Have you been thinking about how to begin your own Online jewelry business? Maybe you have an idea of an outstanding collection in your mind, and you’re eager to establish yourself in the field. Whatever the motivation behind your desire to start an online jewelry store is, this is the right time to begin your journey.
Globally, the worth of the jewelry market is projected to grow up to approximately $292 billion in 2025. Of course, if you’d like to take a slice of this market, you must have some plan.
Beginning a jewelry business and operating your own online store could be difficult. We’ve got 10 steps to help you get into right now.
1. Identify a Market Opportunity
Before you begin any venture, it’s essential to understand that there are people eager to purchase from you. This is why you must study your market before making the jewelry and then selling it.
One of the last things you need to do is spend hours and money creating your collection of DIY jewelry that you can sell only to find that nobody would like it.
There are plenty of methods to collect research. Market research companies that are secondary sources such as NPD, Nielsen, and MarketResearch.com can help you locate studies that have been done on your specific industry. Research reports are available for purchase.
Be aware that many types of jewelry businesses are worth considering. Are you looking to sell top-quality jewelry? If yes, you’ll have to spend more on the initial materials. However, you’ll also be able to sell your product at a higher value and retain stellar branding. If you’re looking for fashion jewelry, you could create designs at a lower cost, but you’ll require the most profits.
Sometimes, it’s helpful to do your own research about products. For instance, you can:
- Analyze competitors. Take a look at other jewelry business competitors on the internet and discover what they’re doing well (and incorrectly). This will help you make your own brand stand out.
- Run a Survey. Take a look at forums and social media groups to meet people interested in jewelry and who may be willing to address a few questions regarding the jewelry they are passionate about.
- Check out jewelry blogs on the internet. Many jewelry and fashion bloggers keep current with the latest trends and styles. The blogs you follow will allow you to discover the latest and most promising opportunities in your industry. Here’s the list of jewelry websites to help you get started.
- Check out Google Trends: Tools like Google Trends allow you to find the top industries, and you can determine what products are most popular. For instance, there’s been an upswing in the popularity of charm bracelets, jewelry made of clay, and resins.
Consider the type of jewelry stores you’re interested in. It’s best to select an area you’re interested in when you find your area of expertise. It could mean you focus on things like engagement and wedding rings or even attempt your hand at creating statement earrings.
2. Define Your Target Audience
When you’ve identified an opportunity to market your jewelry-related business, you need to learn about your customers better. The process of identifying the demand in your industry and determining who you need to target are two different techniques that are inextricably linked.
It doesn’t matter if you’re selling jewelry from your own home made by you or working with a particular brand.
Consider the type of people who are most likely to be attracted to the kinds of items you’ll be selling. For example, if your business sells diamond engagement rings of the highest quality, You’re seeking people in relationships who have some income level. The more you know your target audience, the easier it is to reach them with your advertisements and branding.
Think about:
- Demographics: This covers age, gender, income, the geographical place of residence, marital status, and many other characteristics that define them.
- Psychographics: The behavior of your target audiences, such as their preferences, interests, habits, hobbies, lifestyle preferences, and shopping habits.
- Needs and problems: What kinds of problems are you trying to resolve for your clients? Why should they choose you?
It is much easier to stand out in a crowded market such as the jewelry industry when you do it in segments. For example, instead of only targeting those looking for engagement rings, why don’t you think about targeting those who require custom and inexpensive rings? What about placing your target audience into specific categories such as vintage jewelry enthusiasts and gifters, frugal or premium shoppers?
3. Make a Business Plan.
If you’re trying to figure out how to establish an online jewelry business, it’s easy to forget aspects such as business plans. We all want to leap straight into selling. However, a business plan is vital in keeping your business on the right path. Consider it a compass that will help you navigate your business’s expansion.
A well-designed business plan for your jewelry business will help you remember the purpose of your business and help you determine what direction to take next. Anyone who invests in your company must be sure that you’re creating and selling jewelry profitably. Investors and potential loan lenders are also required to verify your business plan.
