The United Arab Emirates is a famous country well-known for its luxurious jewelry retail shops and export of jewelry products to other countries around the globe. Setting up a jewelry business in Dubai this year would be considered a lucrative move. Therefore, to start a small jewelry business in Dubai, you’ll be compelled to adhere to specific steps for the success of your business.
So, if you are looking forward to starting a jewelry business in Dubai, here are the proven steps to consider when launching your jewelry business;
- Jewelry business registration
- Apply for a jewelry trading license
- Adhering to jewelry requirements to sell products
- The hiring of staffs members
- Marketing your jewelry business
Unlike other companies, starting a small jewelry business in Dubai doesn’t involve complicated steps. Therefore, this makes it easy for investors to create a jewelry business in the UAE quickly. Additionally, the UAE provides a business setup and a productive business environment to execute its jewelry business activities.
Therefore, a journal article published on 19th June 2007, ‘The United Arab Emirates: The twenty-first-century beckons,’ suggested that the UAE quickly makes its visibility known worldwide, especially in terms of business.
Similarly, the journal article propounded that the country is slowly shifting its gear on oil and has started diversifying into other businesses such as jewelry, real estate, and tourism.
In short, the UAE tends to attract several business investors from different nations to invest in their country. By so doing, it will be a good idea to start a jewelry business in Dubai to establish your presence and brand soonest in the marketplace.
However, many expatriates find themselves in some problematic situations when opening a jewelry business in Dubai or any other type of business. This is because many legal requirements need to be fulfilled to get your business ablaze in Dubai.
Thus, you can always seek help from a reputable business setup in Dubai to help you with all the paperwork and documentation needed to start a business in Dubai. If you do not speak of any company formation in Dubai, worry less. We at Vigor Business Set Up in Dubai assist investors in getting their business running despite all the technicalities they might involve in their business journey.
Therefore, this is the right time to start your jewelry business in Dubai. But, before that, let’s discuss some of the essential nuggets to help you understand this type of business in detail.
How much money do you need to start a jewelry business?
We have you covered if you are wondering how much it costs to start a jewelry business in Dubai. Here, you’ll familiarize different cost lists for setting up a jewelry business.
Therefore, if you want to be an independent jewelry consultant, start an online jewelry store, or sell handmade jewelry items, you’re at the right place. Let’s break them down;
- The Cost of Opening a Retail Jewelry Shop
- The Cost of Opening an Online Jewelry Shop
- Independent Jewelry Consultant Startup Fees & Cost
- Making Handmade Jewelry Starting Expenses
The Cost of Opening a Retail Jewelry Shop
Generally, you’ll be required to have roughly $9,200 – $29,000 to start a retail jewelry shop. The stated amount might include building renovations, logo design, rent deposit, advertising, and business registration.
The Cost of Opening an Online Jewelry Shop
After the pandemic hit, the majority of offices and other physical businesses shifted to the online way of doing things. And so, eCommerce websites increased in demand after the pandemic. In this case, you can also embrace the online jewelry shop and earn a living from your business.
Therefore, if you’re interested in starting an online jewelry store, here is the total cost list of items you’d be compelled to begin with for your eCommerce jewelry business;
The table below shows the estimated amount to start an online jewelry shop
|$50 – $2,500
|Legal Business Registration
|$0 – $79 for LLC, DBA, or INC.
|$9.99 – $50
|Display props and shelve
|$100 – $1500
|Business cards, Logo Design
|$0 – $2,500
|below $25 per month
|$150 Office supplies
Independent Jewelry Consultant Startup Fees & Cost
This is another profession you can venture into in the jewelry business. However, you’ll be required to purchase some items to facilitate the whole process.
Thus, if you are interested in becoming a jewelry consultant, the cost to start a jewelry consultant is rough $604 – $3,153. Apart from that, you’ll incur the charge of transportation, legal business registration, office supplies, and social media advertisement.
Making Handmade Jewelry Starting Expenses
Also, you can as well dive into the handmade jewelry business in Dubai. Most investors find this more convenient, unlike starting an eCommerce store.
Therefore, the total cost for starting a handmade jewelry business might range from $3,285 – to $16,300 plus all the other expenses such as logo design, legal business registration, and jewelry-making supplies and advertising, among others.
And so, if you want to start a jewelry business in Dubai, you are spoilt for choices. Every business model comes with its startup cost. Therefore, opening a jewelry business that suits your interests and fits your budget is recommended.
What qualifications do I need for jewelry?
Starting a jewelry business requires you to have some practical skills to execute the company as needed. Therefore, before starting a jewelry business, you must have some helpful ability to operate tools and materials like gemstones and metals.
Additionally, drawing, attention to detail, and computer design skills are needed to execute a successful jewelry business in Dubai.
Now that you’re acquainted with the nuggets how a jewelry business, what are the steps needed to start a jewelry business in Dubai?
Let’s find out;
Proven Steps to Start a Jewelry Business in Dubai
Step1; Register your Jewelry Business
Business registration is one of the essential steps to consider before launching your business. The UAE authorities have some set rules and regulations every business investor should comply with when starting a business in Dubai.
Therefore, business registration also entails your trade name. You must submit your jewelry trade name to the DED for approval before branding it in your business. Additionally, you must avoid using words contrary to the Dubai Culture. Also, copying other people’s names is taboo in the UAE when launching your business.
So, after you’ve decided on the type of business to do in Dubai, ensure to register your business through the Department of Economic Development in Dubai. Note this is purely structured for those who would have located their business in Dubai Mainland.
Step 2: Apply for a jewelry trading license.
Getting a trade license is another appropriate step to deem fit in your jewelry business setup. Generally, you can apply for your trade license through the DED or under any jurisdiction, your business lies in.
Therefore, to start a jewelry business in Dubai, you must apply for a business trading license through a reputable jurisdiction under your business or via DED, mainly if your business is located on Dubai Mainland.
Once you’ve obtained your jewelry trading license. There are specific requirements you’ll be required to follow. Continue reading to find out;
Step 3; Adhere to jewelry requirements to sell products
Some of the rules associated with the jewelry business include the following;
-Having quality materials
-Your product must pass through EXIM inspection
To have a great business environment in Dubai, you must adhere to their rules and regulations. Once your business has achieved all the legal requirements, you can move to the next step.
Hiring stuffs members and marketing your business through different social media platforms to have a global reach.