Can you learn how to start a jewelry business in a brief article? Probably not, but in this article we are going to review with you some of the most important steps to take if you want to learn how to start a jewelry business that succeeds! With the rise of websites like eBay and Etsy, it is easier than ever to “setup shop” and get to work selling your handmade jewelry designs. Of course, hanging out your electronic shingle and succeeding in making a business out of it are two entirely different things. That means that learning how to start a jewelry business has to start with several practical steps.
The Key “First Steps” in How to Start a Jewelry Business
So, what is the very first thing you need to do when you are wondering just how to start a jewelry business that succeeds? It is actually not as simple as it sounds. You have to discover what buyers want. Yes, you have these amazing ideas in mind, and you love the looks of some of your first pieces or styles, but you have to be certain there is a large enough market. Thus, your first days as a successful jewelry designer, maker and seller will be focused on something a lot less creative – market research. However, doing that preliminary work also lets you look at the best places to be selling in your work too. It does not matter if you intend to sell exclusively online, in the real world, or both – you must discover if there is a market for your work, where that market exists, if you can easily and affordably gain access to it, and just what is in the highest demand at the current time. Online marketplaces such as eBay, Etsy, and ArtFire rate highly. So too do real world spots like craft fairs, flea markets, and gift shops. Your own website may be in the plans as well, and this preliminary research is essential to all of your future efforts.
If all goes well and you discover that your ideas or designs will have a definite market, you then need to take pricing into consideration. After all, it may be a creative endeavor but you are looking into just how to start a jewelry business – and that means that you are looking into the business end of things. What are people paying for items similar to your? Will these prices cover your costs and expenses while giving you the profit you need? Remember one key tactic when doing this step: “Pricing an item too high will discourage customers for obvious reasons, but pricing an item too low will decrease the perceived value of a piece.” (wikiHow) So, be realistic about your pricing model and calculate the true wholesale value and then calculate what you should be earning for your labor, for the overall quality, and for the actual demands in the market. Try to be competitive without undercutting the value of your artistry and time.
Finally, you will want to use your time spent on this preliminary research to begin gathering a list of “keywords”. These are terms used by buyers when searching for items just like yours. As a prime example, you may make unique charm bracelets and so the term “charm bracelet” is obviously one of your keywords, but you may need to also include terms like “vintage”, “silver”, “custom”, and so on. This is the time to develop lists of the most competitive keywords and then use them to inspire your marketing text and even your future designs. For example, if you see a trend in keywords used by your competitors, but which don’t yet apply to your work (such as “raw semi-precious stones”) consider it a hint of which direction you might want to go with your designs in the future.
These three basic steps will help you to start your handmade jewelry business and ensure you get off to the strongest start possible.
WikiHow. How to sell… http://www.wikihow.com/Sell-Homemade-Jewelry-Online