There are examples of business plans templates online. They should typically include:
- Executive Summary: describing your business’s operations in a simple manner
- Description of the business: what you do
- Research on market trends: How do you stand within your field?
- Product information The type of jewelry that you’ll offer
- Funding options
- Plans for selling and marketing
4. Make Some Jewelry
This is the part many creative jewelry designers are awed by.
Once you’ve formulated a strategy, you’re ready to imagine your jewelry collection. With your knowledge of your market, consider ways to benefit from the current fashions without making your jewelry the same as everyone else’s.
Think about creating jewelry collections rather than simply an individual piece of jewelry at go. A collection can help create an even deeper connection with your client by telling the story. For example, Bvlgari has a fantastic collection inspired by the jewelry of the past. This can help define the brand as one that is rooted in an enduring history and heritage. When making your jewelry, remember:
- Get yourself educated: Before making jewelry, it’s beneficial to learn about manufacturing techniques to ensure that you have the right materials and equipment to run your business. The Jewellers Academy and All Free Jewelry Making courses are available to improve your skills.
- Use the appropriate tools: You should keep an eraser and pencil to record any ideas that pop up. Softwares for creating jewelry like Jewelry CAD Dream could assist in bringing your ideas to reality.
- Consider the materials you’ll need: Consider the following: If you wish to earn money by selling jewelry you’ve designed at home by yourself, you’ll require beads and clasps, gemstones and precious metallic materials, wire, and chains. You may also need an outside manufacturer that can utilize the materials you’ve chosen to design your dream.
- Create your own samples: If you’re a third-party supplier or make your products from scratch, you’ll require several samples to present to potential buyers. These samples are also needed for the photography of your product.
Make sure you take plenty of gorgeous photographs of your jewelry for your product and website pages. This is your opportunity to showcase what you can create.
5. Find a Jewelry Manufacturer
If you’re considering getting started in the jewelry business, it is important to be realistic. Making your own jewelry requires lots of time, effort, and energy. You can earn some cash by creating items yourself and then selling them online.
If you’re looking to begin and scale quickly, choosing the right manufacturer is essential.
You should think about the best way to have the items made. You can collaborate with smaller producers who create the jewelry in accordance with your ideas or purchase wholesale jewelry from larger companies.
Consider:
- Quality of the jewelry: You must be sure that the manufacturer you choose to work with will create authentic jewelry using the materials you request. If you tell customers you will offer sterling silver, and you offer painted metal, your business will likely fall quickly.
- Start by requesting samples: Request from your manufacturer samples of the products you’re planning to use to test the quality. If you’re confident that you’re getting something of value, you can begin ordering in large quantities.
- Location: A manufacturer from overseas may be more affordable if you want to jump into action quickly. However, it may take longer to get the items to your clients. Partnering with a local jewelry retailer similar to the ones you’ll find on be able to handshake with if in the US can result in an improved brand image.
6. Build Your Brand.
Customers buy from companies that they feel a strong emotional connection.
A brand lets you develop a bond with your customers so that they fall in admiration of your vision, mission, and products. A successful brand requires a memorable name, a stunning logo, a powerful site, and a stunning color palette.
It’s unnecessary to be a professional in branding to design something stunning. There are plenty of excellent tools available online to assist you. For example, Shopify has its own:
The tools are easy to make use of. For example, I needed to type in the word “jewelry” into the slogan maker, and it came up with hundreds of fantastic suggestions in just 15 minutes.
If you’re struggling to design all the branding assets you require by yourself, take a look at the freelance design talent via Upwork, Fiverr, and DesignCrowd as well.
7. Select a Price Point for Your Products.
Affording the best value for the jewelry is vital.
If you price your products too high, you could send your customers to the store. Pick a price that is too low, and you’ll risk making buyers believe that you’re not offering high-quality items.
