If making jewelry is one of your favorite hobbies, you can easily turn this into a money-making venture. If you already wear this jewelry yourself, no doubt you have received compliments on it. Why not explore options to make pieces that you can sell? From the compliments that you already get from people, you can bet that there are countless others who would like to accessorize their outfits with the unique jewelry that they can purchase from you. If you want to sell homemade jewelry as a business, here are some tips that can contribute to your business success.
First, you should decide on what you want to sell. If you want to go for quantity, you may want to focus on selling pieces that are quick to make in order to make more of them. If you want to focus on customized pieces that are more intricate, you should take into account the extra time that you will spend on making them so that you can set your price to make it worth your while. Look at other handmade jewelry that is sold on the web and in local stores and see how the jewelry is priced. This will give you an idea on how you should set your prices.
This leads you to the next question: how much money do you want to make? Is this going to be your full-time business, or are you doing this on the side to supplement your main income? This helps you determine how much time you should devote to it. The more money you want to make, the higher your commitment should be.
Write out a business plan outlining your goals and what you need to do to accomplish that goal. It does not have to be long, but it should contain enough information so that it will be a solid road map of your how you will operate your business. You can find free templates for a simple business plan on many websites designed for small business owners.
You should have a budget for your business expenses. Your biggest cost will probably be your cost of materials. It may be a good idea to buy just enough materials to make a small inventory of pieces to test the market before you commit to making more.
Next, find a venue to sell. One of the easiest ways is to sell your products through online global marketplaces like Etsy or Amazon Marketplace. Millions of people go there to buy unique products. Setting up a shop on these online marketplaces is very easy. You can get advice on selling from seasoned merchants and experts from the online communities on these selling venues. You can also set up your own website to sell your merchandise. Lastly, you can sell homemade jewelry in local craft fairs. Contact your chamber of commerce to see which events are coming up so you can reserve a booth. Along with a display of your jewelry, pass out your business card. This is a great way to gain exposure for your jewelry business.
Selling your handmade jewelry is a great way to make money while doing something you enjoy. As you start out, be patient and focus on delivering a high-quality product. Gauge the demand for certain styles, and keep track of your expenses. Before long, you will be making a nice profit.
