Start Your Own Jewelry Line
If you have a talent for creating jewelry designs, starting your own jewelry business can bring you extra cash or a full-time income. Jewelry remains a popular item for both gift giving and personal use, and there are hundreds of different jewelry designs and materials to work with. While it could be lucrative, there is also a lot of competition. You'll have to work hard to get your jewelry designs noticed. Find out how to start your own jewelry line to see if it is an endeavor that will work for you.
Steps
- Take stock of your technical abilities and design skills. Spend a lot of time designing jewelry for yourself, friends and family before starting a jewelry business. Compare your pieces to the competition to be sure you are ready to start selling your jewelry.
- Gather the tools and materials you will need to produce your own jewelry designs. Find bulk and wholesale sources of materials to save on production costs. Create an inventory system that makes it easy to order supplies when you need them.
- Write down your business goals and plans. Decide who your target customers will be to help refine your choice of jewelry designs and marketing. Think about what sets your jewelry apart from the competition to help create a niche. Determine how much money you would like to make from your jewelry business.
- Set prices for your jewelry designs. Take into account the supplies and time it takes to create pieces for your jewelry business, as well as your operating costs and investment.
- Think about where you will sell your jewelry. There are many options for sales, and you can focus on one area or do a combination of sales. An online store, selling at craft shows and farmers markets, home parties or getting your jewelry line into local stores and boutiques are some ideas. Your sales efforts will be determined by your target market and sales goals.
- Talk to a business adviser or accountant to find out how to start your own jewelry line. Determine how to set up your company, register with the state and IRS, and handle tax issues. Find out what kind of insurance and liability coverage you need. Ask your local government officials about necessary permits and licenses.
- Create a logo and printed materials for your jewelry business. Get a logo in high-vector digital format that can be used on printed materials and online. Make up quality business cards and letterheads. Have a high quality, glossy brochure or catalog printed to show off your jewelry pieces.
- Market your jewelry business online. Create a quality website to show off your jewelry designs and give information about your company. Register with online local business directories and sites like Google Places. Open shops on Etsy and eBay. Find out about placing your jewelry in online boutiques.
- Learn some of the practical aspects of running a business. You will be responsible for accounting, finance and marketing. Read books about starting a business. Take classes online or at a local college. Consider hiring an assistant or teaming up with a friend who is business or sales oriented to help start your jewelry business.
- Continue working on your skills and design. Take advanced classes in jewelry making to learn new techniques. Keep up with trends in the industry. Join professional associations and online groups. Read magazines and professional journals.
