Fairina Cheng
Video Entry
Business Information
Female Founder:
Fairina Cheng
Links:
How has the business been funded to date?
Bootstrapped, Government
Tell us about your business:
I create unconventional custom jewellery for rule-breakers and story-makers. My goal is to change the jewellery industry, one ring at a time, by creating ethical, locally-made designs for those who feel unrepresented by the traditional wedding industry. My jewellery is one-of-a-kind or made in small runs in a sunny Sydney studio. There are no large warehouses of excess, seasonal stock here. Most jewels have a home before they’re even made. Crafted in ethically sourced gemstones and Australian precious metals, this is jewellery that speaks to your values around individuality, sustainability and love.
How would $5k or $10k enable you to create more profit and impact in your business?
My DIY brand has served me well over the past 12 years. However the website is slow, the shop isn’t optimised and the brand is dated. As a sole trader, the number of customers I can serve with time-intensive bespoke projects is limited, stifling further growth. With funding, I would launch my new brand with a fast, e-commerce-optimised Shopify website and a ready-to-order product range (strategically optimised for repeat purchases and upsells). Unlike custom, ecommerce is the highest impact way to exponentially scale and double revenue within 12 months (with minimal labour input, upfront investment and with a lean team).
Please outline what you would spend the grant on:
I’d spend the $5k creating my Shopify website, with the core purpose of promoting ready-to-order jewellery (total $5,500). This will be supported by the launch of the new brand in August 2024. New collections with ethically-sourced gems and Responsible Jewellery Council-certified metals will be added to the site, focusing on anniversary, giftable and stackable designs to increase average order value. An experienced e-commerce coach with a track record of scaling 6-figure brands to 7-figures has been hired to maximise the impact of the Spark grant. Our goal is to generate $300,000 in e-commerce revenue by 31 May 2025.
