Jewelry Store Business Plan

A jewelry business makes money by fabricating and selling jewelry.

A jewelry business makes money by fabricating and selling jewelry.

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Marketing a jewelry store is usually done via word-of-mouth and local advertising.

Advertising of this type can include anything from explaining your business to those in your social circle and asking them to tell others they know about your business to participating and presenting your jewely at various community events and local fairs.

Costs vary, of course, depending on the size and scope of your operation.

However, a full tool set may add several thousand dollars to the overhead cost.

To reduce the overhead cost, consider bootstrapping your business.

For example, instead of taking on large loans, consider borrowing money from a retirement account, cash value life insurance policy, your own savings, or from a friend or family member.Grow the business slowly over time as finances allow.After registering a domain name, consider setting up a professional email account (@yourcompany.com).Entrepreneurs who enter this industry are usually passionate about metalworking and gemstones and have a good eye for value.Jewelry businesses usually specialize in the fabrication and sale of unique jewelry pieces. Some jewelers will also accept pieces on consignment.Most businesses are required to collect sales tax on the goods or services they provide.To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.Our guide on starting a jewelry store covers all the essential information to help you decide if this business is a good match for you.Learn about the day-to-day activities of a jewelry store owner, the typical target market, growth potential, startup costs, legal considerations, and more!If you already have training in metalwork and gemology, then you probably don’t need to hire help outside of an accountant and other support staff.However, if you’re a first-generation jewelry store owner, at minimum you need staff with gemological training and experience working with, buying, and selling precious metals.