What the best way to start a jewelry making business?
(Indianapolis, IN, USA)
I want to start doing a jewelry making business. I'm trying to find the best way to get started. Any information would be greatly appreciated . Any information on how to get started where to get the beads and wire at? Anything information would be great. Thanks.
Jewelry making can be fun and very profitable BUT the best way to go about it is to narrow your market. By narrowing your market you need to find a niche or a particular style of jewelry and concentrate on only that to start with. AND your designs have to be original and unique
. If you try to cater to what everyone wants then your market is too open and competition stiff.
Everyone has different tastes and you won't be able to satisfy them all. So try to target the market that YOU would like to design your jewelry for. You should do a little market research
to get started.
As part of your market research you will need to know what is the profile of your typical customer (i.e. age, sex, location, interests, style, etc.)? In investigating your potential customers, you must consider WHO will wear your jewelry.
In finding the answers to these questions ask yourself: Who do you think would probably buy YOUR jewelry, or who are you making your designs for? For example do you want to reach sophisticated, or professionals? Young and funky? Everyday or party wear? What about bridal or prom jewelry?
Also in your market research you NEED to know what your competition is doing. You will learn more about what is selling where, to whom, and at what prices by carefully observing the competition. Once you have an idea of what you want to make, surf the net, attend as many shows, go to as many stores, and seek out as many other points of sale as you can
for the same style of jewelry as you wish to market. Then ask yourself: Can customers easily get what YOU make from someone else, perhaps at a lower price than what you would have to charge to make a profit? Is your jewelry unique or is the market already saturated with the style of jewelry you want to make? Like I said earlier COMPETITION IS STIFF so your designs have to be unique, they have to be different!
Once you have identified who your customers are, or to whom your jewelry is appealing, you can then cater to the taste of this typical customer and seek the best ways to reach him or her.
The next questions now are: How do you plan to distribute your jewelry to your customers (i.e. craft shows
, wholesale to retail outlets, specialty shops
, your studio shop, holiday boutiques, party plan
, etc.)? How will you inform customers
about your jewelry?
Once you have done your market research and know what style of jewelry you would like to make and how you plan on selling it, you now should prepare a business plan
. Your business plan is a formal list of ideas and thoughts of what you want to do. A guide to follow to turn your idea into a business.
You should try to buy your beading supplies wholesale. Your jewelry business cannot offer competitive prices
or become profitable unless you are able to buy supplies and raw materials at wholesale prices.
In finding supplies the best place to start
is Firemountain Gems
. The more you order the better price break you will receive.
I hope this answer gives you a brief overview. This whole site is geared towards designing jewelry and starting a home jewelry business. Read through the different sections as there is lots of information to help you get started.
Good Luck on your "Home Jewelry Business Journey"