As all of us know, jewelry is a complement piece of our outfit. It is preferable to wear most of the time because it makes your outfit more elegant. It can be something that you buy for yourself or buy for someone. It is a great option as a gift as well.
Depends on your fashion understanding, you could choose different materials, different styles, and different colors in order to create different looks. Apart from buying, you can make your own jewelry as well. It can be for fun or it can be for business purposes.
If it turns to a business, in the jewelry industry there is lots of competition. Because everyone has a different understanding, everyone likes different jewelry and there are so many options in the market. So, if you want to be a part of this industry, you have to work hard. If you want to get your jewelry design business noticed, you have to keep in mind that it is not an easy way at all.
Let’s say you have already decided to take one step beyond and turn your hobby to a business, it is a perfect start for taking a part in the jewelry industry. This business, actually your hobby, may bring you extra money in the beginning and by the time it can be a full-time income. Once you take a place in that business, there are lots of changes in order to grow fast in your business.
You may think that in order to become a part of the jewelry making industry crafting skills are required. However, it is not required actually. If you have an ability to be creative, it is a plus of course. But, for business, it is not required. Instead of creativity, maybe you have the technical understanding talent and you can charge on that. You can follow a new trend in the world, you can find stones, metals or whatever you need for jewelry making. Or, perhaps you are DIY-stunted but have an incredible online business idea based on an untapped audience.
As a conclusion, whatever your motivation or skill level for jewelry making, starting a jewelry business comes with its own set of considerations and complications.
Jewelry business is a difficult job to do. It is not as easy as you think. But, when you create your design, your logo, your business, and so on, there is nothing impossible. Even though it is a competitive business, in the end, every area is competitive. You need to come up with new and different ideas to make you special among others.
Steps For Starting A Jewelry Business
1. What is your business goal?
You can start by writing down what you expect from this job, what your goals are and what you want to succeed in what you are waiting for from your jewelry business. Even though it sounds like a waste of time, it is actually very helpful. Your missions could be describing your purpose business, what the essentials are for you, and what you are prepared to offer your customers. By writing down, it will be easy for you to decide what your priorities are.
You should determine your target customers. Determining your target will help you to decide what kind of jewelry you want to produce and to improve your jewelry design and marketing. After deciding your target, you can create more proper types of jewelry and it makes you better among competitors. Also, writing down a couple of things about money. It will be helpful for your business motivation.
2. Searching for products
After writing down every possible thing that comes into your mind about business, it is time to search for your products. Define your target customer and your products occasion-specific. Customers could be classic, trendsetter, brides, daily wearers, etc. Occasion-specific products could be a wedding, parties, every day, etc. When you established everything, it will become easier to identify an overall look that will define your brand.
3. Cash flow for your jewelry business
To run a business, you need a pretty amount of money and you should able to predict that. You should save money for later and you should avoid overspending. Because, in the first couple of months, you cannot wait to gain money from your business. Those months will help you to be recognized. So, you need to take into consideration what could be dangerous for your business and you need to take precautions. You should know how to deal with them. In this case, saving money and keeping money all the time would be your best friend to start a new business.
4. Find a creative name
Choosing a name for your jewelry business is the most fun part of these steps. It is an important part of your image because it defines who you are, what you do and what style of jewelry you create and you provide. First of all, you need to find a name that creative enough. It should remind your customers something else or it should be something remembered. It should be something completely irrelevant from your style and designs.
The name should relate to common industry terms that your target customers may already be familiar with and it effectively conveys your brand message to your target audience.
It is recommended that using your name partially or all on your business gives a good impression of your work. In the market, many famous designers’ jewelry is known by the designers’ own name, so maybe you want to go this way. Or, choosing an interesting and catchy word could work for this purpose. You should fun of deciding how to express your jewelry in your business name. It shouldn’t be a name that limits your business. Even after 10 years, you could use the same name with the same meaning.
5. Register your name
You need to be sure your jewelry business’ name is not already taken. If it is not used, you should register and protect it. This step is very important because even if you have been operating for years under your business name, if you haven’t registered it, someone else could register it tomorrow and you would lose the right to use that name. It is essential that your business is registered to avoid all sorts of legal problems and getting penalized.
6. Create a logo / Branding
You need a memorable and attractive logo to identify your business. This logo will represent your business in a huge market. In order to make an attractive logo, you need to understand what your customers want. Also, you should add your personality to your logo clearly. So, you can create a logo that will represent your jewelry business well.
The logo is more than just the look of your brand. It encompasses your voice, vision, fashion understanding and story. Tell your story through your logo and name. There are a few different types of logos to consider for your jewelry business, such as illustrative and font/wordmark.
Illustrative are simple images that convey your brand stories. Font/ Wordmark leads lots of jewelry making businesses opt for elegant calligraphy. Whatever you decide on for your logo, try to create a synergy between you, your logo and style of your logo. Try to choose your theme color and logo size wisely.
