If you have ever considered setting up and starting your own business, and you have considered jewellery making as an option, then you are in the right place. This article will provide you with an overview of how you can turn your hobby or interest in making fun and vibrant jewellery into a successful (and profitable!) business.
Find your calling; jewellery is a broad term and covers a variety of different types and categories of products. A few different areas to consider focusing your product line or product lines are as follows:
- Costume jewellery; more contemporary, inexpensive jewellery and accessories. This is often a more creative space and can be items which are chicer and on trend, or more abstract, or anywhere in between,
- Fine jewellery; if diamonds are your passion and your best friend, fine jewellery may be the space for you. These items are typically more expensive to make and sell for a higher price point as well. Think engagement rings and diamond earrings, etc.
- Unique jewellery; some jewellery items may sit between fashion and fine jewellery. Consider gemstones, unique stones or mineral pieces, etc. There is undoubtedly a market for these unique and in between pieces, as well.
- Market research; as with any business endeavour, it is essential not to forget or underestimate the importance of market research. This will undoubtedly help you better understand your audience and better design your business and products, to meet the current and ever-changing dynamic demand. Market research is also a window into what is trending, and what your competition is doing, as well.
- Create an image for your business; once you know what you want to make and how you want to make it, whether it is gemstone rings or choker necklaces, and you understand your competition, target demographic and the current trends in the industry, it is time to build your brand. Your brand is important, as it is your identity as a company.
- Time to get started; once you have created your brand and have a vision for your organisation, it is time for the real work to start. Product design is one crucial step. This can be done using technology, thanks to the continuing advances in software which enable us to design jewellery without ever having to touch any actual materials. You can even leverage technology and apps to manage health and safety risks. Deciding on where to source the materials for the jewellery is another critical decision. One trending and crucial issue for many consumers involves the ethical sourcing of products and materials, so this is something to consider.
- Developing your team; are you a one-man show, or are you going to need help in designing, marketing and selling your products? If you do require assistance, will you be using friends and family or requesting expert opinion?