Women love to wear a variety of jewelry pieces, which makes selling these precious items a roaring business. Even if you start a jewelry line business at a small scale, it will continue to grow due to firm demand.
If you are a jewelry designer, which means you are an artist, you may not be naturally inclined toward doing business. You may not be thinking of starting our own jewelry line business, fearing that you will not be able to handle its business side.
But the fact is that many jewelry designers have successfully launched their own business. They create jewelry designs on their own and manufacture the jewelry pieces, market, do business promotion and earn well. A common starting strategy most of the jewelry business owners adopted when they started out was to sell jewelry to family and friends. Then, they gradually moved up the ladder by building a client base and expanding beyond personal network.
There is a wide scope for your jewelry business in the local and global market. In the U.S, the retail industry sales grew 6% from previous year. Out of the total sales, the share of specialty jewelers was more than 43%. The U.S jewelry industry is worth $71.3 billion.
Here Are 5 Tips On How To Start Your Own Jewelry Line Business
1. Research Your Target Customers
Before starting your jewelry enterprise, make sure that you precisely know who your target customers are. You should know whom are you designing for. Many jewelry designers find it harder to sell their collection because they are unaware of their real clients and know little about their social and other backgrounds.
In fact, many jewelry designers think that they can sell their pieces to everyone. That is a wrong assumption and soon you need to find out your target customers. So, research the market and find out the set of people more likely to buy your products.
2. Create A Sensible Collection
Your collection of jewelry designs should never be a bunch of random pieces. Such designs for the sake of it will be hard to sell. People like to buy useful things. In case of precious jewelry items, this means that the customers will look for some story in your jewelry collection. Look at some jewelry designs for inspiration.
Make sure that your collection has some story to tell to the customers. For example, are your jewelry designs saying something from history and traditions of your people? Or, do the designs evoke feelings of modern women who love to wear the most fashionable jewelry pieces.
3. Price Your Jewelry Wisely
Another important consideration for starting your jewelry business is to put a right price tag to the items. You have many established jewelry companies from global stage to compete for customers’ attention and budget.
Remember that you cannot compete with global companies which have enormous budget. If you lower your prices too much, you will end up suffering financial loses, resulting in early closing down of your small jewelry line business.
So, experiment with the prices and see which range of price suits more to your customers when they want to buy your jewelry pieces.
4. Get A Website
Most of the entrepreneurs do business through their websites. They put a website for providing all the relevant information such as pictures of jewelry pieces, descriptions and contact information.
But the website must be user-friendly. When your potential customers come to the site, its design, attractive images and smoother navigation keeps them glued. If they spend more time on your website, chances are that they will buy.
Your small business can easily get a professionally created jewelry website design specially for your niche. Just visit a crowdsourcing site like Designhill and launch a website design contest. You can shortly have a winning website design that is tailor made as per your design brief.
5. Create Great Jewelry Photos
Your images of jewelry designs will appear everywhere on your website, brochures, advertisements and all marketing material. People take buying decision also on seeing the jewelry pieces. The images make first impression of your jewelry line business on the buyers.
Never make the mistake of clicking the photos on your own. Professional photographers know which angles of products attract buyers’ attention more. So, invest in hiring a professional photographer and have great photos of your jewelry collection.
Treat these pictures as your marketing tools. Such quality photos are actually your first gateway to draw your clients’ attention toward the great design pieces.
So, these are the tips to which you must pay attention, if you want to make a good start in jewelry line business. Make sure that you devote time and effort. Also, market your business wisely by exploring all the platforms available to you in your limited budget.