Starting your own jewelry business requires more than just skill and creativity. To be a successful professional jeweler, you must have a sense of business acumen.
Following these few tips may help you start and grow your professional jewelry business:
- Learn as much as you can about beading and about running a small business. There are online resources, books your local library and local craft or hobby stores may have workshops to help get you started.
- Create your business plan to include your business name – you can use your own name or create something original.
- Determine your target market – this will help with your marketing plan and costs.
- Know what products your business will offer.
- Prepare a price list; consider the cost of materials, time and labor, marketing and what profit margin you require.
- Create a marketing plan.
- A planned procedure for tracking inventory, invoices, sales and costs is necessary. You can purchase accounting software or use a spreadsheet, but this an important aspect of any business.
- Save money for startup costs. You will need supplies, marketing materials, licensing fees and basic office supplies.
- Obtain the necessary licensing from your local government's business regulatory agency.
- Designate a work space. Ensure you have enough room to create and to house your stock.
- Stock up on supplies but be careful not to overstock.
- Build an inventory of product that you can display, advertise and sell.
- Create marketing materials such as business cards, flyers, and brochures.
- Market your business with advertising tools. A website, advertising in local newspapers, online and through social media business will go a long way in spreading the word of your business.
- Set up booths at arts and crafts fairs.
- Approach storefronts – consignment is a good way for both the jeweler and the store owner to show your products to consumers.
- Host jewelry parties – just like candle, cosmetic, and Tupperware parties, this allows you to sell your goods in a social setting.
Once you have everything you need to get your small business up and running, you can focus on putting your talent to good use and create unique and lovely pieces of jewelry for resale.