Do you have a knack for creating one-of-a-kind bracelets? Are you known among your circle for your skills in designing original jewelry? Starting your own business selling handmade jewelry could prove to be lucrative if the price is right and you can create a name for yourself.
1. Find a Niche for your Bracelet Business
Specialize in stones that offer healing properties or mood rings. Or focus on creating personalized birthday bracelets using birthstones, or in themed or seasonal bracelets. Leather cuffs or bracelets made from synthetic materials are another option. Use sterling silver, Swarovski crystals, tiny photographs or fun accessories such as mini charms to further separate your bracelets. Ask friends, family members, church members or your daughter’s girlfriends for feedback.
2. Take Care of the Sales Permit
Obtain a sales tax permit and federal tax identification number. You will need the federal tax ID to attend craft shows and buy wholesale. It may be necessary to purchase liability insurance. In the event that a customer is hurt by one of your bracelets, you could be held liable. Call your bank or insurance company to get connected to a business insurance provider.
3. Create a Budget
Research the cost of the beads, stones, jewels, wire and materials that you will use to design your bracelets. Detail these costs, along with the cost of owning a website, liability insurance, materials for your photography studio, packaging materials and fees for selling on other sites such as Etsy or eBay in a spreadsheet or accounting software program. Then create a price list that will result in enough profit to make starting a bracelet business worthwhile.
4. Create a Work Space
Create a workspace and photography studio within your home. To capture the detail in your jewelry, find a spot with excellent natural lighting. Invest in a background that will compliment your jewelry.
5. Get a Professional Logo
Design a professional yet fun logo for your business and create tiny price tags that can be attached to each bracelet. Purchase secure packaging materials to ensure that your bracelets won’t become damaged in transit. Check online and off to find the best deals on your supplies, beads and materials. Use a rewards card or credit card that offers rewards to further offset the cost of procuring supplies and inventory.
6. Set Up a Website
The best way to sell bracelets is though a website, so find a web host that will offer you the most for your buck. For less than $20 a month, you should be able to find a web host that will provide you with adequate bandwidth, a business email address, free templates, marketing tools and constant customer service. Refer to the Resources section for a list of popular web hosting companies.
7. Market your Bracelet Business
Contact local gift shops and consignment stores about selling your bracelet line. Attend craft shows. Read industry magazines for information on upcoming shows and events. Social media, and especially image-heavy sites like Instagram, provide an invaluable way to get your product in front of customers and build a loyal fan base.
Things You Will Need
Sales tax permit
Federal tax ID
Beads, stones, jewels
Well-lit photo studio
Contact UPS, FedEx and the U.S. Post Office to find out which shipping method is right for your needs.
Understand your tax responsibilities as a self-employed person. Speak to a tax professional if necessary.
Set up a separate account or use a different credit card for your business purchases. Always keep business and personal expenditures separate.