If your hobby of making jewelry has turned into a healthy obsession, perhaps you're trying to figure out how to start a jewelry business to offset supply costs or earn some fun money. You might even hope to one day quit your day job if the business takes off.
Unfortunately, the handmade jewelry industry is a bit oversaturated with the launch of sites like Etsy, but we have plenty of tips to help you get started on the right track to give you the best chance at success.
Find out how you can start your own jewelry business and set it apart from all the competition by following through with the steps we've outlined for you. Don't forget to take your time and have fun in the process!
1. Master Your Craft
It's tempting to want to start up a business right after you complete your first jewelry making tutorial. The process seemed simple enough, and the payoff of a beautiful piece of jewelry was rewarding. Take a second to slow down and hone in on your craft. Perfect your jewelry making style so that your jewelry is cohesive, unique to the brand you want to create, and well-made. This process takes time.
2. Set Up the Business
If you aren't sure whether a jewelry business is for you, sell at a local craft fair first to test the waters. It's super easy to make a couple of pieces and throw them online to see what happens. Resist this urge and hold back from having any exposure to the internet until you have solidified how your brand is going to look, how your accounting will work, and all the necessary paperwork is filed. You want your first impression as a business online to be a good one.
Once you're confident in your jewelry making skills and you know that you want to start a business, make sure to thoroughly plan the business side of it. Write a business plan, create a brand storyboard, and sign up for a Tax ID. Pick a fitting name and register for a DBA. Consult with other professionals to perfect your business model before you go to market.
3. Pick Your Selling Venue
Figure out if you're going to sell online, in person, or both. Do you want to open a brick and mortar shop? Do you solely want to do craft shows? Do you want a dot com website or do you want to sell on a site like Etsy? Much of this will be part of your business plan from the previous step, but it's essential to determine where you want to sell and how your inventory will be managed.
Once you figure this out, research other jewelry businesses that have had success selling in these venues. Take insight from these businesses rather than copy them exactly.
4. Gather an Inventory
Even if you only want to sell online, make sure you have more than just a few pieces to sell. It's common to think that you can just make pieces here and there as the other ones sell. However, in order to gain forward momentum, you'll want to start with a healthy inventory size to start. Then make sure you continue adding pieces regularly for the first few months. This will help potential customers take your business more seriously.
5. Master Photography
To have your jewelry business stand apart from others, you'll want to master photography. Clear, well-lit photography is an important skill to perfect even if you plan on selling locally only. For instance, if you sell at craft shows exclusively, you'll still want to maintain a social media presence at the minimum so you can connect with previous and potential customers.
6. Get Social for Free Marketing
Take some free online courses and do what you can to take your social media presence to the next level. It used to be having a fantastic website and blog were the primary way small jewelry businesses marketed themselves. Nowadays, you can get away with not having a website and just maintaining a consistent social media presence.
The two words to remember here are consistency and cohesiveness. Keep your feeds consistent with your brand and limit personal posts. Also, make sure you post at least a few times a week so you don't lose touch with your target audience. Schedule posts in advance and take advantage of free tools if needed.
We hope these tips helped you get inspired to start your own jewelry business. Good luck and happy creating!