If you want to start your own home jewelry business, knowing how to make beautiful and original jewelry is not enough to be successful, but it’s a great start. While creating jewelry is an art form few people have the ability or passion to master, starting your own business is something anyone is capable of doing.
However, simply wanting to be your own boss is not easy. Keep reading to find out what you need to do to start a successful home jewelry business.
1. Build Your Brand
You might not think that a small home jewelry business would need to build a brand. But nowadays, branding is an important part of any successful business big and small.
A large part of branding is choosing a name for your business. This needs to be memorable, unique and reflective of your jewelry.
Remember the brand name needs to be able to be used on business cards, online as well as on any official documents.
You’ll also need a logo to promote your brand online and in your marketing materials. For more information on how to design a dazzling jewelry company logo, view here.
2. Become Legit
The next part of your journey towards becoming a home jewelry business is registering your LLC with your state. This makes you an official business recognized under the law.
It might be that you want to have your jewelry trademarked. This can be achieved through the United States’ Patent and Trademark Office.
It’s essential to carry out all of the bureaucratic and legal procedures to make sure you set yourself up as a legal business.
3. Get a Business Plan
Of course, the business plan might be as simple as – making jewelry. But without a clear and detailed business plan, you could find yourself in trouble.
After all, the finances of your business are really important. You need to consider various outgoings, such as the costs of registering your LLC and sourcing the raw materials to create your jewelry.
But also, it’s important to set business goals for your business. This includes – how many pieces of jewelry do you hope to sell this year? How much profit do you hope to make in your first year?
4. Set Up Your Workshop
You might have been making jewelry for many years as a hobby. If this is the case, you might have a workshop already.
But if you’ve been making jewelry at the kitchen table until now. It might be time to invest in setting yourself up with a quiet workshop so you can concentrate and store your materials and products.
5. Websites and Social Media
Nowadays even the smallest businesses have a website and social media accounts. These are essential and cost-effective media and marketing tools.
Make sure you at least have a Facebook and Twitter account. But because jewelry is so well-suited to Instagram, you should also have an account on this social network. Make sure you include contact details and many sample pictures of your jewelry.
You can also use your website to sell your products. Other online platforms to sell your jewelry include Etsy, Artfire, Amazon, and eBay.
On your website, you should also include a blog. This will not only help you become an influencer within your niche of home-made jewelry but also boost your SEO (search engine optimization). SEO helps you rank highly on search engines such as Google.
6. Set Your Prices
Setting your prices is one of the most difficult steps in setting up your own home jewelry business.
There certainly isn’t a one-size-fits-all rule for pricing your jewelry. But you have to consider the material and labor costs of producing the products. While you need to make sure you’re making a profit on your jewelry, don’t overcharge or you’ll struggle to sell anything.
If you’re selling your jewelry through a variety of mediums and markets, then it’s important to keep your prices consistent. This means it should cost the same whether it’s at a arts and craft market in a local town or on your website.
7. Be Patient
Many people who set up their own businesses from home are impatient for success. This is especially the case if you’ve risked everything and give up the stability of a 9-5 grind.
However, the trick to a successful business is to be patient. There are lots of new things to learn about running your own business. It can take many years to really build your home jewelry business.
If you’re struggling to make a profit or find new customers for your product, adjust what you’re doing. This might involve making a different kind of jewelry or driving your social media strategy in a different direction.
8. Do What You Love
What makes you different to someone else making jewelry? It’s not price or the quality of your jewelry, it’s that you love doing what you do.
Making jewelry is a creative process that requires a lot of time, effort and passion.
That’s why if you’re making jewelry you believe is beautiful and wonderful, the chances are, other people will too. There’s always a market for it.
Starting Your Own Home Jewelry Business
Whether you’re taking your first steps into the world of entrepreneurship, or you’re an experienced player in business, starting your own home jewelry business can be daunting.
With these tips, you’ll be well on your way to success with your passion project! If you’ve set up your own home jewelry business, we’d love to hear from you. Let’s us know in the comments.
Otherwise, if you want to know more about becoming your own boss, explore our blog or get in touch.