Increasing awareness of fashion and style has made jewelry making business an immensely potential business opportunity for startup entrepreneurs. A person having a creative mind, knowledge about current fashion trend and passionate about jewelry can start a jewelry making business. One can start this self-rewarding business home-based with comparatively low startup capital.
Skill Required for Jewelry Making Business
It is advisable to have some special training in jewelry making techniques before starting the business. Turning the hobby into jewelry making business is demand some professionalism. Various online jewelry making tutorials are available on the internet. Also, you can have training in person from any fashion institute.
Research for Jewelry Business
Go for an intensive market research about the trends. As this is a lifestyle product you have to be innovative and fashion trendy.
Plan for Jewelry Business
Create a business plan for your jewelry making business. Calculate the startup budget and promotional strategy. Determine what type of jewelry you will be making and offering to the customers. Choose a trendy, memorable, easy-to-spell name for your brand.
Design-Supplies for Jewelry Business
Create innovative designs for your jewelry items. Search for suppliers. You will need to have some basic equipment like chain nose pliers, wire cutters, round nose pliers, flat nose pliers, nylon tipped pliers, toenail clippers, ruler etc. Also, you will need to have different wires, beads etc. Check your local wholesale suppliers and also online. Gather the supplies as per your requirement.
Pricing for Jewelry Business
Pricing is an important factor. Only by fixing right pricing you will be making money out of the business. If you want to go for wholesale supply determine the wholesale rate.
In jewelry related business, it is important to make your jewelry presentable. Use innovative packaging wrappers and boxes. Also use price tag of your own brand.
Promotion Idea for Jewelry Making Business
You can start selling within your community, friends, and family. You can go for establishing your own jewelry shop. Attend trade fair and crafts fair to showcase your jewelry and to build a brand. Also, you can make contracts with local jewelry retailers. Make an online presence of your jewelry making business.
You need to create a website with product detail and price. Mention each and every little creative part on there to show the customers, your jewelry is different from others. Also, you can keep customized jewelry making option there. You can start online selling by registering e-commerce sites like Snapdeal, Flipkart.