If you have a passion for jewelry, and you want to have a business of your very own, you should really set up a jewelry business of your own. It’s a great way for you to dabble in your passion for jewelry, and make a profit as well. However, before you even think of investing money in your jewelry business, you should know what you’re doing, warned Jeremy Millul, the owner of Jeremy Millul Inc., a company that makes jewelry designed for high-end retailers and their clientele. Mr. Millul has traveled to trade shows around the world, building a multi-million-dollar business and connecting with an elite client base. He served as treasurer of the French club during his studies at Yeshiva University. Here are 8 tips for setting up a jewelry business.
1. Choose a Catchy and Memorable Name
If you are going to set up a jewelry business of your very own, you should make sure that the company name is as catchy and memorable as possible. Remember that your company is just starting out, and if the name is forgettable and unremarkable, then you will have a hard time making an impact with your potential clientele. So take some time, and brainstorm a great company name.
2. Create a Great Company Logo
Aside from choosing a company name, it is also important that you create an attractive company logo. When you make your company logo, you should not rush it. If you have an artistic background, you could make the logo yourself.
You could also work with a graphics artist to help you come up with your logo. When it comes to brainstorming your logo, it should not only be aesthetically pleasing but have personality as well.
Remember that your company logo should represent your company, and everything it stands for. If your jewelry is meant to be a high-end brand for the rich and famous, then your logo should signify that. Overall, it is imperative that you put in a lot of time for coming up with your company logo.
3. Have a Set Budget
Like any other business, you will have to invest a good amount of resources into setting it up. So it is imperative that you have a set budget for all your expenses. By having a set budget, you will be a lot more disciplined with your spending.
4. Choose the Type of Jewelry You Should Produce
Aside from having a set budget, you should also choose the type of jewelry that your company will manufacture. You should be careful in your choice though because once you start mass-producing the product, it will be difficult to change your jewelry type afterward.
5. Come up With a Unique Look for Your Product
After choosing what type of jewelry you will be producing, it is very important that you come up with a design or feature that makes them unique. If you stick to old and generic designs, there is no way your company will stand out from the competition. So take the time to come up with a unique look for all your jewelry.
6. Automate Your Production Line
Although traditional jewelers made their products by hand, this does not mean that you can’t innovate. So if you want to optimize the production process, it is a good idea to have it fully automated.
A few decades ago, jewelry needed to be handcrafted because the details and the material were too delicate for machines to work with. Nowadays though, innovations with robotics have allowed robot arms to handle crafting tools and jewelry with even more delicacy and dexterity as a human hand.
Some companies such as EVS mass-produce quality robotic solutions such as SCARA robot arm, pick and place robot arms, and welding robots for sale. If you want top-quality robotics solutions for your company, you should invest in an established company like EVS.
7. Market your Jewelry
After setting up your manufacturing area, it is important that you market your jewelry as efficiently as possible. No matter how good quality your jewelry, but if your marketing is subpar, then there is no way you’ll be able to sell your products. Luckily there is a myriad of ways you could market your work, such as opening a few Dayton Ohio jewelry stores.
First things first, you’re going to need to set up a website for your company. Consider your website as your company’s base of operations. If potential clients want to look at your wares and prices, they could just visit your website. So it is imperative that your website is as attractive as possible. It is also important that you post high-quality images of your products, because the more attractive your images, the more likely potential customers will buy your products.
Aside from setting up a great website, it is also important that you utilize various marketing methods. Your company is just starting out, so you should avoid costly marketing methods. Instead, you should use social media marketing methods instead. This type of marketing is very cost-effective and you will be able to reach a multitude of potential clients as well.
Through Facebook, you could set up a company account. This will make your company more accessible for potential clients. You could also create an Instagram account and post images of your products through it. Instagram is a particularly effective method, because it is an image-sharing site, and potential clients could see examples of your products with minimal fuss.
8. Make Sure Your Suppliers Are Trustworthy
If you want your jewelry to be of the best quality possible, it is important that your suppliers are trustworthy. Remember that you are going to pay for materials at market value. It would be financially devastating if you invested money in gold, silver, and other raw materials, only to find out that they are fake or low-quality. So you should make sure that you do research on suppliers before you purchase anything from them.
If you are interested in jewelry, and you want to set up a business of your very own, then you should try your hand at setting up your very own jewelry business. With these tips, you’ll be able to set up your jewelry business in the most efficient way possible.