Thursday, July 20, 2017

How to Start a Jewelry Making Business

I have had several people approach me with questions about how to start a jewelry making business. Although my current business interest is supplying jewelry-making components, I do have a lot of experience and history in starting businesses in general. So I have adapted that knowledge into a guideline that might help you, if you are interested in starting your own.

The first issues facing any prospective business owner are, of course, the initial decision and finding the drive to follow through with it. Owning and running a successful business is hard work, so your major challenge is to understand the commitment needed to make it happen.



My next question is, what kind of jewelry do you make? Do you specialize? Do you make necklaces and chokers, or bracelets and anklets, or do you create sets that coordinate with each other or that make fashion statements?

Decision #2 - What do you want to make to sell? Will you concentrate on a type and style, or do you plan to make a variety of pieces?

Decision #3 - Will this be part time for some extra money or are you planning to build a business that will be a source of income? Either way, where will you work and how much time can you invest? Do you have money for start up expenses, supplies, for help and for advertising? Where will you sell your creations and do you have a marketing plan?

Before you can actually set your decisions into motion, you'll need to research the legal requirements for the type of business you create. The government will have its hand out for income tax and you will need to collect sales tax required by each state on things you sell. Your local authorities also may require licenses and insurance, especially if you have a store where people will visit.

This list of basics is far from complete, but at least it will give you something to think about.

If you need some guidance with design ideas go here.

I would love to hear about your process and your progress. What you share with me will also help your contemporaries. You're not in this alone. If you have questions or comments, you are always welcome to contact me.
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