As handmade jewelry artisans we like to focus on making handcrafted jewelry, not so much the selling of it. But in order to continue to making our artisan jewelry and doing what we love, we need to be able to sell it at a price that we make money. It is very important that handmade jewelry artists learn how to price their handmade earrings and handmade bracelets correctly to be able to sell handcrafted jewelry quickly and at a profit.
There is no single approach to pricing your handmade jewelry. What you will be able to sell your handcrafted jewelry for depends on a variety of factors, such as your ability as an artist, the demand for your style of work, how well established you are and many more. If you are just starting out or if you have been creating handmade jewelry for a while and you are looking to start selling it, there is no need to worry about all the factors. Focus on the cost of materials and the time it takes to create each handcrafted jewelry piece. There are strategies and pricing structures that you can put in place to build a customer base and gradually increase the perceived value of your handmade jewelry.
We would all like to start out selling our unique handmade jewelry pieces for hundreds of dollars but the simple truth is that without demand or a designer label it is not likely to happen. However, as a new handcrafted jewelry artisan just entering the marketplace you have the unique opportunity to establish buyers who can grow with you, perhaps into avid collectors of your work. And the simple fact of the marketplace is that collectors mean demand and demand means increased sales as well as heightened prices for your work. But before we get too carried away, take a step back and look at how we can price our unique handmade jewelry to get to this point.
As an entry-level handcrafted jewelry artist, you need to look to sell to entry-level buyers, which will inevitably mean entry-level prices. And again, these prices can depend on the particular market you are looking to sell to and the type of unique jewelry you are trying to sell. You will need to do some research, find some similar handmade jewelry artisans in your area or similar handmade jewelry pieces for sale, and decide what the common price points are. It may be very low, under $20 or for more elaborate styles above $50. Either way, you need to find a reasonable price point to start with depending on the cost to make the handmade jewelry piece and the amount of time it takes to create. Nothing is written in stone, if you find certain handmade earrings and handmade bracelets are selling quickly, you could raise your average price on those items and lower the prices on the slower selling pieces.
Once you have sold your first few handmade bracelets and handmade earrings, you should be starting to create a customer base. This does not necessarily need to only include people who have purchased your work, you may have come across people who are genuinely interested in your work that you could include in your customer base to market your handcrafted jewelry to in the future. The idea here is not so much to focus on selling your handmade jewelry now, but to establish ways in which you can continue to sell your unique jewelry in the future.
Make sure you align your pricing with the current target market you are looking to sell into. Knowing who your customers are is very important. The age range directly influences pricing strategies for your handmade jewelry. If you are making funky, bright colored handmade bracelets for a younger person then your prices need to be lower than if you are making sophisticated handmade earrings for the 35 – 50 age range. Younger people usually have less money so you need to make the price reasonable.
You do not need to continue selling your handmade jewelry at the initial price points you establish. Remember that as your customer base grows larger and with customer loyalty for your handcrafted jewelry the demand increases, your average price point for your handmade earrings and handmade bracelets can also increase. Also take into consideration that the more experience you have making handmade jewelry the quicker and more cost effective you will be able to create each handcrafted jewelry piece. Once you have a great line of profitable handmade jewelry you may want to expand into the handmade wholesale jewelry market and begin to wholesale jewelry to gift stores and handmade shops.
If you want your handmade jewelry business to succeed then first of all your handmade earrings and handmade bracelets have to be exceptional. The quality of work has to be better than other handmade jewelry artisans and the components have to be unusual and high quality also. Your designs have to be unique and creative but most of all the colors and textures have to be balanced and complimentary. Your handmade jewelry has to stand out from the crowd and be extraordinary. People are not going to buy handmade earrings and handmade bracelets if they could make it themselves.
Once you have established a unique line of handmade jewelry that sells well with a variety of designs and items you may want to begin to sell at wholesale jewelry prices to retail stores. Most importantly for the wholesale jewelry business you must be able to make your unique handcrafted jewelry quickly, with high quality and sell at a reasonable price.
There are a number of ways to begin selling your handmade jewelry wholesale. Many times you will find that retail gift store owners attend local art and craft shows looking for new handmade jewelry lines. Wholesale gift shows are a great way of meeting buyers from regional markets but tend to be quite expensive when starting out. Selling your handmade jewelry on consignment is a good way to become established.
When you sell on consignment you leave your handmade earrings and handmade bracelets on display in a store, the store collects the money, then pays you after the handcrafted jewelry pieces are sold. It is an advantage to the store because they do not have to invest in buying stock nor are they stuck with anything that does not sell. You have the advantage of all their customers looking at and buying your handmade jewelry! Consignment is a good way to get your foot in the door. Once they see that your handcrafted jewelry is selling well hopefully they will buy outright at wholesale jewelry prices.
