Home-based Handmade Jewelry Business
Making Handmade Jewelry
There is no fear of market saturation of jewelry adornments. Jewelry is worn for a variety of reasons from fashion to religion. The information highway with its technology allows the downloading of instant information on how to make different types of jewelry.
- Have you noticed how people love your handmade jewelry?
- Are you addicted to jewelry making?
- Is your hobby space getting crowded with your creations and storage space is shrinking?
- Are family members and friends starting to encourage your hobby to be a business?
- Are you seriously considering starting a jewelry making business in your home?
Advantages of working in the home:
- Storage space is available
- Office space for telephone and personal computer
- Jewelry work station
- Utilities are available
- Sell outside of the home through arts and crafts shows, jewelry shows, Internet outlets, flea markets, swap shops, consignment at department stores and jewelry stores, and wholesale. Working from the home will allow for experimentation before opening a physical location away from the home.
- Gaining working experience to build your entrepreneurship abilities to own a business.
Part-time or Full time Jewelry Business
A home-based handmade jewelry business is an unlimited field for creativity. Working from home will offer the opportunity of working part-time or full time. The type of jewelry and the selling price of the jewelry can be a clue for your workload.
Working part-time may earn the desired income. A full time business may do more than satisfy your income. Part-time versus full time will have different definitions for business owners.
Part-time is usually 20 hours a week; full time is 40 hours a week. But, if the business income is not satisfactory either more production hours will need to be worked or new jewelry products developed.
A secondary income may be necessary while building a business. Most entrepreneurs do have a secondary income and refer to part-time as being whatever time they can contribute to their new business or when they are able to maintain the desired stable income.
Full time is reserved when there is no fear of an inadequate income and the business is building a successful financial foundation with promises of additional profits throughout the year.
Two Sided Coin
Never borrow money to start a business.
It takes an average of five years for a business to start making money. Paying back a loan with or without interest is stressful and will be burdensome for another undetermined length of time. It is best for a first time business owner to use their personal capital.
It is well worth self-capitalization as the responsibility of budgeting is serious. All businesses have to work with a budget. Invest in yourself to pursue your dreams. If it fails; lessons learned. If you succeed; congratulations on your achievements.
The secret for financial growth is a two-sided coin. One side of the coin is to maintain your regular customers and the flip side of the coin is to generate new customers. Keep both sides of the coin continuously active and financial success will be your reward.
Crystal Ball- Fortelling the Future
Flexibility is Success
Jewelry is made for men, women, children, and infants, and pets.
It matters not if you are a beginning or a master at making handmade jewelry. If you can design and assemble beads in an attractive and unique arrangement which keeps customers purchasing your creations, you will financially succeed.
The jewelry market has its twists and turns, its ups and its downs, and its unexpected surprises. The fashion world can turn on a dime. Your creativity needs to turn just as quickly.
No one has a crystal ball to see what the new trend will be, none the less, be alert to the fashion forecasts.
One year can be demanding of leather and beads, and the next fashion year may be demanding chain and beads. Flexibility is the name of the game.
Jewelry making demands creativity and originality in order to meet its challenges and demands. The rewards are wonderful and worth pursuing.
Regular and Future Customers
Your jewelry is unique... that is why you should make jewelry pieces that you love. Your creativity is rewarded for originality and uniqueness. There is much love and care which goes into every handcrafted necklace, bracelet, anklet, earrings, and rings which an artist makes. Never copy another artist's work. There are copyright laws to be honored.
How to maintain consistent sales:
- Keep an inventory of "hot sales items". (Current fashionable items)
- Survey customers in order to continue making jewelry in their favorite materials, colors, and styles. (Maintaining repeat customers)
- Maintain an inventory of jewelry which always sells. (Traditional stock)
- Keep designing new pieces of jewelry. (Original buyers and future sales)
- Update knowledge to keep ahead of the competition.
Artists love to create. Building a business will require both creativity and imagination to continuously supply inventory and earn monies. If not earning a profit, then it is not a business; it is a hobby.
Are You an Entrepreneur?
Are You An Entrepreneur?
Before starting a business; are you an entrepreneur?
- Is the belief in your product so strong, that it motivates you to actively pursue the dream of owning your own business?
- Are you thinking that you are smarter than your current employer?
- Do you know that you have the knowledge and the skills to produce these jewelry products?
- Is the capital fund available.
- Are you flexible and open-minded?
- Do you understand marketing and advertising?
- Are you comfortable with selling and asking for the money?
- Are you able to meet product deadlines for your customers?