If you love jewelry and enjoy creating your own designs, consider starting a small jewelry business. You can sell your products at local jewelry stores, online marketplaces and through a website. When you choose to sell your jewelry, focus on high-quality images and compelling product copy. You can also set up a jewelry studio at your home or find co-op space with other designers. If you’re a beginner, start with social media to quickly build a customer base and validate your niche.
If your jewelry is made with gold, silver or other precious metals, buy them from reputable wholesale suppliers that prioritize fair trade practices and ethical sourcing. These suppliers may be able to offer you bulk discounts if you purchase in larger quantities. They should provide you with a certificate of authenticity for each piece and deliver your orders on time.
You can also buy trade jewelry from nonprofit organizations that work directly with artisans and other producers, ensuring fair wages, safe working conditions and an authentic, handmade piece. These organizations can help you select items based on your preferences and style, while promoting the work of artisans in developing countries.
Many jewelry manufacturers have sales representatives who visit storefronts and showcase their latest collections. You can also find them at trade shows and events. In addition to selling finished jewelry, they can supply components and materials, which you can assemble into a custom-made jewelry item. Establishing relationships with these manufacturers ensures consistent supplies, competitive pricing and access to new jewelry trends.
If you’re an experienced jeweler looking for a way to expand your business, attending a trade show is a great opportunity to connect with other professionals in the industry. You can also learn about new trends and industry issues from the panels and workshops hosted by these events.
The quality of the craftsmanship and design of a piece of jewelry is a key factor in its value. Jewelry makers who are able to produce pieces that match or exceed the original piece’s quality will command higher prices for their jewelry. To make sure your jewelry meets this benchmark, you must use only the best stones and mountings, such as platinum.
You should only purchase diamonds that are GIA-certified, which means they’re verified as genuine and have been thoroughly examined for flaws. Purchasing a diamond with a certificate can save you money in the long run. You should also look for a reputable jeweler who will appraise your jewelry before buying it.
Jewelry stores typically purchase products from manufacturers through their sales representatives, at trade shows or through e-commerce platforms that allow the designer to list and sell jewelry directly to consumers. Alternatively, you can use an online marketplace like eBay to purchase items from jewelry sellers at auctions and other events.
When purchasing jewelry for resale, you should aim to pay no more than 2-4X the wholesale cost. Otherwise, your jewelry won’t sell. Old inventory is a boat anchor that pulls your store underwater financially, so it’s important to create a rapid reorder system and only purchase fast-selling styles.
