A Jewelry Home Based Business
Your guide to a jewelry making home business
Starting a jewelry home based business is easier than you think.
Making jewelry at home and selling it is a fun and creative way to earn income and enjoy all the benefits of your own home business.
Use these tips to get started with a successful home jewelry business.
Pricing your homemade jewelry
Knowing how to price your jewelry can be challenging but it is the key to profitability. You can follow a fairly simple process to get to a selling price that is
both profitable for you and suitable for your market. Here are the steps to pricing your jewelry.
- List the cost of your materials Write down the cost of all the materials you
used to make the jewelry item. Don't forget to include every single item used such as packaging, labels etc. to get to your total costs
(cost of goods sold or COGS).
- Consider the time you put in to creating the item How much time and effort went into designing and making that piece of
jewelry? Work out a rate for your labor and time - for example you may think your time and craftsmanship is worth $20 per hour.
Calculate your labor costs for that specific item of jewelry.
- What overhead expenses were involved What other expenses are involed in running
your jewelry home based business? Consider marketing costs such as craft booth rentals and advertising, travel expenses, printing business cards,
website expenses, equipment costs. Make sure a percentage of these expenses are included in the price of each item.
- Calculate your base price Your base price is your cost of goods sold + labor costs +
overhead percentage. This base price is the absolute minimum selling price of your jewelry to cover all your costs and not lose any money.
- Calculate your final selling price A common method to get your final selling price is to
multiply your base price by 2 or 3. The formula you decide on will depend on a number of factors including where you are selling your jewelry,
competition for your jewelry item and the level of expertise involved in making the item.
- Don't undersell your handmade jewlery Many jewelry home based business owners make the mistake of
pricing their homemade jewelry too low. Very low or bargain prices undercut the value of your creations and give the perception of a lack of quality and craftsmanship in your
work. Have the confidence to price your jewelry fairly but competitively. Good resources for checking out what similar pieces are selling for
are eBay, Etsy.com and on line handmade jewelry stores. Also look at craft fairs. Pay attention to what jewelry items are actually selling for and
not just the listing price.
- How do I market my home jewelry business Jewelry is a very competitive market but there
are a number of affordable ways to market and sell your homemade jewelry. Find out about the different ways you can sell your jewelry at
Jewelry Making Business
What else do I need to start a jewelry home based business?
- Set up a work space at home You need to create a comfortable and convenient area to
make your jewelry at home. It should include storage space for your supplies and a well-lit work table where you can both design and
manufacture your items. You will be sitting for long hours making your jewelry so make sure your work table and chair are ergonomically correct.
Find out more about setting up a work space at
Home Office Design Ideas.
- Choose a catchy business name Your business name should reflect your image as a
jewlery designer and the style of jewelry you create. Your business name will define your work so make sure you choose carefully.
Find out more about choosing a business name at Business Name Ideas.
- Check up on legal requirements for your jewelry home based business
Find out what regulations apply to running a home business in your area. There are certain Federal, State and Local regulations that you
might have to comply with. Find out more about home business licenses and permits at
Small Business License.
Excellent guides to starting a jewelry home based business.
Jewelry Making Ideas
How to Make Jewelry
Jewelry Making Supplies
How to Sell your Homemade Jewelry
Making Jewelry at Home
Your Jewelry Home Business
Consider making money with Jewelry Home Parties
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