The jewelry trade involves the buying and selling of precious metals, gemstones, and other materials used in creating jewellery. The history of jewellery making stretches back to the earliest human civilisations, with ancient burials showing adornment made from sea shells, animal teeth and claws, and even beads of twine. Jewelry makers have been in demand throughout history and there are many options for those interested in entering the business.
The simplest type of jewellery business is to buy raw materials and sell finished pieces, for example rings and necklaces. This can be done either as a hobby or to make some money, with the aim of turning over profits. The jewelry maker will need to keep accurate records of purchases and sales, obtain a resale certificate and purchase supplies at the wholesale price. Alternatively, the business could focus on design only, with finished pieces created by hired production staff.
Another option for those looking to enter the jewellery trade is to join a direct marketing company such as Stella & Dot, which compensates its sales agents for every piece of jewellery they sell. This can be an excellent opportunity for someone who wants to run a jewellery business but is not comfortable with all the hands-on production work.
Attending a jewellery trade show is one of the best ways for a store owner to explore all areas of the industry, from finding new suppliers to learning about new seasonal trends. These events typically attract thousands of buyers, retailers, and designers, so the opportunities for networking are considerable. Seeing suppliers in person can also help a store owner build trust and loyalty, as they will be able to see the faces behind the brand.
It’s important to remember when purchasing trade jewellery that artisan communities are often very poor and must rely on this income for basic living needs. While it is understandable to want to buy the cheapest possible jewels, a savvy jewelry buyer will take this into account and try to negotiate prices or trade items where appropriate.
There are a number of options for those wanting to start their own jewellery business, including creating an online shop or setting up an Etsy or similar site. There are also many markets and fairs that specialize in artisan jewellery, which can be an excellent way to test out your ideas and reach potential customers. However, it’s essential to research these events thoroughly before committing to sell your designs, as not all are created equal and some will have more competition than others.
It’s also a good idea to keep in mind that selling jewellery at retail prices is not an effective strategy, as the jeweller will never make a profit on the sale of these items. When pricing your products, it’s important to take into account the cost of all materials, a fee for labor (your time shouldn’t be free!), shipping costs, and any fees charged by the website or marketplace.