It is best to do some investigating before you approach anyone about buying your handmade jewelry. Actually go to a store and look around to see what they sell. If it is the kind of store that your jewelry would stand out, ask the sale clerk when the owner or manager is available. Be confident and show some samples of your best selling handmade earrings and handmade bracelets. If the manager is not available ask for a business card, then later call to set up an appointment with the owner or manager. Slowly travel to around the area and sell to all the best stores in the area.
When consigning jewelry it is your responsibility to keep the display full and dusted. Perhaps you could make a routine of checking on the stores and their stock every two weeks. You will want to take away items that are not selling well and make sure there is extra stock of the best selling designs. It is important to keep records of what jewelry you leave at the store and what jewelry has sold since the last time you were in. Carry extra stock with you at all times so the display is always full. Most stores will keep track of your account and are often quite surprised at how well your handmade earrings and handmade bracelets have sold.
Needless to say every jewelry artisan would prefer that store owners buy their jewelry outright. Consignment ties up a lot of stock with no money in your pocket until after the sale. It might help to offer incentives like free jewelry or bigger discounts if they buy outright.
Sometimes there are accounting problems where your records and the records of the store do not match. When this happens you could run into trouble getting the store to pay what they owe. Usually it is due to shop lifting, they did not sell it and it is not there. Many store owners will only pay what is in their records. You must be careful of the type of store and where the display is located so that shop lifting does not occur.
Although you have to be careful when putting your handmade jewelry into a store on consignment, we have had these stores become very good wholesale jewelry customers. It is hard for a gift shop owner to buy handcrafted jewelry outright without any knowledge of your product. Once they have the experience of how well your handmade earrings and handmade bracelets sell they are more willing to purchase the best selling designs as wholesale jewelry.
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It is easy now for people to earn extra money by starting handmade jewelry business online. The World Wide Web has opened many doors for anyone who wanted to have their own handcrafted jewelry business. Starting a website to sell handmade earrings and handmade bracelets is simple to do but as with all businesses, it requires time and effort for anyone to build a successful online business. There are many benefits to having your own handmade jewelry website.
The savings that handcrafted jewelry artisans get from doing business online are one of these main advantages. You do not have to rent a store or an office to run your handmade jewelry business. Also, it is quite easy to maintain a handcrafted jewelry website than to maintain an office or store staff. As we all know, being on the internet is like selling your handmade jewelry in many places at all times of the day around the world.
Online handcrafted jewelry sales are easy because you can use PayPal or any other online payment method. A person does not need cash to purchase your handmade earrings and handmade bracelets. A credit card is more than enough to handle the payment issues.
Any business needs to be promoted. Online advertising is less expensive than other traditional methods. Many services are freely available and put your handmade jewelry in front of millions of people every day. Keep in mind that once a person sees your advertisement, they can send it to their friends and their friends can spread it to other people. The possibilities are unlimited if you can catch the attention of the correct target market for your handcrafted jewelry. Your satisfied customers will recommend your handmade earrings, handmade bracelets and handcrafted necklaces to other people and we all know that happy customers are the best advertising.
There are many tools online to be utilized for your online handmade jewelry business. Online business meetings and services can be done through video or audio call. Conferences can be easily done through the chat messaging and electronic mail. Keeping in contact with customers is easy to do and fun as well with social networking websites. The more involved you are socially increases the chances of more people seeing your handmade earrings, handcrafted necklaces and unique bracelets which will increase your online sales.
A regular business has business hours. An online handcrafted jewelry business is open 24 hours a day, 7 days a week. Customers and visitors can always reach your business anytime. It could be a simple chat message or video call that will sell your handmade jewelry.
Whether you are a mom or a student having this kind of work at home business is very advantageous for anyone. It will just take research, effort and time to know what kind of online services work best to promote your handmade jewelry website. Training for online business can be also learned from many informational websites.
Someone who wants to start a handcrafted jewelry business online does not need to spend much money. It does require time to see the benefits of social networking but it can increase sales of handmade jewelry dramatically. Because the overhead expenses are low you can pass the savings on to your internet customers. Consumers that get big savings make them want more and will increase your sales of handmade earrings and handmade bracelets.
Learning everything that you can about online advertising can greatly help your handmade jewelry website promotion efforts. The more you know, the more you can take advantage of all the opportunities available to increase your website visibility online.
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