The handcrafted jewelry business provides fun and excitement with an opportunity of earning high profits. With its high customer demand for handmade jewelry and the potential for constant growth, and the right business strategies, enthusiastic jewelry makers can reap considerable rewards by re-making their hobby into a home-based jewelry business!
Whether you make some of everything or specialize in a certain genre, such as Native American or Eastern Indian designs, just handmade glass beads or coordinated sets or jewelry, you can create your own place in the jewelry business world. Find what fits your talent and ambitions, and go for it!
Use your favorite Internet search engine to find leads for wholesale suppliers and comparison shop until you find the one with the best prices and goods for you. Trying to find a good online wholesaler can be a daunting task as there are a few that are unreliable and you can not only lose money, but customers as well if your orders are not delivered on time. A great place to look is eBay as all sellers have feedback scores that can help you determine if they are going to be reliable. No matter what you are looking for you are sure to find it online. If you are concentrating on one specific like glass beads, then use eBay to find cheap beads and other supplies.
You may also opt to buy directly from manufacturers of crafting supplies, especially if you have contacts in countries where they are made. Never buy retail supplies unless you are out of something you need right away and can’t wait for a warehouse order to arrive. Sell your jewelry at retail markup sufficient to cover the costs of materials, tools and your time and labor. This strategy will minimize your costs while maximizing your profits. Sometimes it is unavoidable to buy from retailers, that is why at the beginning of your business venture it is best to ask contacts that you know how to source the best wholesale jewelry, they will generally have a list of reliable wholesalers that may be able to refer you to others that supply jewelry supplies even if they don’t.
For businesses that don’t create their own jewelry, joining as an affiliate of an existing virtual jewelry company is an excellent strategy for newcomers to the jewelry business. You use the company’s web site, eliminate the need for physical inventory, and hold no responsibility for providing and shipping the product. This method is easy, low-risk, and a good way to break into the business.
It takes a special type of person to be successful in an MLM business, so it may not be the right choice for you. Even if it is workable for you, carefully research any MLM with which you may decide to become associated.
If you are an experienced and talented jewelry maker, you can market your wares from home, on the Internet. Yahoo and e-bay both provide online auctions and shops where you can sell your items to a ready-made buyer base, and backed by the solid reputations of Internet giants. If you want something more personal, try home jewelry parties. You can host them yourself or ask an acquaintance to host one for you. The intimate setting provides a friendly environment that has proven successful for so many newcomers to the jewelry industry.
Your success in the jewelry business ultimately lies with you. Work full-time or part-time, but learn all you can about your area of the business, and keep up with marketing trends. Start with a simple business strategy and work your way up!
