If you have a talent for making jewelry, starting a business can earn you some extra money, or it can become a full-time job. Jewels are popular items to give as gifts or to show off; there are hundreds of designs and materials to work with. Although it can be a profitable business, there is a lot of competition and you will have to work hard to get noticed. Find out how to start your jewelry collection to understand if the business can be right for you.
Steps
Step 1. Take stock of your technical and creative skills
Practice making jewelry for yourself, your family, and friends before starting a real business. Compare your creations with the competition to make sure you're ready to start selling.
Step 2. Get the tools and materials you will need to produce your creations
Look for wholesale sellers to save on production costs. Create an inventory system to facilitate the organization of raw materials.
Step 3. Write down your goals and business plan
Determine who your target customers will be to refine your marketing models and strategy. Think about the factors that set your jewelry apart from the competition to create a market niche. Decide how much you would like to earn from the sale.
Step 4. Determine the prices for your jewelry
Take into account the cost of materials and the time required to create the pieces, as well as the operating costs and investment.
Step 5. Think about where you want to sell your jewelry
There are many selling options; you can focus on one area or combine sales. Some ideas include: an online shop, selling at fairs and markets, house parties, or selling in local stores and boutiques. The commitment you will put into sales will depend on the target and the economic goals you have set.
Step 6. Talk to a financial advisor or accountant to find out how to get your jewelry line started
Find out how to start a business, the bureaucratic steps and the taxes to pay. Also inquire about the type of insurance, the tax liabilities arising from the business and whether you will need special permits or licenses.
Step 7. Create a logo and support materials for your business
Create a logo in digital format that you can print on materials and online. Make good quality business cards and page headers. Create a great quality shiny brochure or catalog to showcase your jewelry.
Step 8. Sell your jewelry online
Create a quality site to showcase your jewelry and to provide information about your company. Sign up for sites like Google Places to make your business visible. Open shops on Etsy and eBay. Find out how to sell your jewelry in online boutiques.
Step 9. Learn some practicalities of running a business
You will be responsible for administration, finances and marketing. Read books on starting a business, or take courses online or at a local university. Consider hiring an assistant or partnering with a friend who is a business or sales expert for help and advice.
Step 10. Keep working on your skills and models
Take advanced jewelry courses to learn new techniques. Keep up with the industry; join professional associations and online groups. Read professional newspapers and magazines in the sector.
