Company: Moi Moi
It's true all that glitters isn't gold, but it could be just as lucrative. Alana Chang, along with her sister Lauren, has transformed her Moi Moi jewellery chain into a million-dollar business by gaining the exclusive rights to sell the rare jewel moissanite.
The jewel itself is brighter than diamonds and other type of jewels, but significantly cheaper. After Chang's father returned to Australia with a piece of moissanite jewellery after a trip, she spotted a business opportunity and quickly researched how to distribute the jewel in Australia.
She opened the Moi Moi store in Sydney with her sister, marketing the product as an elegant, cheaper alternative to diamonds – an attractive call during the downturn. Chang and her sister are currently investigating franchising opportunities for the company, which boasted $1.1 million in revenue during 2008-09.