only 2% of jewelry sales . My memory is lousy.
    I assume what is meant is that $1.7 billion is 2% of all jewelry sales yes? Because 2% of $1.7billion in sales seems awfully low at $3.4million.

  11. #11
    Super Moderator Senior Pearl-Guide.com Pearl Expert jshepherd's Avatar
    Join Date
    Jun 2004
    Location
    Manhattan Beach, CA
    Posts
    4,756

    Default

    Quote Originally Posted by morphius View Post
    I assume what is meant is that $1.7 billion is 2% of all jewelry sales yes? Because 2% of $1.7billion in sales seems awfully low at $3.4million.
    2% of $1.7b is actually $34m, I believe. That is still not even close.

    I think what he was saying is exactly that. $1.7 billion is 2% of all jewelry sales.

  12. #12

    Default

    Quote Originally Posted by jshepherd View Post
    2% of $1.7b is actually $34m, I believe. That is still not even close.

    I think what he was saying is exactly that. $1.7 billion is 2% of all jewelry sales.
    LMAO - stupid decimal! its a real good thing that math wasn't one of my strong subjects in university otherwise that could be embarrassingly funny.

  13. #13
    Super Moderator Senior Pearl-Guide.com Pearl Expert jshepherd's Avatar
    Join Date
    Jun 2004
    Location
    Manhattan Beach, CA
    Posts
    4,756

    Default

    I can't say I've ever been a big math fan either!

    It would be interesting to know where he got that information. This was quite a few years back and we were just dipping into the recession, so I imagine that number has dropped a bit lately.

  14. #14

    Default

    Oh yes - i'd love to know where how the number was derived. I know I spoke with anyone who would respond to my many many many emails...from CPAA, to JCK, GIA, CJA and more...plus quite a few private people who were referred by organizations..and no one was able to provide me with any numbers that were not at least 4-5 years old. I was referred to several government and industry publications which may have had information pertaining to that...but I could not afford the very high prices. Needless to say, I had to submit my business proposal with industry financial information; and this missing information was cited as one of the reasons for the business plan being rejected - such is life

  15. #15

    Default

    Quote Originally Posted by Caitlin View Post
    Were you going to do something with that thumbdrive? I mean, only facts- no photos?
    As you can see it is a beautiful baroque thumb drive but with a dyed blue color. I am thinking it come from China.
    Attached Images Attached Images   

Similar Threads

  1. Pearl Grading on Retail-Jeweller.com
    By jshepherd in forum Pearling Industry News
    Replies: 1
    Last Post: 10-11-2010, 07:34 PM
  2. How to Start a Home-Based Online Retail Business
    By Caitlin in forum Pearl Books and Resources
    Replies: 92
    Last Post: 11-02-2009, 10:23 AM
  3. Replies: 24
    Last Post: 05-06-2009, 07:29 PM
  4. Pearl retail market in USA today
    By CLICLASP in forum Pearling Industry News
    Replies: 65
    Last Post: 12-20-2008, 08:12 AM
  5. Bought more - this time retail (ouch?)
    By operavopera in forum Tahitian Pearls
    Replies: 31
    Last Post: 09-23-2006, 12:50 AM