How to Start Your Own Jewellery Making Business
Taking your hobby to the next level by turning it into a profession comes with numerous challenges. Majority of the jewelry startups succeed because they offer a product range that’s completely different from the jewelry present in the market. If you are getting a sea of appreciation for exquisite jewelry designs you make for personal use, you might consider leaving your day job to earn the big bucks. But the way a jewelry business works is completely different than the homemade approach you use for selling your creation to friends and relatives.
Buying the metallic wires, flex shaft, acrylic sheets and stones for jewelry making isn’t the only step.
Here is a guide that informs you of each and every phase in setting up jewelry making business -
1. Type of Jewelry
What kind of jewelry will you sell? The three main categories are -
Fine jewelry
Buying the metallic wires, flex shaft, acrylic sheets and stones for jewelry making isn’t the only step.
Here is a guide that informs you of each and every phase in setting up jewelry making business -
1. Type of Jewelry
What kind of jewelry will you sell? The three main categories are -
Fine jewelry
The jewelry which is made from precious and semi-precious metal; gemstones is called fine jewelry. It covers gold, silver, diamond and platinum jewelry.
A bigger budget is required to start fine jewelry as the cost of inventory is huge. The fine jewelry market is unpredictable because of the ups and downs in precious metal prices. Buying precious and semi precious stones wholesale lowers the cost of production of fine jewelry. Further, the other jewellery elements are also exported from the cheapest wholesaler.
Fashion jewelry
Jewelry made from inexpensive material like wood, artificial stones, clothes, ribbon, etc. You need to persistently keep up with the trends or become a trendsetter yourself to excel in the fashion jewelry market.
A large fraction of fashion jewelry is sold by either by individual contractors or designers who run their business with a small staff of a few people. The materials like charms, chains, and stones for jewelry making are purchased from the local wholesaler.
Others
This category includes jewellery that -
A bigger budget is required to start fine jewelry as the cost of inventory is huge. The fine jewelry market is unpredictable because of the ups and downs in precious metal prices. Buying precious and semi precious stones wholesale lowers the cost of production of fine jewelry. Further, the other jewellery elements are also exported from the cheapest wholesaler.
Fashion jewelry
Jewelry made from inexpensive material like wood, artificial stones, clothes, ribbon, etc. You need to persistently keep up with the trends or become a trendsetter yourself to excel in the fashion jewelry market.
A large fraction of fashion jewelry is sold by either by individual contractors or designers who run their business with a small staff of a few people. The materials like charms, chains, and stones for jewelry making are purchased from the local wholesaler.
Others
This category includes jewellery that -
- Combine elements of fashion and fine jewelry.
- Made from cheap non-precious metals which have intricate work.
Women love to shop artful designs filled with creativity. A skilled craftsman has the power to create a piece of extraordinary jewelry. The high-quality artistry involved increases the cost of the jewelry piece.
Example A steal jewelry with diamond.
2. Watch Out for the Trends
Once you have finalized the type of jewelry you will offer it’s time to do some market research. What are your future customers investing in? Search for the bloggers, jewelry magazines, fashion icons and influencers who promote the product similar to you.
In fact, you can decide each and every piece of jewelry you will have in your store with the information you gathered during the market research. According you can order inventory in bulk such as semi precious stones wholesale.
3. Design
Example A steal jewelry with diamond.
2. Watch Out for the Trends
Once you have finalized the type of jewelry you will offer it’s time to do some market research. What are your future customers investing in? Search for the bloggers, jewelry magazines, fashion icons and influencers who promote the product similar to you.
In fact, you can decide each and every piece of jewelry you will have in your store with the information you gathered during the market research. According you can order inventory in bulk such as semi precious stones wholesale.
3. Design
Finding the answer to the below questions.
What jewelry designs your prospects are pinning the most (on Pinterest)?
Which design appear for popular hashtags in your niche on instagram?
Which designer your target audience admires?
Where do they shop?
Now that you have a sense of how your products will look, it’s time to start with the blueprints of the products. You can either do with manually with a pen and paper or on software like Photoshop.
4. Branding
How should people identify you? Here comes the branding part. You have to decide the name of the brand. You can either go for your own name, or initials of names when it’s a joint venture. Another popular choice is to pick a word that relates the customers to your product.
What jewelry designs your prospects are pinning the most (on Pinterest)?
Which design appear for popular hashtags in your niche on instagram?
Which designer your target audience admires?
Where do they shop?
Now that you have a sense of how your products will look, it’s time to start with the blueprints of the products. You can either do with manually with a pen and paper or on software like Photoshop.
4. Branding
How should people identify you? Here comes the branding part. You have to decide the name of the brand. You can either go for your own name, or initials of names when it’s a joint venture. Another popular choice is to pick a word that relates the customers to your product.
Whatever name you choose should be unique and match with the message you are trying to convey about of brand.
Designing the logo is also an important part of your brand’s identity.
5. Opening your Store
a. Online Store
If you are using a website to reach the customer, the content becomes your brand’s voice. You should hire a good copywriter who addresses the audience in the same manner you want. The values your brand presents to the prospective buyers depend on the content published on your site.
The look and feel of the website, product details, and photography will determine the buyer’s decision.
b. Brick and Mortar Store
The location of a brick and mortar store can have a significant impact on its sales. Search for locations where the competition is minimum and yet it appeals to the customers.
Your and staff’s presentation skills set the groundwork for success here. The interior of the store should be tasteful.
Designing the logo is also an important part of your brand’s identity.
5. Opening your Store
a. Online Store
If you are using a website to reach the customer, the content becomes your brand’s voice. You should hire a good copywriter who addresses the audience in the same manner you want. The values your brand presents to the prospective buyers depend on the content published on your site.
The look and feel of the website, product details, and photography will determine the buyer’s decision.
b. Brick and Mortar Store
The location of a brick and mortar store can have a significant impact on its sales. Search for locations where the competition is minimum and yet it appeals to the customers.
Your and staff’s presentation skills set the groundwork for success here. The interior of the store should be tasteful.
Visit: thejewelcreation
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