3 Must Knows Before Starting a Jewelry Business
A jewelry business is an amazing way to make money and build an income for yourself. The jewelry business is hot and always growing. Now before you jump in, lets go over a few must knows before starting a jewelry business.
The first thing that you need to decide is about your product. Are you going to make the items that you are going to sell or are you going to purchase them and then sell at retail?
If you plan on making your jewelry, there are some things to think about. Where can you get your supplies in the bulk that you want and at an amazing price so that you can make profit on your jewelry? It is also important to factor in the amount of time that you will need to put in to make a piece of jewelry. This will all go into the pricing aspect that we will talk about later.
Now perhaps you don’t want to spend lots of time finding supplies and making the jewelry Purchasing the jewelry wholesale and then selling the items at retail is an amazing easy way to get your product. Where can you get jewelry at wholesale? The best place is through Paparazzi.
When you become a consultant you will have access to lots of jewelry that you can purchase at the wholesale price of $2.75 each. Sign up HERE to get access to this wholesale jewelry to get your products.
You have your product! Yay. Now you need to decide how much to sell it for. The important thing is to make sure that you are not charging too much so that people are willing to purchase your items. But you want to make sure that you are covering your costs so that you are making a profit.
If you have decided to make your own product, you will want to figure out how much it costs you to make a piece and how long it takes. You will factor that into your price point.
That sounds like a lot of work. However if you chose to get your product wholesale from Paparazzi when you signed up as a consultant, pricing is easy. You charge $5 for your jewelry. That is it. Every piece of jewelry that you sell (minus Zi or Starlet Shimmer) can only be sold for $5.
This is the perfect soft spot for pricing. People love buying items when they only cost $5. You make 45% profit on each piece that sell. Easy! Sign up to become a consultant HERE to tap into this easy jewelry business system.
Where to Sell
Now you have your jewelry and how much you are going to sell it for. The next step is to get it in front of people. So here are some ideas of where to sell your jewelry.
Pop Up Shops
Set up in Salons
Your Own Website
And so much more options are possible
If you love these tips, make sure to join my team at Paparazzi so I can share my knowledge of how to run your jewelry business.