Is creating jewelry something you love to do? If you answered in the affirmative, perhaps you have even considered launching a jewelry enterprise of your own. This is an industry that is rather competitive in nature, and as such, in order to achieve real success, you need to start strong. By following some tried and true advice obtained by way of a jewelry design education course and heeding some essential guidance, it really is possible to start a business that combines your love of jewelry with your desire to earn a profit. Keep reading to learn more about what you need to do.
1. Focus on a particular style of jewelry.
It is always wise to try and differentiate yourself from the pack by having a distinctive, signature look to the pieces you create. With that said, though, your jewelry line ought to be capable of categorizing into one of the well-known jewelry styles. This helps potential customers understand and spot your work, especially if they tend to prefer a particular kind of piece. Typical categories of jewelry include fine, upscale jewelry that incorporates high-value stones, fashion/costume pieces made of cheaper media and designed to fit current trends, and mid-range items that are known more for being statement pieces.
2. Get a handle on start-up expenses.
It is worth noting that the cost of starting a jewelry business from the ground up can be quite reasonable, with an outlay of between $500 and $1,000 wholly within the realm of possibility. If you are already equipped with a large stockpile of materials, the cost can be even lower than that. Tools, addtional materials, and computer software relevant to the enterprise are some other expenses that may arise.
Once your business begins to take off, it is likely that you will need to make other expenditures to account for increased production volume. If you decide that a physical location is needed in order to sell your wares, utility and rent costs must be factored into your overall budget.
3. Choose a catchy name for the business.
You should invest sufficient time into the process of choosing your business name. You want something that exudes creativity, thoughtfulness, and relevance to the products you make. Verify that the name you select can be used as an Internet domain name so that you will be able to add a website for sales and general public awareness of your enterprise. Trademarking the name may be advisable if you seek to have exclusive use of the name you pick.
4. Determine which suppliers and processes you will use.
There are numerous online suppliers of jewelry-making tools, materials, and other equipment that sell at wholesale prices. Ask colleagues in the industry which suppliers they use, and try to visit trade shows to start building personal relationships with these suppliers.
When it comes to product development and processes, take the time to plot your design plans. You may have to choose among making your items by hand at home, via outsourced labor, or in a factory setting. The nature of your designs will largely dictate which scenario is best to meet your needs. Certain kinds of fine art silver jewelry making demands high-level training and certification, including silversmithing, soldering, and more. If you are a relative newcomer to the field, it can be smart to enroll in coursework that can help narrow your scope and get where you need to be.
5. Isolate your desired customer base.
It may be that you want to craft high-end jewelry meant for engagements or other major life events. Or, you may hope to appeal to a trendier, younger crowd that prefers less fussy pieces. No matter what angle you wish to pursue with your jewelry business, make sure to identify the customers most likely to buy your products. That way, your marketing approach can be tailored to address just those people. If you are not yet certain which demographic groups are inclined to gravitate toward your style, establish some social media accounts as a way to start your research.
6. Diversity in your marketing.
Because the jewelry making world is crowded and competitive, you need to have a diversified marketing plan in order to stand apart from the crowd. Get started with some business cards and a website and then move onward to establishing an e-commerce option through user-friendly platforms such as Shopify. If you have extra room in your budget, consider using a PR professional to help get the word out about your work. Social media really can work wonders when it comes to building a core clientele, so do not overlook the potential such sites offer.
7. Identify your ideal sales venues.
Selling jewelry can be done effectively via websites, and many find success this way. But, you may also see great results by selling pieces at local art shows and even pop-up retail locations around your region. In addition to gaining greater exposure for your work and designs, you will also have an unbeatable opportunity to mingle with prospective customers and explain why you are so passionate about what you do. Local shops may also be interested in entering into consignment or wholesale commerce deals as your designs gain popularity.