Great tips for starting your own jewelry business

It's good to do a little research on good tips before starting your own business. I've compiled a list of some tips I've gotten from several sources that are useful for those who want to start their own jewelry business. Some of these can be for any business in general and some are more specifically for jewelry businesses:

- Make a Jewelry Business Plan

The Home Jewelry Business Success Tips website states that "a jewelry business plan can boost your success by helping you organize and analyze your goals and define how you'll achieve them. It also encourages you to consider your plan of action for turning your jewelry business dream into reality." Since there are many people hoping to sell jewelry through a home-based jewelry business, having a written plan ensures being set apart from the rest. Include goals in time-frame specific entities such as how much inventory to build up in a specific time frame and projected sales numbers and how you will reach that goal. 

- Buying Jewelry to Sell

Purchase jewelry from wholesale jewelry companies. Create a diverse inventory to suit a variety of customers. Jewelry items may include earrings, necklaces, bracelets or jewelry sets with matching earrings and necklaces. My Accessory Business offers wholesale priced jewelry in sales kits that include a variety of jewelry to perfect to re-sell. www.MyAccessoryBusiness.com

- Pricing Inventory

Pricing of the inventory in a jewelry business is directly tied to the business's success. Price pieces according to the price your paid for the piece. Avoid pricing jewelry too high--a common mistake in home-based jewelry businesses. Price the piece competitively, but allow enough room for profit. On the other hand, jewelry that is priced too low may give off the wrong impression to consumers. Consider the "projected value" a piece of jewelry has on a customer to further determine pricing.

- Get the word out!

Create fliers, brochures and business cards to give out to those who might be interested in purchasing from your in-home jewelry business. Include pictures of your samples in on your fliers and brochures. Ask your friends and family members to tell others about your business. Many of their friends and coworkers may be interested in unique gifts.

- Online sales vs. store sales

There are many ways in which to sell jewelry. The Internet is a growing force in the jewelry business world, but home "parties" where the seller presents jewelry to families and friends are also common. Flea markets and craft fairs are another venue for jewelry sales, as are local consignment shops. Pick a venue that suits your business plan and model, and take into consideration the amount of profit to be made from each. Flea markets and fairs often charge a fee for the space rental, and consignment shops often take royalties off each product sold. 

In order to stand out and make a dent in the jewelry business, it is wise to set up some kind of online storefront where people can submit orders. This increases the number of customers able to be reached, but it also creates the need for a bigger inventory. Unless you have a sizable amount of jewelry for sale or have an abundance of labor to create it for you, do not open an individual website, as this can lead to customers being disappointed. Online consignment shops may be the best option for those with little inventory. The cost of creating a website ranges from free (if you do it yourself) to hundreds of dollars. If you open a web storefront, be sure to use a quality professional camera to take photos of your creations. Consider having a model wear the pieces rather than just placing them on a blank white background. Experiment with different photo techniques for dramatic effects that can greatly increase web jewelry sales.