7 Steps To Follow When Starting a Jewelry Business

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7 Steps To Follow When Starting a Jewelry Business

As an artist, you thrive on sharing your work for the world to admire. As an up-and-coming jewelry designer, starting a line and bringing it to the public’s attention is the best way to get your work noticed and create relationships and connections with clients and partners. This article breaks down your venture into seven steps you’ll need to follow when starting a jewelry business to ensure its success down the line.

Define Your Line and Style

While it can appear intimidating, writing down your business plan is a great way to get a clear picture of your business and organize your thoughts to help outline the next steps.

You’ll consider what kind of jewelry you’ll specialize in during this stage, whether it be detailed cross necklaces or trend accessories. You’ll also specify your target audience, pricing, and budget costs to accommodate for daily operations.

Legalize the Business

Cover all the legalities to ensure that you’re running your jewelry line properly and according to law. If you plan on conducting business from home, contact your local clerk’s office about licenses and permits exclusive to home businesses.

Distinguish Business and Personal Finances

Now that you’re running a legal enterprise, you’ll want to separate business and personal finances. This separation will help keep the private funding away from work funding and can simplify the tax-filing processes. Consider opening a business bank account to have a secure place for your funds.

Obtain Startup Funding

All starting businesses need funding to get off the ground, and acquiring them can be a challenge. Chances are, you’ll need to start your enterprise with your savings or apply for personal loans to fund your project.

Research Suppliers and Create Your Pieces

Once you establish the legal and financial groundwork for your business venture, you can start creating beautiful pieces in hopes to sell. At this point, you’ll have jewelry-making tools and equipment from trustworthy suppliers to make your accessories.

Sell Your Product

Once you build an inventory, finding somewhere to sell your work is the next step. Consider an online store or e-commerce platform to sell your goods as they are valuable in bringing traffic to your jewelry line.

Establish the Brand and Market Your Product

After establishing sales channels, you should consider your brand identity and prioritize marketing strategies to increase brand awareness. Create a logo that encompasses your company’s aesthetic and build a social media page to increase brand awareness by linking back to your online store.

You can start your jewelry business by following these seven steps in order to get you off the ground and running. With a bit of patience, effort, and knowledge in a few technicalities, your journey as an entrepreneur can be significantly easier.