How to Start a Jewellery Business: A Step-by-Step Guide

How to Start a Jewellery Business: A Step-by-Step Guide
Learn how to start a jewellery business with this step by step guide. Find out the requirements to start a jewellery business and more with Square.
by Square Feb 23, 2022 — 5 min read
How to Start a Jewellery Business: A Step-by-Step Guide

The desire for humans to adorn themselves with precious metals and stones is as old as time itself. It’s a tradition that continues to this day, though where these decorations were once reserved for the royals, the rich and the famous, these days almost anyone can afford a little bling.

Which makes jewellery a fantastic business opportunity.

If you’re someone who’s always had an interest in the glitz and glamour of jewellery, who understands fashion and design trends and who has an entrepreneurial streak, you might be tempted to join the industry in a professional capacity.

There’s one problem: You’re not sure how to start your own jewellery business. Don’t fret – we’re here to help.

Requirements to start a jewellery business

First things first. What do you need in order to start a jewellery business, apart from an interest in jewellery?

Skills and knowledge

The depth of skills and knowledge you need will depend on the type of jewellery business you plan to start. You might need skills and knowledge in:

Licenses and permits

The good news is that for the most part, selling jewellery is much like selling any other fashion item like clothes or shoes. You won’t need much in the way of licences and permits, although there may be a couple of regulatory boxes to tick:

Insurance needed for a jewellery business

We’ve all seen the movies: a burglar somehow breaks into a heavily guarded store or gallery and makes a thrilling escape with a suitcase of rare gems. While you probably won’t have to worry about a Hollywood-style heist, insurance does cover you against far more likely and potentially debilitating events.

Deciding the type of jewellery to sell

Rest assured the next step on your jewellery journey is more fun than insurance. It’s time to choose exactly what you’re going to sell.

Jewellery is a competitive industry. There are a number of established players and a huge amount of small businesses looking to make it big. The best way to stand out in such a busy space is to find your niche. Choose a specific type of jewellery, aimed at a specific type of customer, and do it better than anyone else. This also makes stocking, marketing and running your business far easier (but more on that later.)

Jewellery businesses can be largely grouped into two categories:

Fine jewellery

Fashion jewellery

There’s a lot of grey area in between these two categories, such as the hand-crafted yet affordable jewellery that you’ll see on a site like Etsy, but the main point still stands: find your niche, do it well.

Essential equipment needed to start a jewellery business

What equipment do you need to start a jewellery business? The answer to this question depends on whether you plan to buy your stock or make your own.

Hand making jewellery is a complex and costly exercise in terms of equipment. Each of the following techniques demands its own set of tools, and this is by no means a comprehensive list of ways to make jewellery:

Jewellery resellers, on the other hand, simply need display hooks and cases, and potentially some tools for jewellery modification, including:

How to find jewellery suppliers

Business registered and licensed, niche found and equipment bought, you’re edging closer to opening the doors of your jewellery business. But before you do, you need something to sell. You’ll need to source suppliers, whether of premade jewellery or the materials you’ll need to make your own.

There are three main ways to find suppliers:

How to make jewellery

There’s a romance to creating your own jewellery pieces, and when done well it can be a super fulfilling job, both personally and financially. But as mentioned above, making your own jewellery will demand a serious investment of both time and money. You’ll need to:

Take a course in the specific area of jewellery making that interests you. Will you work with metals, gemstones, or more exotic materials? Do you have a certain style of jewellery that you hope to create?

Invest in the tools and equipment that your niche demands. You also need to invest in a well-equipped workspace where you’ll be able to create your pieces.

Consider protecting your creative work – see this article on design rights vs copyright.

How to market your jewellery business

Payment solutions for jewellery businesses

Now that you know how to start a jewellery business, what’s stopping you? If you’re ready to create and/or sell the most stunning of pieces, our team at Square is ready to help.

Square
The Bottom Line is brought to you by a global team of collaborators who believe that anyone should be able to participate and thrive in the economy.

Related

Keep Reading

Tell us a little more about yourself to gain access to the resource.

i Enter your first name.
i Enter your surname.
i Enter a valid email.
i Enter a valid phone number.
i Enter your company name.
i Select estimated annual revenue.
✓

Thank you!
Check your email for your resource.

x
Results for

Based on your region, we recommend viewing our website in:

Continue to ->