How to Maximize Jewelry Profit Margins: Insights and Strategies
Understanding Jewelry Profit Margins Jewelry profit margins can vary greatly depending on several factors, including the materials used, the pricing strategy, and the business model. High-end luxury jewelry made from precious metals like gold and platinum can see substantial margins, often ranging from 50% to 300%. On the other hand,
How to Categorize Risk to Develop the Best Prototypes
This is a guest post by Justin Knowles, Founder and Principal at Facture. When developing a new product, identifying and mitigating risks is crucial for success. Here, we provide guidance both on how to identify them and create a plan to mitigate them. To keep things simple, we merely list
Trade Compliance Made Simple: What Importers Need to Know
This is a guest post by Alice Guzman, Senior U.S. Customs Associate at Importal. International trade compliance is in the spotlight, and for good reason. With Section 301 tariffs, free trade agreements (FTAs), and tariff exclusions making waves, importers are navigating a complex and ever-changing environment. If terms like these
Refine Your Idea and Define Features for a Breakthrough Prototype
This is a guest post by Justin Knowles, Founder and Principal at Facture. In the last article, we provided a primer on the five main steps to develop a solid prototype. In this article we will focus on the first two steps: refining your idea and defining the feature set.
