Researching and Business Planning
Starting a handmade jewelry business is an exciting prospect. However, if you are going to successfully sell handmade jewelry, then there are a number of things you need to do before you open your business to customers. As well as having a strong line of designs and jewelry making techniques (how you will make your jewelry) there is other preparation work you need to complete in order to get on the road to success. While starting a handmade jewelry business may seem like an attractive possibility and one that is relatively easy to do, starting a successful jewelry making business takes planning and research. Whether you are planning this as a part-time job, a way of making a bit of extra income or whether this represents a new career, continue reading to find out what you should be doing before you start your handmade jewelry business.
Before you go any further, take the time to research the market well. Look at handmade jewelry that sells well. Look at the price points that their handmade jewelry sells at. Good research will help you determine how you should price your jewelry. You can find a lot of free information online to help you get started by checking well-known retailers, or even Etsy shops.
Getting Feedback for Your Jewelry
Getting good feedback on your handmade jewelry is essential. While family and friends may have raved about your jewelry, the fact that they may not want to hurt your feelings by giving negative feedback may give you a biased opinion. Take your samples to some craft shows as this is the best and fastest way of getting feedback from customers. You can also register at some handmade jewelry forums and ask other jewelry makers’ opinions. Forum members will critique your designs and give you some tips as to how to improve your jewelry creations. Listen to the customers’ feedback and see what they prefer and how you can improve your jewelry. While criticism of your own handmade jewelry can sometimes be hard to take, remember that the feedback will help you create a better business.
Launching Your Handmade Jewelry Business
Once you have completed your research and received some feedback on your work, it is time to start preparing a collection of jewelry to launch. Your planning should include potential designs, techniques, and materials that you will need. You should create some samples of designs first so you can see how long they take to make and also identify any production problems.
Creating a successful jewelry business, just like any other goal you hope to accomplish, requires planning and an open mind. In order to become the best business you can, you will have to determine the number of factors that will help not only in developing your product, but also creating a community that enjoys your jewelry pieces. For example, the following factors should be kept in mind before you commit to this new line of business:
1- Know your customers, who do you plan on selling to, who is your potential buyers?
2- Do you plan to sell your jewelry through online market-places. or a more physical market?
3- What makes your designs different than others’? Who are your competitors and what can you do to set your handmade jewelry apart?
4- What will be your price range? Will this price point turn a profit?
5- Last but definitely not least, do you have the time to create and advertise your handmade jewelry?
Good luck with your new business venture 🙂