There are many different ways of sourcing and selling your jewelry for business, from selling your own handmade silver jewelry to buying from jewelry wholesale distributors or jewelry artisans and selling at a profit. You can even combine several sources to increase the variety of products you stock, helping you reach a wider range of customers. If you want to start an online jewelry business consider the following business models:
Selling Handmade Jewelry
If you have an eye for design and consider yourself capable of creating unique and beautiful pieces, selling your handmade silver jewelry can be a great way of generating some extra income. Over time, as you get more and more loyal clients, you can branch into the most profitable areas of bespoke jewelry created on demand, or source products from other likeminded artisans to keep your jewelry shop stocked. Other profitable items to sell are handmade beaded jewelry pieces, and even using old and broken jewelry to create vintage costume jewelry.
Buying Cheap Jewelry Wholesale
Buying cheap and selling at a profit is one of the oldest business models, and it still works just fine for jewelry. One of the main benefits of an online jewelry business is that the margins are quite high, provided you can find unique jewelry items that aren’t easily found elsewhere. Learning how to find wholesale jewelry distributors can seem challenging at first, but over time your website will be producing revenue without you having to actually do much besides choosing the right stock and posting it to your clients.
Opening a Franchise
Some jewelry brands run on a franchise model, where they recruit “associates” or sales people to sell their goods. You won’t really be stocking any jewelry yourself, but getting orders from your clients and placing them on their website. You often need to invest a certain amount of money first to get training and demo items, but it represents a much lower investment than buying real stock for your online jewelry store. This can be a good way to get started on the jewelry business and see if you actually enjoy selling jewelry as a job.
You can find wholesalers that offer dropshipping services along with traditional wholesale cheap jewelry. Dropshipping works like franchising, but you are actually doing a business to business transaction and your clients won’t know that there’s a dropshipper involved. When a client places an order on your website, you place an order and pay your dropshipper, who will then send the products to your client and sometimes deal with returns and missing items instead of having to do it yourself. The margins on dropshipping aren’t as good as with wholesale jewelry, and often you need to pay a fee to use the dropshipping services, but it’s a great way of testing which products sell and which ones doesn’t, prior to making the investment of buying large amounts wholesale.
Many online jewelry businesses use a combination of the above business models, depending on the particular jewelry pieces they are stocking and fluctuations on the market, but the two most popular and well-known ones are selling your own handmade jewelry and reselling cheap wholesale jewelry, as they are the ones with the highest margins.