7. Do your market research
Market research is a very important step you need to pay attention to in order to be successful in the jewelry business. It is a kind of learning. You are going to learn other companies in the industry, for example, what kind of designs they have, what kind of jewelry they have, how their business runs, and so on. an organized way of learning about your competitors as well. It includes exploring the industry and your competitors, trying to understand what customers want, and deciding how you can meet those desires in terms of business.
You should identify your target market. Regardless of what kind of jewelry business you want to run, you need to determine who the people are that are most likely to purchase your designs. So, you can craft your marketing plan in order to speak to that consumer population. You can gather insights and information about your customer base by setting up social media accounts.
8. Get help from your local chamber of commerce
It is the most legal part of this job. Registering is important for you and for legal issues. You need a tax ID number in order to corporate, so you need registration.
9. Find a place to sell your jewelry / Online
It would be a good idea to find a place where easily reachable. However, it doesn’t have to be a real and concrete place to sell your jewelry or run a business. You can sell your jewelry online. In this way, you can sell your jewelry pieces to customers across the world. You can also open a shopping site on Etsy and eBay and find out more about placing your jewelry in online boutiques.
Selling online is one of the easiest ways to sell your jewelry. On the other hand, you may sell your jewelry at small pop-up retail and artisan shows. In this way, you can get a chance to meet and interact with your customer base and you can share your passion for your business.
10. Creating a web page
If you want to run your business online, you should create an attractive web page. Or, it is not necessary to be only for online selling, basically, it can be for your business. When it comes to the words on the page of your business, you have to make sure it complements the visual aesthetic you have created with your design and product photos. Product descriptions should reflect your business and include all the necessary details such as sizing, materials, stones, pricing, etc.
11. Product photography
Product photography is very important in terms of online business. It either increases or decreases your fame in the jewelry business market. In this case, it will be a great idea to work with a professional photographer. They are skilled people at making models comfortable and setting up complicated lighting. While working with skilled people will lead to better results and it doesn’t have to over your budget. When shooting photos of jewelry, it would be good to offer different views and angles of your products.
12. Social media
You need to create social media accounts besides your webpage to get your jewelry business known. Since social media has gained popularity and jewelry is all about an exhibition, you need to be active on social media. There are lots of apps, websites and programs that you can show your business to the world.
You should prepare every piece of your jewelry in terms of packaging, whether you make it or only sell it. It should be different from other businesses on the market. Besides the jewelry itself, apart from its design, you have to give importance to packaging. The packaging design needs to be useful and makes the consumer choose your products in the market.
14. Make and do what you love
During the jewelry business, you should do the job you love. Without love, you cannot produce unique designs. And, it is not a job that you cannot do without putting all your effort and heart. Because you need to work for longer hours in order to produce maybe only one piece of jewelry. Remember that you will be working for hours. So, it is impossible to do what you don’t like. You should encourage your workforce and engage yourself with your business.
If you want to produce the jewelry you sell, there are different ways to do it. Depending on materials and design, some methods of jewelry production require specialized training or certification and expensive equipment.
Handcrafting jewelry is the jewelry that allows you to put something personal. And, it is highly preferable from time to time. It often involves the assembly of existing elements such as chain, wire, beads, cast pendants, etc. It doesn’t require special training or equipment beyond pliers, jewelry hammers, glue, and wire cutters. Due to these reasons, it is easier to scale which means evaluate your work is easier compared to other business types.
On the other hand, rather than making the jewelry with your own hands, you can have your designs manufactured by someone else. This is not ideal but it can be cost-effective for fashion jewelry produced in larger quantities.
If you have decided to make the jewelry in-house, you will need a workshop space for you and your team. When setting up this space, consider maneuverability, safety, and storage.
15. Being tolerant of yourself and your business
You should keep in mind that, like in every business, it takes time. In order to be successful in this business, you need to be patient. Do not expect that everything is going to happen after the idea comes to your mind. You may need to be patient for years. So, patience and tolerance are the keys in terms of success! While dreaming, you need realistic expectations as well.
After all this information, you have a right to know about costs. When you consider starting this business, in the beginning, you shouldn’t expect too much to gain. If you are successful enough you learn the business enough, and you learn customer’s needs enough, everything will be increased. And, depending on the materials you use, the pieces you produce, the pieces you sell, how many customers you have, how good products you have, how your customers make advertisement your business, and so on, your cost and the money you earn vary.
Let’s say you open your business and still you don’t trust yourself. In the market and online, you can find a lot of different examples. YOu can see people’s success. And you can buy these products. Especially on Amazon, you can find several successful products and businesses.
Michael Kors Jewelry Hinged Bangle Bracelet
AZORA Womens Leather Cuff Bracelet Baroque Pearl Wrap Bracelets Gorgeous Gold Tube Bangle Handmade Wristbands Jewelry
Alex and Ani Bangle Bar “Star of Venus” Rafaelian Gold-Tone Expandable Bracelet