The jewelry trade can be a lucrative industry. But it can also be a risky one, especially for new businesses. Fortunately, there are several ways to enter the jewelry industry without breaking the bank or putting your life on hold.
First, you need to figure out what type of jewelry you want to sell and how you plan to market it. This will help you determine whether selling your jewelry online is a good idea for your business.
If you’re looking to sell your jewelry online, you can choose from a number of sales models. Some of these include:
If you have a high-end piece of jewelry that you no longer wear, you may consider selling it to a consignment shop. This is a great option for jewelry that’s in excellent condition and can easily be resold.
Keep in mind that you’ll usually make less money with this method than with other options, but it’s an efficient way to get rid of jewelry and make some quick cash.
A consignment shop will pay you a percentage of the sale price for your item, depending on how much they think it’s worth. You’ll need to read the fine print closely to ensure you understand exactly how the process works and if it includes store credit or not.
The store may also require you to buy something in addition to your old jewelry, which can raise the price of your piece. This is another option for worn or vintage jewelry, but it’s not a great solution for rings and other items that don’t have a current style.
If you’re looking to sell your own jewelry, you can sign up with a wholesale dealer. These companies buy jewelry from designers and sell it at a lower price to retailers. Some of these dealers can be found in your local area.
They’ll also offer you an upfront discount. This can be a great way to start a small business that will gradually grow.
You can also find a supplier to supply your business with supplies, tools and equipment. Some designers share space and equipment with other creatives or create a co-op studio to reduce costs.
If you are looking to expand your jewelry business, trade shows are a great way to meet new buyers and potential vendors. You can also meet with existing clients and build brand recognition among a broader audience.
Some trade shows can also be a great place to network and learn about new technology or marketing tools. The most successful jewelers take these events seriously, as they are an essential part of their overall business strategy.
It’s best to attend trade shows with a plan and with an idea of who you would like to meet.
You’ll be able to speak directly to jewelry manufacturers and other key suppliers, allowing you to vet their products and services in person. This can be a great way to save time and money as you look for new partners and distributors.