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Archive for May 11th, 2010

Selling Jewelry For Profit

Tuesday, May 11th, 2010

First, determine what kind of jewelry you intend to sell (fine jewelry or costume) or whether you will have a handmade collection or buy wholesale from a third party. If you’re undecided, then it won’t hurt to try a mixture of both to start.

As there are many crafters starting their own successful jewelry businesses, read up on how they got their start and what you can expect down the road. Take account of various resources they have used as well as general selling methods that work best. Also note which kinds of pieces are best sellers and keep abreast of trends. If you have a design or idea that is nothing like anything out there, then you may want to talk to an intellectual property attorney as to whether your ideal is worthy of getting a trademark or patent. This can be costly but will save you a headache (and possible court costs) for your jewelry business in the long run.

Before spending any money on advertising, keep in mind the demographic you desire as your customer base. Will you aim towards the mature woman or is your audience between 11 and 15? This will help in creating your business and marketing plans as well as the kinds of venues where you intend to sell. Customer information (even if speculated) is needed by banks and other financial institutions to determine if you qualify for a business loan.

If uncertain as to whether your line will be successful, then definitely start small in a home office or studio. Most jewelry designers chose to start their business by selling online and open air markets as the fees are low to get started as well as maintain. Others have private home shows of their jewelry line and build a base form there. Or you can become your own advertisement by wearing your pieces to work and other social gatherings.

Starting a jewelry business takes time as it is more than just keeping up with trends. If you choose to make your own, this can be time-consuming.

You also have to promote your business and guarantee a quality product. This entails finding the right markets in which to advertise, making sure that your presentation is as close to excellence as possible, keeping promotional materials nearby and if you choose to have your jewelry sold by mail order, knowledge about shipping procedures is very important.

Otherwise, this is one of the most fun businesses a person can get into as jewelry is one of the most popular types of functional art.