It is one of the easiest ways to start a business today. You can literally be up and running in a few short hours and making money within 24 hours of opening your doors. Pricing is an issue that many people in the jewelry business often worry about.
However, there is a method that you can easily use, whether you purchase jewelry wholesale or make your own jewelry.
Pricing is very important.
You do not want to charge too much, because you will not sell anything.
On the other hand, you want to make sure that you charge enough to make a profit.
If you purchase your jewelry at wholesale prices, a markup of 15% to 30% is usual, and people will pay these prices.
In the grand scheme of things, apply the 30% markup, and make that the regular price.
When you need to move merchandise, hold a sale and use the 15% markup price as the sale price.
If you make your own jewelry, determine the total cost of the piece, including the cost of supplies, shipping, warehousing, and packaging, then apply a 15% markup.
With the 15% markup, your jewelry will be priced at the wholesale price.
If you sell the jewelry to the public yourself, as opposed to selling it to retailers, apply the retail price, which in this case would be about 45% above your costs.
If you are a creative person, with a great sense of style and flair, you may be able to start your own business by making and selling jewelry wholesale.
Because people are so unique, they want jewelry pieces that are unique and one-of-a-kind that nobody else in the world owns.
This desire can make you quite a bit of money.
Simply start your very own jewelry wholesale company.
You can easily order wholesale supplies from hundreds of companies around the globe online at low prices.
It is important to keep up with how much each part of each piece of jewelry costs you, and to get a total cost of each piece, including any expenses that you had for having supplies shipped to you.
With the total cost figured, you can easily set your prices by adding 15% to the cost.
You can sell your pieces in a variety of ways.
You can open your own online wholesale jewelry store, sell to local jewelry stores, rent booths at local flea markets and fairs, or advertise your jewelry making skills and take orders for unique pieces.
You can also sell your pieces on consignment at boutiques.
You want to be known for your quality.
Always select the highest quality gems and stones for your pieces, and make sure that the craftsmanship is outstanding.
Become exclusive, and more people will want to purchase your pieces.
And never make any two pieces alike.
However, you can also go the other route and make hundreds of identical pieces, as they are ordered.
You do this by making one unique, high-quality piece, and showing it to your local jewelry stores.
Ask them if they would like to order in bulk, then fill the order.
Another option is to do catalog sales.
Make enough pieces to fill a small catalog and take pictures of each piece.
Write a description for each piece and then put together your own catalog using software and a good printer or send the work to a print shop.
You can send these catalogs out to a list that you obtain from a direct mailing list company.
This type of business does require creativity and skill, but it also requires the ability to market yourself and your jewelry.
You need to have business cards printed, and have catalogs and brochures printed as well to market your jewelry wholesale business.