Consider the cost to create the item. The “cost of goods sold” includes production, labor, and materials costs. It is also essential to consider the overhead expenses for running your business. Do you plan to have a physical space to store products, such as an industrial warehouse? What will you be paying employees, and what is the cost of shipping?
It’s your responsibility to decide how much you’ll be charging to cover the costs of your products and earn some profit.
8. Start Marketing.
Set a price for your product, and you’re now ready to begin earning money. Naturally, you’ll need to get people to know about your product first.
Marketing is an essential aspect of learning to begin your own online jewelry business. The good thing is there are a lot of opportunities to promote your brand on the market. If you’re trying to reach a sizeable internet-connected audience, you may want to start with Facebook ads. It’s a popular advertising method on Facebook because it allows you to be extremely specific in your target. For instance, if you’re offering wedding rings, you can even target those who have recently changed the status of their profile with the status “engaged. “
If you’re trying to create an overall strategy for traffic, you could play with the e-commerce SEO and make sure that you’re being found for specific terms within your area. For instance, you may compete for terms such as “diamond rings in SoHo.”
Marketing via email is one of the most efficient ways to establish long-lasting relationships with your target audience that is ideal when trying to sell several jewelry items for loyal clients. You can also try influencer marketing.
9. Set Realistic Sales and Distribution Targets.
If you’re beginning to learn how to create jewelry to sell online, it is important to establish goals. What are you able to achieve with your jewelry shop? The goals for sales and distribution can give you something to strive for. But don’t try to make yourself work too hard.
The growth-oriented goals will allow you to keep track of your progress as you’ll be able to use actual numbers to guide your efforts. Perhaps you should start by increasing your revenues by 25% each year when you’re in the business. Similar is the case in the case of distribution if you’re learning how to market other jewelry products from manufacturers on the internet.
10. Begin by launching a Soft Launch. Then look for opportunities.
Once you’ve established a presence with your jewelry collection set to go, you can begin with an initial launch. Be patient, start by gradually launching your brand and take advantage of opportunities to gain knowledge while you move. This is the time to start putting your plan for branding in action and show off your strategies to market within your field.
When you are confident that your company is earning money, you’ll be able to begin seeking ways to expand your business with help from other businesses. Look for retailers that sell jewelry products similar to yours, and then determine whether you could form a partnership.
If you feel you’ll need more capital to expand your business, explore investment opportunities. Make sure you have your business plan in place to make an impression. You can even offer potential investors a few samples of your product to let them see how good your product is.
Jewelry Business Store Examples
Let’s look at some of the best Shopify jewelry stores that will help inspire businesses.
Wolf Circus
Wolf Circus sells fine jewelry items handcrafted from Vancouver, BC. The store’s online presence is promoted as an ” attainable luxury resource,” aiming to encourage customers to find their self-confidence throughout their day. It’s a great mission statement.
Revival Jewelry.
Revival Jewelry is a one-of-a-kind jewelry store featuring patent-pending technology that lets customers save their own photos and transform them into beautiful jewelry pieces. Customers can see the picture by holding the piece one inch from their face to look into the gem. The company does a great job of showcasing the image in their video on their homepage, creating an excitement that immediately attunes shoppers to the possibility of buying.
Hoochie Mama
Hoochie Mama is a UK-based jewelry store that offers a variety of jewelry, necklaces, earrings, bracelets, and much more. What makes it stand out is the elegant photography of its products, and you can see quality images of their products across their website. Additionally, the store is on the right note by displaying product pages that provide detailed descriptions of their products and stunning images. They also provide links to their return and customer service pages.
Get Out There and Sparkle!
Now you must be aware of how to start an online jewelry business and begin earning profits. Remember that it will require time and effort to get the best outcomes. You’ll have to conduct your study, think about your customers, and pay attention to the changes to the market as your brand develops.
Final Thoughts
The steps listed above will give you the guidelines you will need to put together your jewelry store. However, it’s up to you to ensure that your business stands out from the crowd.
