Tips to Start a Successful Jewelry Business

How do I Make My Jewelry Business Successful?

     Jewelry is associated with women, although there are also men who are interested in collecting it as a collection or investment.

Jewelry is not just a complementary accessory in appearance, but also a tool to show the social status of the wearer, from ancient times to the present. So that the jewelry business is a pretty promising thing.

Evidence of how big this business is is the number of entrepreneurs who have been successful and able to develop their jewelery business not only on a national scale but also on an international scale.

The development of the jewelry business is the same as the fashion world. Therefore, if you want to start a jewelry business, then you must update all the latest information about the world of jewelry which is always dynamic and follows market demand.

The following are simple tips that you can do to start a jewelry business.

Define Your Product

Starting a successful jewelry business at home or anywhere else has its own set of considerations and complications.

One of the questions you have to ask yourself is: fine or fashion? Or maybe your interests are in between. Each jewelery category has its own materials, manufacturing process, price point and customer profile: (nerdwallet.com)

Fine jewelry

-  High price point

- Crafted with precious and semi-precious gems and metals.

- Made with excellent craftsmanship, commonly not mass produced.

- Fashion or costume jewelry.

- Generally for luxury/wedding/special occasion customer.

Usually trendy

- Low price point

- Made of inexpensive or less expensive metals and materials (beads, plated metal, wire,  plastic, synthetic gems)

- For daily customer

- Mass produced

Other/in between

- Price point varies but commonly mid-range

- This category covers from jewelry made with mid-range materials (textile, metals, wood, 3D printing, semi-precious gems) to jewelry defined as art (made to order, collectible, one of a kind) or highly skilled craftsmanship

- Uniqueness and Emphasis on design

- Occasion/statement, design-savvy/gift-giving customer/collector

Create a Business Plan for a Jewelry Brand

A formal business plan may not be necessary if you don't plan to pitch your idea to investors, or seek outside funding.

However, checking out some of the business plan templates might be a good exercise to help you understand your business model, target customers, costs, and business development plan. It is also helpful when you are learning how to run a jewelery business.

Production Process

How to make jewelry? How you’ll develop the products? By hand or in a factory, at home or outsourced, it depends on the complexity of jewelry design, price, materials, and skill level. Here are four kind of ways to make jewelry.

Handmade jewelery: Fine and one of a kind (OOAK)

Depending on the material and design, some methods of fine jewelery and OOAK production require special training/certification and expensive equipment.

If you want to know how to start a handmade jewelry business, you may need to study some of these methods: Silver/goldsmithing, Soldering, Casting, Laser cutting, 3D printing, Weaving, Leather tooling, Gemstone setting

Once you know which field you want to study, you can invest in paid classes or apprenticeships with experienced craftsmen to improve your skills.

Handmade jewelry production: fashion and costume

Handmade costume jewelry frequently involves the assembly of existing elements—chain, wire, beads, cast pendants—and doesn’t need training or equipment beyond basic hand tools.

This type of business is easier to scale, as you can buy elements in bulk and make templates for assembly by production staff.

Jewelry production: outsourced factory

Instead of making jewelry with your own hands, you can order your designs to be made by someone else.

This may not be ideal for fine, custom, or OOAK jewelry, but it is cost-effective for fashion jewelery that is produced in large quantities.

Jewelry production: Print on demand

The most convenient production method is uploading your design to a print-on-demand application. Your original design is 3D printed, or recreated in stainless steel, plastic, wood, gold or silver and sent directly to your customer.

Take professional photos of your products

Product photos can create and support your online store. So, if you want to know how to start an online jewelry business, you'll need to brush up on your product photography as well.

With a simple lighting setup, you can get great jewelry photos, even with just your smartphone.

Jewelry, however, can be a little more challenging, due to the small details and reflective surfaces.

Create Your Online Store

Now that you have your production, branding, and product photos nailed, let's get things together. In no time, you can set up an online shop to run your jewelry business.