Nowadays, jewelry is a massive industry, and people are willing to spend significant money on it. The online market for jewelry reached $13.45 billion in 2022. Also, it is forecasted to rise to $13.8 billion in 2023.
If you think of a way to make money online, learn how to start a jewelry business from home. Luckily, the process of launching a jewelry business is not as complicated as you might think.
We’ve divided the procedure into seven crucial parts on how to get into the jewelry business right at your home. Fasten your belt as we’ll take you on a fantastic ride.
Keep reading!
Contents
1. Why should you learn how to start a jewelry business from home?
There are 5 reasons why you could get excited about opening a jewelry business from home.
Firstly, it has long-term career potential and enormous profit margins. Perhaps, you’re relieved to hear that the jewelry industry has average profit margins of 42–47%.
Secondly, starting a jewelry shop from home will come with the flexibility that not all types of businesses have. You can work at your own speed and on your own schedule, which allows you to manage other commitments and responsibilities.
Thirdly, working from home is money-saving. It eliminates the need for a separate workspace, which raises your profit margin and lowers overhead expenses.
Last but not least, thanks to technological improvements, you may quickly and simply use online platforms to reach a global audience, growing your clientele and potentially boosting revenue.
2. How to start a jewelry business from home
The idea of opening a jewelry store is easy, as it is with any other. Yet, it will require several significant steps to implement this idea.
Fortunately, learning how to start a jewelry business online doesn’t require much assistance. With our 7-step guide on how to start your own jewelry business, you can be sure to be on the right track.
2.1. Decide your jewelry niche
Jewelry is a large product area that appeals to all kinds of consumers. It ranges from inexpensive, cheerful plastic beads to exquisite jewelry made of precious metals and gemstones.
Every category has its specifications for materials, manufacturing methods, cost, and target market. Thus, it is best to focus on a single niche market to ensure that your brand identity and marketing message are precise and targeted.
The following are from the list of best jewelry business ideas we suggested:
- Handmade jewelry: This is jewelry with a unique flair. These one-of-a-kind, custom-made products are what you create and sell.
- Vintage jewelry: It is found and resold; it is not manufactured. This jewelry’s past, which is unique, is what makes it so alluring.
- Fine jewelry: The most extensively promoted category of jewelry is fine jewelry. It includes brand-new items crafted by expert artisans from precious metals and jewels.
- Fashion jewelry: This kind of jewelry, sometimes referred to as costume jewelry, is designed for daily use. The materials are less valuable, and production is carried out on a bigger scale in order to save money.
Next, you must determine whether your products are occasion-specific (wedding, party, daily use, etc.) and describe the demographic you are targeting (classic, fashion lovers, brides, socially conscious customers, etc.).
Overall, the niche you select will define the operations of your business, including pricing, marketing, and the sourcing of materials and manufacturing.
2.2. Research the market and trends
The next step is to think of what your pieces might look like after you have decided on the kind of jewelry you plan to sell. If not, you should start digging into the market and find out what is trending.
2.2.1. Follow jewelry trends
One technique to decide on (and validate) your direction is to conduct trend research. To stay up to date on trends for each new season, read blogs on jewelry and fashion, and follow well-known TikTok producers and fashion influencers in the industry.
Some popular trends are the need for individualized experiences like engraving or the use of sustainable materials.
2.2.2. Learn from competitors
Needless to say, you will face competition in your niche. Yet, your competitors can give you valuable market insights. You can then learn and differentiate yourself from the crowds.
You can research their strengths, limitations, social media platforms, advertising locations, and other details with your computer. All those things will help you figure out how your items should look to stand out and attract customers better.
2.3. Produce (or source) your jewelry products
After defining your niche and coming up with a clear concept of what you will be selling, you can begin to consider how to produce or where to source your jewelry.
This section will cover 3 production and sourcing strategies for how to start a jewelry business from home:
2.3.1. Handmade jewelry production
Creating jewelry by hand is a labor-intensive, yet highly personalized, and versatile production technique.
Certain techniques for producing fine and OOAK jewelry call for costly equipment, specific training, and certification, depending on the materials and design. You might need to become proficient in some of these techniques, such as:
- 3D printing
- Laser cutting
- Weaving
- Gemstone setting
- Casting
- Soldering
- Silver/goldsmithing
- Leather tooling
If you want to focus on running your business rather than the actual jewelry-making process, you should consider hiring people or outsourcing creative work.
2.3.2. Factory outsourcing
You can have someone else manufacture your designs if you don’t want to make the jewelry yourself. While it may not be the best option for exquisite, personalized jewelry, it is a more affordable way to sell jewelry in bigger quantities.
When outsourcing to a jewelry manufacturer, there are two primary options:
- Domestic manufacturing: It offers the advantage of being “made locally” and makes it simpler to establish connections and oversee production.
- International manufacturing: If you want more factory options and inexpensive costs (for those producing large volumes), this could be suitable for you. Barriers to communication, less control, and problems with fulfillment delays are some of the potential difficulties.
