When you think of selling gold and selling jewelry, you do not often think about selling gold by catalog in Mexico, and yet it is becoming a rather common business model. More and more people are successfully becoming jewelers in Mexico, and they are starting out by selling from catalogs. Maybe it is not the most glamorous way to get into the jewelry industry, but who cares how you get through the door, it is what you do while you are in the industry that counts.
Selling Gold by Catalog in Mexico
If you wish to make a livingselling gold, find your suppliers, and have catalogs printed of their best products. Alternatively, you can use theOroclub.com where the hard work is done for you. After that, you are free to sell gold however you wish. You can set up your own website, you can sell via a stand in a market, and you can even become a one-to-one salesperson and take orders from people in your local community. How you market your products is completely up to you.
Good Quality Merchandise Is Key
Selling is only difficult if you have a poor-quality product to sell. Do you honestly think people are having a hard time selling Jaguar cars? Sure, there are a bunch of people who cannot afford them, but most Jaguar sales are made to people who wander into the showrooms already wanting to buy the car. Contrast that with the poor salesperson in a second-hand showroom who is trying to sell a rusty piece of European engineering to whomever will listen.
If you wish to make the selling process easier, then make sure you are selling top-quality items. This means selling gold jewelry that is attractive, long lasting, and is of a high quality. You would be surprised at how many companies and businesses have a hard time selling because they buy and sell poor quality products. There are even larger chain stores that have cut corners to the extent that they have sold jewelry that istainted with toxic materials.
Do You Need A License or To Change Your Tax Status
Try your business for six weeks. If it works out, then start getting licenses, insurance and changing your tax status to a self-employed person. If it does not work out, then there is no harm from what you did. In tax terms, it is no different than if you sold stuff from your house and it took you six weeks to sell it.
There are a few laws you may need to abide by, but for the first six weeks, you are just testing out your business. For example, if you decide to simply set up in the street, then you may need some sort of street trader’s license. There may also be other local laws that you need to consider.
Take Orders Before You Build Stock
The biggest benefit to selling from a catalog is that you do not have to pre-order the gold jewelry, nor do you have to keep a big stock of items. In other words, you can sell the piece, take the money, and then order what is needed from the catalog. The downside to this method is that the prices you pay are often far higher than if you were to buy jewelry from a wholesaler or manufacturer.
What normally happens is that a jeweler approaches a supplier and buys a bulk amount of jewelry. That way, they get a price that is at least 30% lower than regular high-street prices and is up to 300% lower in many cases. However, when you use a pre-order catalog method, the supplier has no reason to give you a lower price, which means your profits are lower.
What you can do, is start selling from a catalog, and if you notice certain items and certain brands are selling well, you buy a bulk job lot where you may buy at a lower price. Not only does this improve your profit margins, but also means that you have the stock right away so that your customers do not have to wait as long to receive their purchases.
Learn About Local and Distance Selling Laws
Buyers have a lot more protection than it may seem. Even without a written contract, and even on the basis of a brief verbal agreement, your customer is very protected and you may go to prison for misleading them even slightly. Some traders promise one thing and then deliver another, and they think they will get away with it forever, but even with no evidence, the authorities are able to catch and prosecute rogue traders. The reason is that all they have to do is prove that you did it once, and they will be able to successfully prosecute almost any other claim made against you, and are usually able to fine you up to $5000 for smaller cases, and tens of thousands if the purchase-selling/malfeasance earned you thousands.