Jewellery is an industry that is kicking off this season. While the start of the lockdown had many hobby enthusiasts tap into their creative notes, giving birth to many Instagram and online stores. Check out these 5 hobbies that you can convert into a full-time business, click here. Thrifting and revamping outfits, resin and clay works, home bakers and tiffin services have launched the careers of many. And they have been quite successful.
Jewellery has always been a part of Indian culture and therefore there is a huge demand for it in the Indian market. Earlier the need for pure gold or silver jewellery was the only demand, but now as their prices hike and them being precious metals, there is a need for everyday imitation jewellery.
And if you are planning to start a jewellery business from scratch, we mean making the jewellery yourself, then you have reached your destination. Here is your easy guide to starting one.
The founder of The Line, Natasha Khurana shares her tips for young entrepreneurs saying:
- Start small
- Go slow
- Keep your head to the ground
- Find your people
To know more about how Natasha started her venture, click here.
10 Steps To Start An Online Jewellery Store
1. What’s Your Niche?
One of the first questions to ask yourself is: fine or fashion? Or maybe your interest lies somewhere in between. Each category has its own materials, production processes, price points, and customer profiles. Fashion jewellery is more trendy and made with inexpensive materials like wire or crochet jewellery. Fine jewellery is made with precious and semi-precious metals and gems, falling on a higher price point. Pick something that you enjoy doing and know your audience would like. Recently a lot of jewellery users have been drawn to clay and gold plated jewellery.
2. Supplies And Materials
Handcrafting jewellery can be one of the most unique production methods. Depending on materials and design, some methods of jewellery production require specialized training/certification and expensive equipment. There are several online resources for learning the art and finding wholesale jewellery making equipment, tools, and supplies including precious gemstones and raw metals. If not, you can ask around craft stores and markets in your town.
3. Self Designing Or Hiring Designers
You need to decide if you are creating your own jewellery or hiring a designer to create them. Either way, you need to learn and have an understanding of the business. Sign up for jewellery making classes, do a study of the processes and how to. Make sure you are well versed in the field before setting up your store.
In terms of learning the art, Dhwani Bansal, a jewellery designer from Bangalore suggests, “Doing a program in person at University is better than online courses. It cannot give you the same experience. For gemstones, GIA is the best, and for designing and making-University of the Arts London, Royal College of Art, Goldsmiths are good options.” Click here to learn more about the famous jewellery designer.
Even though you are starting small, you need to be organised. Jewellery making consists of many tiny tools and sharp equipment. So you can’t have your bed as your workspace. Set up a separate table with drawers and storage units so you don’t lose or misplace stuff. It is safe, easy and organised.
5. Business Planning & Funding
Decide what are your priorities and write down those in a few sentences before starting your business. Start with writing your business plan, pay attention to the following points. Determine who your target customers will be. This will help improve your choice of jewellery designs and marketing. Think about creating pieces that stand out from your competitors’ jewellery items. Prioritise and set up funds to invest in your business. Plan it out properly and do a test drive. Don’t invest all your money in one shot without checking the market.
6. Photography & Summary
Pictures speak a thousand words. A well-styled, high definition image picture is more appealing to the customer than a shabby picture. If you intend to tell rings or necklaces, google a few jewellery styling images, you can also check out Pinterest. And try mimicking them, eventually bringing in your own style. Along with the picture also write what the product is. For example, if you are selling a gold and pearl earring, you need to mention the details like- an 18k gold plated earring with freshwater pearls. The customer needs to know what they are buying.
7. Online Platforms & Creating Websites
Instagram has helped a lot of small business owners in gaining a huge following. It is easy to function via social media and to reach out to potential customers. Gaining a steady following and buyers is crucial for your business.
The founders of Zariin Jewellery, Mamta and Vidhi Gupta say, “Never underestimate the importance of great customer service. Your customers will become the apostles and champions of your brand when you go the extra mile for them to ensure their satisfaction.”
And building a space/store on social media platforms ensured a healthy and interactive customer relationship. You can surely expand to building a website later if you want. Check out the sister founder duo’s story on how they founded the jewellery brand here.
8. Influencer Marketing & Promotions
If you are a small business owner, in any arena, you need to learn how to make your brand heard and seen in the particular industry. And thankfully there are tools available on social media platforms that you can use. You can use their promotions option for your well-performing images or products. Hashtags go a great way, add all 30 hashtags on your posts. You can also try influencer marketing (barter system). Send a few products to one of your liked Instagram influencers and have them post in on their story, tagging you.
9. Networking & Exhibitions
When it comes to building your brand, networking is the key. Dhwani Bansal suggests networking through college alumni groups, as they are very powerful, along with LinkedIn, and Instagram. Organisations like FDCI and GJEPC, and various other design communities like the Crafts Council also work.
One can also set up their stalls at exhibitions and fairs. Many exhibitions allow you to rent out a stall to sell your products. This is a good way to network with customers and build a huge following.
10. Set Goals & Fulfill Them
When you start your business, remember to keep a goal in mind. And work towards that goal. Have everything set before launching your brand. Product pricing, sales, promotions, delivery methods and connecting with customers are just a few things that you need to keep in mind. And also set a goal for the sales and numbers, and complete them in a set time. Having goals helps you motivate yourself and keep working hard.
Jewellery making might have been a childhood hobby where you would string together colourful beads. But you can take that hobby and start your own jewellery business. Starting any business from the ground up is hard. It takes a lot of time, hard work and money. But if that is your dream, then you must go for it! This is a beautiful space to be in and to set up a brand that is unique, you have to be fearless with your designs.