How to Start a Business Making Jewellery

Jul 23, 2020
12 minute read
From the correct jewellery making supplies to how to market your brand, read on for the ultimate guide.

Whether you’re a hobby jewellery maker, a skilled artisan, or a jewellery lover with no experience making it yourself, you may have wondered if you have what it takes to start your own business making jewellery. While there is no shortage of competitors out there in the jewellery industry, the good news is that jewellery is a deeply personal item. Since it is often purchased as a reflection of personal style or for sentimental purposes and meaningful occasions, there is room for new niche players to capture some of the market if they have an appealing product that speaks to their target customer. 

Before deciding if you’re ready to turn your side hustle or hobby making jewellery into a real business, it will be helpful to get a sense of what the market actually looks like today, what category or segment of the jewellery market you’d like to enter, the challenges you might encounter in this industry, and all the steps you’ll need to take to start your jewellery making business and market it to your target audience. We’ll cover all of these important considerations and more.  By the end of this guide, you’ll be ready to take your first steps towards starting your new jewellery brand!

How much opportunity is there for a newcomer in the jewellery industry?

One of the first things any entrepreneur should consider when launching a new business is the current size and state of their target industry. There are pros and cons associated with entering a large, established and saturated market, and the same applies to entering a smaller, newer, less developed market.

Entering an established and saturated market means that you’ll have to work harder to differentiate your product from the rest of your competitors, and one of your major challenges will be convincing consumers who already buy products they like in your category to switch to your brand. However, it also means that you already know people are interested in your product and are willing to spend money on it.

Entering a small, new market means you have the opportunity to capture lots of new customers quickly, and you have less competition. You also might have to work harder to convince customers they should buy your new widget if it is something they have managed to live without until now.

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