In the event that you are outsourcing to a manufacturer, precise sketches or 3D renderings of your designs are required.
2.3.3. Print on demand
The least involved production approach is to upload customers’ ideas to an app or extension that allows for print-on-demand printing. You won’t have to come up with product ideas that can attract customers. Instead, the customers will tell you what they want and you just need to make it alive.
Your buyers will receive direct shipping of your products with their original designs, which are 3D printed or replicated in wood, plastic, gold, or silver.
2.4. Establish brand identity
After you finish the above steps, you can get into the exciting part of how to start a jewelry business. That is branding.
The consistency of branding is what matters most. You want your customers to recognize you even if they don’t see your emblem on every page and image.
The following are the main components that go into creating your brand identity:
- Memorable name
- Simple logo
- Strong mission and vision
- Signature product photography
You can use this style guide as a reference for developing great jewelry business name ideas, marketing campaigns, unique landing pages, and fresh advertising. As your brand develops, you can change your branding to make it suit your needs.
2.5. Price your products
While creating product ideas and developing your brand are enjoyable, the ultimate goal is to make money. And pricing plays a big role in achieving this.
Pricing must be strategic. Going too low could make your products and brand seem cheap. Go too high, and your customers will look for the next attractive deals.
To be viable and competitive, you must continuously adjust your pricing business plan for jewelry business. The following are the key elements that will assist you in setting your price:
- The common market rate for your niche
- How distinctive your items are
- The estimation of your jewelry’s worth
- How much you paid for your goods (COGS)
2.6. Set up your eCommerce store and start selling online
Now, you will need a place to sell. Deciding the platform or marketplace you like to start a jewelry line on is the next thing to do.
Marketplaces offer a sizable pre-existing audience for new businesses, but they also pose significant challenges to brand expansion. On the other side, platforms are available to support your small brand when you lack an audience.
We advise you to start with an eCommerce platform. It can provide better and more advanced support for you if you want to scale your business.
The best option that we recommend for you is Shopify. There are many reasons why opening a small jewelry business from home on Shopify is ideal, including:
- User-friendliness
- Lower transaction fees and no listing fees
- Comprehensive customer support
- Customization of your storefront
- Easy scalability with useful eCommerce tools
- Availability of POS (Point of Sale)
- Customization of shipping options
- In-depth analytics
You just need to sign up for an account and follow their instructions. They have everything you need to set up and operate a jewelry business from home smoothly.
2.7. Promote your brand new business
One important thing to remember is that you can start marketing your business even before it launches.
You can create a Coming Soon splash page that announces your impending launch. Then, begin to cultivate your email list of prospective clients while you work on your store pages in the background.
Don’t worry if you don’t know how to do that. You can have all these features available on your site by downloading the necessary apps from the Shopify App Store.
These apps are easy to use and full of functionalities that will help you exercise any type of marketing technique. Some of them are:
- Paid advertising: It comes in many forms, including Search ads, Shopping ads, Display ads, Social media ads, and Retargeting ads
- SEO: Even while SEO marketing doesn’t provide results right away, the long-term benefits make the effort worthwhile. You can appear for search terms that your target audience uses when looking for certain jewelry products.
- Social media: You can build your social media channels with engaging content that appeals to your target market. Rich product photography can be useful in your social media posts.
- Email marketing: You can use drip campaigns to effectively nurture those connections based on the customers’ stage of the sales process.
3. Jewelry business from home examples
This section presents a few prosperous online jewelry businesses, providing insightful information for you to make your own success.
3.1. Ann + Joy
Ann + Joy is a jewelry boutique that pioneered in Florida, the US. Its offerings are handmade by the sisters Lindsay Ann and Courtney Joy.
Real dried flowers that they collect, cut, dry, dye, and embed into exquisite necklaces, rings, earrings, and other items are the focal point of all their creations. You can wear preserved nature for a lifetime with our jewelry.
3.2. Missoma
With its exquisite designs, Missoma, a pioneer in the demi-fine jewelry industry, aims to evoke confidence and self-expression in wearers.
The core of Missoma’s philosophy is sustainability; they shun quick fashion in favor of classic, adaptable collections that promote wearing and re-wearing in various ways.
3.3. Emily & Ashley
Emily and Ashley Green, who are sisters, started a fine jewelry company in New York with the goal of making timeless feminine designs.
The mission of their business is to craft exquisite jewelry that embodies the spirit of the lady donning it. Timeless heirlooms that every lady can claim as her own and subsequently pass down to their children.
4. Conclusion
Establishing and learning how to start a jewelry business from home demands lots of preparation, commitment, and an eye for beauty.
You may create a strong business foundation and put yourself in a successful position in the fascinating and fulfilling field of handcrafted jewelry by closely following our step-by-step guidance.
Importantly, you must never stop innovating and staying inspired to remain relevant in the jewelry industry.
In the end, if you want to learn more about utilizing eCommerce functionalities to develop your brand, we have everything you need here at eComStart. If you are interested in other niches, find everything you need from our well-made business starting guides
5. FAQs
