How to Start a Jewelry Business
As a result of the COVID-19 lockdown, jewelry became one of the most popular things to make and sell online. During this time, people were crafting to pass the time and ended up with masses of unique jewelry pieces, with which they couldn’t do anything. What better way to deal with heaps of homemade jewelry than to sell it on? With this being said, starting your own jewelry business requires a lot more than just the crafting and selling. Read on to discover everything you must do to start your very own jewelry business successfully.
Determine Your Product Range
First things first, you need to determine what your jewelry shop will specialize in. From gold plated jewelry to fine and precious materials, you need to decide where your jewelry will fall on the spectrum. This product range will stem from your skill level and motivation, and from this you’ll need to decide whether you’re creating fine or fashion jewelry. Both of these categories have their own customer profile, price point, production process, and materials.
When it comes to fine jewelry, you’ll be working with (semi-)precious gems and metals, which will result in a higher price point. Similarly, working with these materials requires a higher level of craftsmanship, which is suited to the luxury customer.
On the other end of the spectrum is costume jewelry, which tends to focus on trends and inexpensive materials. As a result, they’re often sold at a lower price point and are designed for the everyday customer.
In between these two ends of the spectrum, you’ll find an array of other materials that require a certain level of craftmanship. These pieces place an emphasis on uniqueness and design, meaning that the price point is normally mid-range. As a result, the most common customer tends to be the gift giver.
Define Your Brand
Once you’ve decided on what products you’re going to design and sell, this gives you a basis to form your brand. In order to decide on which route your brand is going to take, you should first educate yourself on the trends. It’s important that your brand follows trends closely enough that it’s able to attract attention; however, it must differ enough to be considered unique. Furthermore, you should always consider what is important to people, like ethical practice and sustainable materials. Your brand will be how your consumers perceive your business so it’s important that you get this down.
Once you’ve got your concepts down, you can start the actual production process. If you’re starting your own independent brand and selling online, it’s likely that your production process will be predominantly by hand. Depending on the level of craftmanship you’d like to delve into and the type of materials you’ll be using, you may need certain training and certification. This is worth looking into, as this may impact how you proceed in your production processes.
Set up a Workspace
In order to manufacture jewelry to an extent that you’ll be able to make a decent amount from selling it, you’ll need a dedicated workspace. In creating this area, you’ll need to consider the manoeuvrability, safety, and storage. Within this space, you’ll need to have enough room for all the tools you’re going to use, as well as ample space to carry out your work.
Build the Online Store
Last but not least, you need to build your online store so that people can actually make purchases from you. Sites like Shopify are your best bet for doing tis as eCommerce is built right into the foundations.