101 Questions for Jewellery Business Plan

  1. What could be the location of operation?
  2. Is the location specified a residential or an industrial area?
  3. Age of your target market is? 
  4. Gender of your target market is?
  5. Analyse the area profile.
  6. Who are the major competitors in your field?
  7. What is the average annual income of a family from the locality that you have chosen?
  8. When is the peak season for sales (specific months)?
  9. What will you name the brand?
  10. Are the accessories customisable?
  11. Are the accessories handmade or machine made?
  12. If it is both handmade and machine made, please specify the ratio between the two.
  13. What are the types of accessories that you intend to sell?
  14. What is your ASP (average selling price)?
  15. What are all the other organisations you're a member in?
  16. What is the Unique Value Proposition?
  17. For what type of services, you have bought a license for?
  18. Have you bought a fire license?
  19. What is the maximum pax count?
  20. What is the operational time?
  21. Do you provide delivery services?
  22. What is the theme of the store?
  23. Have you bought all the relevant licences?
  24. What are the hygiene standards you are following? (related to COVID- 19 and others)
  25. Will there be a surge in employment during peak seasons/ hours?
  26. What is the eligibility criteria for employees?
  27. Are there dress codes for employees?
  28. If yes, do you provide uniforms?
  29. What is an average employee salary?
  30. Any Standard Operating Procedure (SOP) available for employees?
  31. Do you have any floating employees?
  32. How many floating employees are there?
  33. How many sales staff would be present in the organisation?
  34. How many management staff would be present in the organisation?
  35. How many cleaning staff would be present in the organisation?
  36. Any partnership with delivery channels?
  37. Who are all the suppliers?
  38. Are there any eligibility criteria for suppliers?
  39. Have you analysed the prime time for acquiring materials?
  40. How are the materials supplied?
  41. How are the materials stored?
  42. Where are these materials stored?
  43. What is the procurement procedure?
  44. Are there any specific conditions to be followed in storage of certain materials used?
  45. How long does it take to refill sold out stock on average?
  46. How are you planning to advertise your brand?
  47. Are you planning to make products available on ecommerce websites as well?
  48. How is the store purchase facilitated?
  49. Any tie-up with other businesses or partnerships? (excluding ecommerce websites)
  50. What are the modes of payment for suppliers?
  51. What are the modes of payment for customers?
  52. Is digital and traditional payment possible?
  53. What are the legal problems the fashion industry faces?
  54. How will you mitigate them?
  55. Any Standard Operating Procedure (SOP) available for the Legal team?
  56. Who is responsible for budget allocations?
  57. Who is responsible for daily accounts?
  58. How often the amount will be deposited?
  59. Any Standard Operating Procedure (SOP) available for the Accounts team?
  60. Any Standard Operating Procedure (SOP) available for the Finance team?
  61. Is there a refund or return policy?
  62. What are the parameters for refund?
  63. What are the parameters for return?
  64. Does the store have social media accounts, webpage and an active online presence?
  65. How are the ads run? (Traditional vs digital)
  66. If traditional and digital marketing is performed, specify the ratio between them two.
  67. What is the psychographic segmentation that you target on? (believes and lifestyle)
  68. What is the sales strategy?
  69. Will there be offers throughout the year or during specific seasons?
  70. If offers are given during specific seasons, those can be mentioned.
  71. How are major campaigns run?
  72. What is the budget of a peak season campaign? (festivals etc)
  73. What is the budget of a sale season campaign?
  74. How many supervisors needed?
  75. Do you have a lift facility?
  76. Who is responsible for maintenance activities?
  77. How often floors should be cleaned?
  78. Will there be a database maintained for previous customers?
  79. How will the previous customers be contacted?
  80. How will the database contribute to your sales target?
  81. How will the exterior look for the showroom be?
  82. What will the interior look like?
  83. What is the sump capacity?
  84. Are the restrooms unisex or gender specific?
  85. How many restrooms will be present in the building as a whole?
  86. How many restrooms are located per floor? (employee use)
  87. How many restrooms are located per floor? (customer use)
  88. What are the safety measures for customers safety?
  89. Fire exit per floor is?
  90. Would music be played in the store?
  91. How are the customers greeted?
  92. Will there be discount coupons and other offers made available for regular visitors?
  93. Any special method for cleaning tables?
  94. How often restrooms and hand wash areas should be cleaned?
  95. Any Standard Operating Procedure (SOP) available for the Maintenance team?
  96. What are the events that can be conducted? (masterclass with collaboration etc)
  97. Does the lighting of the store support the accessories’ pictorial enhancement?
  98. Would bulk order be taken?
  99. What is considered a bulk order? (parameters)
  100. Would there be a price deduction in case of a bulk order?
  101. How many working days on average would it take to deliver a bulk order?

101 Questions for Jewellery Business Plan


Written by Venkadesh Narayanan

Venkadesh is a Mechanical Engineer and an MBA with 30 years of experience in the domains of supply chain management, business analysis, new product development, business plan and standard operating procedures. He is currently working as Principal Consultant at Fhyzics Business Consultants. He is also serving as President, PDMA-India (an Indian affiliate of PDMA, USA) and Recognised Instructor of APICS, USA and CIPS, UK. He is a former member of Indian Civil Services (IRAS). Fhyzics offers consulting, certification, and executive development programs in the domains of supply chain management, business analysis and new product development.

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