Jewelry is both sentimental and valuable. When jewelry is broken, it is devastating. A jewelry repair business can fix these pieces of jewelry and help retain their beauty and sentimental value. Owning a business is both exciting and challenging. Most people start their own business to become financially independent and to do what they love. A jewelry repair business, through time and effort, can become very successful and rewarding. With the right tools and with sufficient planning as well as implementing efficient marketing techniques, you can be well on your way to creating a successful business repairing jewelry.
Research the type of services and products you plan to provide through your jewelry repair business. Some repair shops sell used jewelry and service broken jewelry, others service broken clocks and silverware in addition to jewelry repair.
Pick a business name for your shop. Make sure to include the word “repair” in your business name. A business name helps draw in customers and increase business sales. To guarantee a unique business name, look up your chosen business name up in the states business records.
Choose a business structure for your business. Choose whether you want to set your business up as a sole proprietor, corporation, or as a partnership. A sole proprietorship works best for a specialty store like a jewelry repair shop.
Get a business license for your jewelry repair business. A jewelry repair shop requires a jewelry trade license. Make an appointment with a lawyer to fill out all the appropriate paper work for your business license. Fill out the appropriate legal documents and registrations to make your business legitimate and prevent forced closures.
Pick a location to set up your shop. A good location will draw in customers and generate revenue. Pick a location near a jewelry store, as this type of business shares the same target market as your jewelry repair business. Research the area and its demographics. Look for other potential business competition such as other jewelry repair shops in the proximity of your shop.
Hire employees with jewelry repair business and jewelry sales experience. Employees will interact with your potential customers and need to have the proper expertise to carry out a sale. An ideal employee should have jewelry repair certification and jewelry sales experience
Buy jewelry repair equipment. A jewelry repair shop needs special type of equipment for all kinds of repairing. Plan to get abrasives, bergeon, beading tools, casting, and welding equipment when starting your business.
Network with jewelry supply wholesalers and jewelry sale representatives actively. Fixing broken jewelry requires extra jewelry pieces such as different types of clasps or extra gemstones and diamonds.
Market your services and products. Jewelry repair can cater to all demographic ranges. By advertising your services and your business, you can increase sale revenues and customer traffic to your business and creates profits.
Allow for sufficient time when starting your business. Research jewelry repair and network with people in the field.