People often buy jewelry not just for themselves, but to give as gifts or to mark a special occasion, such as a birth, engagement or wedding. Because demand for jewelry purchases is year-round, becoming a jewelry dealer can be a profitable retail business to get into. There are several ways to start a jewelry dealer business, no matter what your budget.
Specialize in a jewelry niche--this will help your focus on a particular target market. For instance, you can sell sterling silver rings, fashion, genuine gemstone or artisan jewelry.
Pick a business model for your jewelry dealer business. You can distribute jewelry wholesale to retailers, sell jewelry via a physical or online storefront, or sell jewelry via home parties. Choose more than one business model to maximize your profits.
Obtain the permits needed to start a retail business in your area. Depending on where you live, you may need a fictitious name certificate (DBA), employer identification number (EIN), resale permit, sales tax permit or state tax identification number.
Secure a venue to sell or store your jewelry. If you plan to be a wholesale distributor, you will need a clean warehouse or space free of dust, dirt and sunlight. Jewelry retailers can sell at flea markets, malls, in a leased building or through home parties. Internet jewelry dealers have the option of opening an e-commerce website, selling through an auction website or an online artisan marketplace.
Buy wholesale jewelry for your business. Contact jewelry distributors and open a wholesale account. You will likely need to provide your resale permit or EIN, and place a minimum order ranging from $50 to $250. You can also build up inventory by visiting auctions, estate and garage sales.
Promote your jewelry dealer business. Launch a promotional blog, start an email newsletter list, send press releases to popular fashion websites, forums, blogs and publications or join a jewelry dealer's network such as Jewelers of America or the Retail Jewelers Organization. In your community, try sponsoring a fashion show at a local college or placing fliers and coupons in clothing boutiques and coffee shops with the owner's permission.
- Jewelry image by Sergey Yakovenko from Fotolia.com