Do you enjoy making a variety of hand-crafted jewelry? Are you thinking of starting a home based jewelry business now? Great!! Making and selling handmade jewelry is a nice idea to turn your passion in to money making venture. This is because jewelry is something that draws our attention easily and specifically for women, it is the loved one. Apart from gold and diamond ornaments, handmade jewelry is very much in fashion and many people choose to wear it because of its exclusive design and affordable price.
Huge Market of Home Based Jewelry Business
These days, the demand of handmade jewelry continues to rise by leaps and bounds. School students, college-goers, working women are the main consumers of these exclusive handmade items. As expected, there is a huge market for artificial women jewelry with the rise in popularity of e-commerce websites specially designed for crafters and artists. There are some craft-type people having special interest in making jewelry and accessories may start their own home based jewelry business and make a profit.
Some people try to start this business with just purchasing and selling jewelry items such as earrings, bracelets, necklaces etc. but it may not become as much profitable as they are expecting. It would be better to create own jewelry designs and work with them. The venture is very glamorous but has huge competition. So, creativity and business mind both are essential to make this endeavor successful.
Learn the Art of Jewelry Making
Jewelry making is an art that requires some fine skills and an artistic mind. You need not be a real artist like a painter or a musician, but still you should have a good taste when it comes to items like handicraft materials, designs and jewelry styles. It is a great job for women who have a special attachment with jewelry. Before you start your home based jewelry business, you should take some time to learn the art of jewelry making in a professional manner. There are many short-term courses that train people in making handmade jewelry. Attending such courses are necessary because it will teach you about stuffs that are required for making different types of simple and complex jewelry.
Practice Your Skills
Once you learn how to create handmade jewelry, you need to experiment your talent and technical abilities. So, make different types of jewelry at home and start using them. Ask your friends and relatives to evaluate your pieces and get their feedback. A positive review would make it certain that you are talented enough to start a jewelry business. You may also take orders from your friends or relatives and try to make designer pieces for them. This will help you in gaining confidence. You can also improve your work and speed by catering to the needs of your friends.
Fix Up Your Objectives and Develop a Business Plan
It is very important to set up a logical business plan for your home based jewelry business. It reflects how you want to proceed toward your mission. At first, do the market study to know the latest trends and then decide what startup materials you want to work with and what would be end products. Competition is the next important word that you can’t overlook. Keep assessing your competition worldwide. Depending upon your target market, fix the price range of your jewelry collections.
Plan Your Investment
Once you start making jewelry for others, you will understand the extent of money you need to spend on making each and every piece of jewelry. Accordingly you need to plan a budget for your home jewelry business. You should purchase your raw materials in bulk. There are many craft stores that allow jewelry makers to buy in bulk at a discounted rated. Before you purchase, enquire the rates from different vendors. Also enquire online. There are many online craft stores that sell raw materials for jewelry making at low prices. Sometimes you may have to buy from more than one store. Always choose the best and the most beautiful materials because you need to make your jewelry look as great as you can.
Pay Attention to the Legal Issues
There are some other legal tasks that need to be considered before commencing your jewelry business.
- Come to a decision whether it is sole proprietorship or limited company.
- Give a creative name for your home based jewelry business.
- Register your business in the local office of business registration.
- Find out whether you need a business license.
- Learn about your tax obligations.
- Open a separate bank account for your business.
Places to Sell Handmade Jewelry
As I said earlier the market of the artificial handmade jewelry is huge. There are so many online and offline marketplaces where you can display your products and make a good profit by selling them. One such place is craft fair. It is not always possible for a small home based business owner to invest money on setting up an online store in popular e-commerce platform. In case cases, you could reach to the customers by attending various crafts fairs. You may expect good sales of your inventories on different craft shows arranged in art gallery. You may take the advantages of organized jewelry parties to sell your handmade products.
Expand Your Business
Once you have started your business, you will be getting different types of customers from your neighborhood. You can expend your business with the help of online promotion. Advertise your business through social media networks like Face Book, Twitter and many more. It is an easy way to let others know about your business. Refer to online sources. In the internet there are lots of articles on how to start a jewelry business. Such informative contents can help you in developing your business and also improve your skills as a jewelry maker.