If you are one of those people who are searching on the internet to find a good and effective way to start on a Jewellery business, then I can tell you, this article is going to help you wonders! I hope so.
Jewellery Business is one of the most simplest and easiest ways to start up your own business, but only if you have passion for it. If you dont, well then its a little hard work, which pays off well.
The Jewellery business is changing quite alot these days, with the social media playing a very crutial role in the success of your business as you tend to create a buzz through friends/family and ofcourse establish contacts in that way.
In order to start a new Jewellery business you need to have the following:
1) Money. This is listed on the top of the list, because if you dont have a initial inventory interms of money, then its quite difficult. Now how much money is the big question here. It doesnt matter, because you have got to start off small. But I would personally say atleast 10,000 Dollars or around that is a must. This money is spent mostly on Gems, Silver/Gold (The commodity), labour and designing.
2) A Good Gem Source. This is the second most important factor before you start your own jewellery business. I want you to not wonder anywhere else, and give us a chance to become your Gem source. We will guide you through the whole gem buying process. Because we know if you grow, we grow. There is no point in buying gems from your own local country unless you are from Asia, which is where most of the manufacturing takes place. Gems in your own country are likely to be atleast 30-50% more expensive. And you can compare when you buy from us
3) Creativity/Ideas/Thoughts/Knowledge. This is of extreme importance that you yourself have a creative mind. If not then atleast you should be passionate about Jewellery or gems itself. That is what will drive your and your company’s growth in the future. Furthermore, if you are creative enough you could also start designing your own Jewellery designs, which would save you alot of money in the start. If not, then copying designs from Magazines, the Internet, or even the photo gallery on google would help alot, ofcourse with slight modifications to escape copyrights issues.
4) A Well Defined Market. This is where alot of people miss out on. Some Jewellery companies I know just make Silver 925 without knowing which target markets they are aiming for. Reasearch. Research. Research. Thats the most valuable information you can get on what type of Jewellery works in what city. For example: If you are from the USA, Jewellery from state to state would vary alot. Each states have its own people and its own tastes. Research on companies from that state, and see what type of gems, cuttings, designs they are using in their Jewellery.
So to start off with, understand/research the whole Jewellery market as a whole. Read alot, off the internet and off Books. Even facebook is a great source if you spend a lot of your time there. (There are people who sell gems on facebook) See whats in trend, read blogs, talk to Jewellery companies around your home. After you have done all the hard work, Its time to start something real. Decide on what type of Gemstones you are going to use (That is if you are going to use them), and what genre of Jewellery are you going to make.
Options are: Gold Plain Jewellery, Gold Jewellery(Withgems), 12karat Gold Jewellery, 14karat Gold Jewellery, Silver 925, Plain Silver Jewellery, Children Jewellery, Jewellery for men, Engagement Rings, Platinum Jewellery. As you can see the list can go on and on. Narrow it down if you havent chosen one. And then select the most profitable and interested Jewellery genre you want.
Then find a good manufacturer of Jewellery in your country. Its quite important that the Jewellery manufacturer be in your city, because for a small scaled business its important to have it in your control. For a medium-large scaled business you should outsource it from Asia, as the cost of manufacturing may be 30-50% lesser, however dont forget the shipping and the communication barriers you may face.
Implement all your designs, and finalize them after talking to the designer/manufacturer/and yourself. Make them, post them to your friends, do email marketing, social media, and ofcourse if you have a store in mind then display all your designs in the store, and even take part in trade-shows if you are looking to expand.
I hope this article helps all of those that are lost and need a simpler path to go about things. If there is anything you want to know about or if you want to order gems like Blue Topaz, Citrine, Amethyst, Garnet, Aquamarine, Black Diamonds, Peridot, Morganite, and many more then do let us know. I will be happy to help you in all ways possible.