Rough indication of turnover for a jewellery / accessory shop

drn987

I know this is one of those "how long is a piece of string" questions with many variables playing into the figures, but I'm looking for a general range for a women's jewellery / accessories shop.


Assume the following:

1. Selling women's fashion jewellery, handbags, watches, accessories, etc.
2. Selling combination of branded and unbranded goods
3. No precious metals or stones - all items sub €100
4. Selling popular lines at very competitive prices
5. Medium sized shop: 20 customers could easily walk around at the same time
6. Good location in a large town - assume the most popular shopping centre in Waterford/Newbridge/Dundalk or similar.

All I'm looking for is any indication of general yearly turnover figures for a well run and well maintained example of this kind of shop. Are we talking €50k or €200k? Any help would be appreciated.

The Guvnor

IMO too many variables to offer any realistic figure.

antoinolachtnai

If they have a 150 percent markup, they would need to be doing at least 100k ex VAT just to employ three or four staff to barely cover 60 hours of trading a week. If it is a medium-sized store with two staff, they'd need to be doing more than that. If the rent is any way significant (and if there is really a potential for 20 customers to walk in, it will be significant), you'd need to be doing more still.

drn987

We know what kind of figure it would need to be doing, but I'm trying to get a picture of what's feasable for a shop of this type. Could a shop like this turn over 150K or 200K in a good location in a good sized town? That's what I'm really looking for, and why I'm interested in anybody's opinion on possible turnover figures.

antoinolachtnai

Well, if it gets 20 customers a day, that's 120 customers a week, which is 6000 customers a year. If they each spend 50 euros, then that's 300,000 euros.

Really, the sky is the limit for turnover. They could be turning over a million euros a year, or even twice or three times that, or more, if there's a great location, really good operator and/or the prices are really keen. It's impossible to put a figure on it.

You could try and work it out by looking at the number of square meters.

http://en.wikipedia.org/wiki/Sales_per_unit_area

In principle, going by these figures, I suppose you could be doing USD 4 million in a 500 sq m store.

MyAmber.net

drn987 wrote: »

I know this is one of those "how long is a piece of string" questions (..)

From my experience, this is a very short string. I don't know Waterford, but can give you some ideas about Dublin.

1. Shopping Centre on Henry St in Dublin - small jewellery kiosk was making €100-€250 a day (majority around €100) in 2010. Closed down as couldn't afford the rent.

2. This "30 customers a day, €50 each" in Ireland nowadays is a dream. Big, unreal dream. Having products priced from €15 - €100 in 2009 I had an average sale of €35 which dropped to €25 in 2010 (Dublin as well). Many of other businesses I know had to focus on the cheapest things and bigger turnover as nothing which is not a bargain does not sell at the moment.

3. If your stuff is not branded then you are competing with accessories from Pennys. Do you still believe you have "very competitive prices" ?

4. You can do the market research yourself. Spend a day (weekend is the most optimistic), sit nearby the jewellery shop and count people entering the shop. If you could see the till and count real customers even better. That will give you the better picture.

I really don't want to discourage you if you want to open this shop, but those kind of businesses were the first to die during the recession.
And I don’t see any optimistic factors for that sector for at least a year if not more.

neris

If you can pm your email address I,ll try give you some information and suppliers sites. I used to run somthing similar in Dublin a few years ago

drn987 wrote: »

I know this is one of those "how long is a piece of string" questions with many variables playing into the figures, but I'm looking for a general range for a women's jewellery / accessories shop.



Assume the following:

1. Selling women's fashion jewellery, handbags, watches, accessories, etc.
2. Selling combination of branded and unbranded goods
3. No precious metals or stones - all items sub €100
4. Selling popular lines at very competitive prices
5. Medium sized shop: 20 customers could easily walk around at the same time
6. Good location in a large town - assume the most popular shopping centre in Waterford/Newbridge/Dundalk or similar.

All I'm looking for is any indication of general yearly turnover figures for a well run and well maintained example of this kind of shop. Are we talking €50k or €200k? Any help would be appreciated.