Handmade jewelry is jewelry that has been assembled and formed by hand rather than through the use of machines. As the name suggests, it is a collection of jewelry which are handmade, and thus nurtured with care and passion. Each piece of art becomes priceless with tremendous effort of the expert employees.
How to start a jewelry business?
The enjoyment of creation lies in sharing your piece of art with the world. Jewelry designers love to give shape to their out-of-the-box ideas to the extent of their creativity. But moreover, they believe in understanding the needs of the clients more.
Women of today’s era believe in two big F’s, those are power and passion. They know very well that if they want to be in power, they have to become confident and smart enough to handle various kinds of situations in every field they have a concern with. Sometimes in respect to get power, and looking confident works as magic for women.
With a sober, decent, confident look a woman achieves whatever she wants in life. Here comes the importance of looking better and different every day by wearing handmade jewelry.
Handmade jewelry is unique, elegant, and classy, hence enhances the beauty and brain of an individual lady.
So as jewelry designing is one of the most profitable businesses in the world, starting up with a handmade jewelry business forges new connections with customers.
If you consider yourself as a jewelry designer first, then an entrepreneur; to get quick success in this business. Understanding of the latest trend in the fashion jewelry business paves the way smoother for a jewelry design business.
Learning how to start a jewelry business is not much difficult. Basically, it’s a matter of time, effort, and technicalities.
Let us break down the steps of starting up a handmade jewelry business for you:
- Make a business plan
- Plan a budget for your business
- Learn from the competitors
- Make your business legal
- Separate business account from personal finances
- Plan funding for the initial investment
- Find suppliers and create your jewelry
- Sale your jewelry
- Establish your jewelry
- Start promoting your jewelry
Make a business plan
A business plan is a scope for entrepreneurs to chalk out their thoughts for their business, start to build a rock-solid marketing strategy, planning about resources and finances. This way the business owners target their business goals and create a plan about how to achieve the goals as early as possible.
Regarding your handmade jewelry business plan certain questions may arise in your mind, if you get the answers your planning would reach the target to succeed.
- Are you selling trendy pieces of art?
- Will you operate from home or from a rented space?
- What sort of employees do you need to hire?
- How will you price your products?
- Is your jewelry unique?
- Are the jewelry pieces different from your competitors?
- Who is your target audience?
- How do you plan to market your business?
- How will you sell your products?
Your business plan is a document with pre-assumptions. Following the plan you will gradually understand the loopholes of it. You can always modify it according to your need later to get a fruitful success. After having hands-on experience in the handmade jewelry business you will understand the demand of the jewelry more with time.
Plan a budget for your business
Planning a budget comprises basic start up costs for tools and equipment; materials; licenses; permits; hiring office space; hiring staff; and other daily expenses and so on.
After the initial investment, you have to plan the further investment according to the fund left for launching and operating with the brand. Also for more guidance you may look out for small-budget businesses which are available online.
Learn from the competitors
There are plenty of similar competitor sites present online. The focal point to check out the sites are jewelry businesses that you admire and would like to follow in some way.
Some vital points arise on your mind while doing so, like:
- What is their point of view?
- How has it become successful?
- Who is their target audience?
- What are the marketing tactics?
- How do they sell the jewelry?
The above points will give you a vast idea about the way to go for business. This sort of market research will surely help you a lot to fix the feasible price rates for your jewelry in comparison to others.
Make your business legal
You need to legalize your business to run your business in a complete legal procedure to avoid penalty. If you plan to work from your home, check with local office about licensing and permit requirements for home businesses.
After creating your business name, next decide on a business entity and register your business accordingly with the state. The easiest way is to file your business name as a “Doing Business As”, until you are operating your business under your legal name.
Separate business account from personal finances
It is always a safe practice to separating your business and personal finances. It is important for a number of reasons like:
For starters it will always be safe to keep personal finances apart from the business-related legal issues.
It will simplify your tax processes.
You have to have a business bank account that ensures you only to deposit business earnings into that account. You may also consider signing up for a business credit card, for using for business’s daily expenses. Depending on the card you can earn valuable points, cash back or rewards that you may put back into your business.
Plan funding for the initial investment
The basic first step to be taken by an owner of a business is investing money towards a business. Securing a loan is not an easy job to get, still owners try their best to get a loan from local banks or from online lenders. If there is no financial history, lenders have no valid reason to determine a new business’s risk factors that leads them to confusion regarding credit decisions.
Because of that reason mostly the initial investment for a handmade jewelry business has to come from the owner’s pocket. Many new business persons build up their personal savings, take loans from friends and family members to start up with their dream business come true.
Find suppliers and create your jewelry
To start up making jewelry the first and foremost criterion is to ask for jewelry designers about trustworthy wholesale suppliers. There is also another way out to get this done by doing research on it online and offline. It can be useful to get a reseller license so that you can pay local sales taxes while buying in bulk.
Creating jewelry requires hiring expert artisans perhaps recommended by known people from your close relations like family or friends. They must be trustworthy and skilled enough to depend upon. With their brainstorming thought process and hard work they come up with ethnic, elegant, master pieces of jewelry. Also, while customizing the designs, they have to follow the client’s requirements according to their interest in jewelry.
Sale your jewelry
Regardless of which platforms you are using to sell your jewelry online, it’s important to appoint a professional photographer prior to selling your jewelry, as displaying the jewelry eases the pavement to sell your jewelry on a large scale. So quality photos are an integral part of creating a trustworthy brand.
Let your sales grow starting with your family and friends. Once they start appreciating your jewelry, it brings recommendations and increases the rate of reselling. Social media influence also creates a great awareness of your jewelry. If you make and distribute your identity designs it spreads the design awareness more.
Establish your jewelry and promote your business
You should start establishing your brand identity and implement marketing strategy. Creating a logo is a great starting point, although it is difficult to establish your business aesthetic, but hiring a good logo designer could solve your problem concerning this.
As letting people aware about your business, promote your business online and offline in every possible way.
How we have become one of the best sellers of handmade jewelry in India?
Being one of the best handmade jewellery manufacturers in India, Wardrobe makes jewelry with innovative ideas to be popular among all generations.
Our exclusive collection of various kinds of handmade jewelry such as
- Terracotta pendant sets and earrings
- Jute pendant sets and earrings
- Jute pendant sets
- Fabric jewelry
Are crafted with care by the expert artisan’s day and night hard work. They literally nurture the designs right from the thought process till the ultimate product completion.
What makes us best seller? We communicate with each individual customer with the prompt reply of all your queries. If the customer understands our label of quality work towards making fashion handmade jewelry, half of the work to become popular among women is done. Next responsibility is to give shape to the designs of innovative different ideas to be one-of-a-kind handmade designs. We even customize your choice of handmade designs to fulfill your dream of making your idea turning to a masterpiece of art.
Moreover we have become best sellers of handmade jewelry in India, with time and precision of our artisans.