5 Things I wish I knew Before Starting A Handmade Jewelry Business

In this video, I am going to share with you 5 THINGS I wish I knew before starting a full-time career running my handmade Jewelry Business. I hope you enjoy it!

[@tericarson5854]

I recently filed my DBA and sales and franchise tax forms. I'm really hoping to replace my full time job with my full time business eventually or go part time job with my business. After being old "You can't do that. That's crazy" all my life by different people, I finally found courage at 51 y/o to take a step in that "crazy" direction, and only tell supportive people that I'm doing it. You can be very secretive not using your real name.

[@tiffanyyisrael7989]

I'm a small jewelry business owner and started my online boutique back in 2019. My business is just picking up after two years, so my advice to new business owners is to be patient and to invest in your business! Investing in your business means you will have to put alot of time, money and attention into your business. I am a full-time therapist and my income from being a counselor is how I am able to finance my business. ❤️

[@debbiegibson8945]

Thank you for sharing. I’m 72 yrs old and have been hand making jewelry from watching tutorial on KZbin for a couple of years. I would like to start a business, I think. I’m doing my research. Thanks again

[@flyingcheff]

Glad to meet you. I seriously follow ALL new and sorta new makers, I am learning. I highly recommend the book Profit by Design. Your formula brings you to Wholesale (sort of...what about your tools, utilities, insurance, vehicle to drive, etc. Those are real costs). $60 for a pair of handmade ANYTHINGS is dirt cheap. You are worth more than the Etsy formula.

[@leanna107]

Something that had occurred to me at the end of this video is that a person's goal of having the business cover cost of living means that a we can consider how many pieces and how what that goal will actually look like... does it make sense to give higher materials and charge higher or spend time with lower materials and charge lower. I think the answer is, if enough people can afford the higher, then go for quality 🤷🏼‍♀️

[@donnah5378]

Love the sounds of the birds chirping 😊

[@MelL-yd5rf]

Ignore the nonsense in some of these comments. If they don’t like your prices they can always go elsewhere it’s totally fine however you are running a business and it’s YOUR TIME AND MONEY GOING INTO EVERYTHING. Thank you so much for your video, May God bless you always!

[@dpaint6268]

There are so many things to consider when you are pricing. Despite materials and your time, you have overhead and other costs to remember. You have to include your location (whether it be a spare bedroom, or office in your own home or a space you rent separately), your utilities (heat/AC/electricity), internet, phone, accounting service if you use one, advertising, commissions (like Etsy or eBay take), etc. That is the part that the "doubling" your time and materials costs have to cover. Here is my own issue- How can I find quality enough materials to justify the $60 cost from $5 in materials? My biggest concern is I do not want any "findings" to lose their metallic color. How do I keep gold colored things gold over time without actually being solid gold? Same with silver, etc. If you use the actual metals, your costs will go through the roof and then you are competing with top end jewellery stores who can negotiate on a whole different level for both materials and labor (usually foreign). I can get the other parts like beads, pearls, stones, and other components at a good quality and lower price that will last well enough but I have not found the best solutions to the metal yet. I can do bronze, copper and antique gold or silver which seem to last fairly well, but actual gold or silver colored parts (wire, connectors, filigree or other necessary components) do not seem to last well enough to justify the value to the customer. Any thoughts?

[@cookingdownsouthwithcarol8909]

Use Silver filled or gold filled materials. The gold filled will not tarnish. Gold plated will rub off.

[@flyingcheff]

Yes Dave, my thoughts: you are worth MORE, no matter any possible insecurities. Few (percentage wise) jewelers are going to be competing with department stores, etc. Those that want that mass produced crap- I mean jewwlry- can get it. Your work is what counts! Compete with yourself to get better and more confident! YOU will be the factor in your work being enthusiastically embraced. Eschew plated and cheap. Go for silver, gold when you can (have you ever heard of hybrid fabrication?) Ask me if you want. There are buyers who want quality and art and are delighted to pay for it. In fact, I've found that the cheaper my pieces are, the less regarded they are, less valued. I do mid-range work sold in galleries. In some of my pieces for example, I'll use $200 or more of materials, many hours of labor, and the gallery can easily retail them for several thousand. You won't find my work in a department store.

[@flyingcheff]

Also Dave, you can buy a product called Protecta-Clear if you really want to keep using poor (in the long run) quality materials. It is a fantastic sealant protectant.

[@flyingcheff]

@@cookingdownsouthwithcarol8909 I agree with your suggestion to Dave, however, gold filled WILL also rub off, just takes longer. And any scratches that get through to the base metal, will show tarnish. Actually, Protecta-Clear is helpful for extending the life of gold-filled. I hope this is helpful to anyone!

[@dpaint6268]

​@@cookingdownsouthwithcarol8909 thank you for the advice. I agree. Couple of things- These are not very easy to get locally- guess online is my best option there and will require a lager initial investment to ensure I can have it available when needed. Secondly, I was basing my comments on the scenario from the video where she said that the cost was $5 for the materials and she was charging $60 (end price) to ensure her profit. Even with many discounted wholesale suppliers, it is very easy to exceed the $5 in materials without using gold and silver filled components. The issue seems to be finding the clientele who will pay the price that will equal the quality. If they pay less, they need to understand that there item may not hold up as long but if they pay more it may last a lifetime. This is tough for the people in my area want pure gold for pennies. I am more than happy to spend appropriately for quality but have difficulty in the price point needed to make things profitable.

[@artbyedna9210]

Thank you for the reality check and a very honest message! This is EXACTLY right and very true. Much continued success to you! 💖

[@fearlesslionmedia4232]

I was searching videos about Jewelry businesses as a way of inspiration, and this was perfect! I took notes and pondered on how I felt about those different talking points, and I think this helps me to stay focused on the goals that i have for my business. Thanks for the content.

[@MeMyBookAndI]

I definitely agree with creating your own designs. I do crochet and I didn’t know the difference between inspired and copying. I made my my own pattern copying a design from a different crocheter, I created my own pattern but mine looked very similar to hers. And I didn’t know she created that word, which is a made up word (this is what she called her creation). She dm’ed me and nicely told me what I was doing wrong and how she feels and how other creators feel when that exact/similar situation happens to them. I apologised and told her that I didn’t know and that I will be tagging her as an inspiration, she allowed me to tag her and keep my posts up.

[@gia9551]

Not me going to the craft supply store every day to buy one item with the coupon to get good products at better prices🙃

[@elizabethhindman2999]

A tripod would really help with the video quality I'm getting seasick. Good tips though.

[@urjewelrygirl]

Yes haha! This is one of my first videos! Getting way better at quality and stabilization! Have a good one thanks for watching!

[@anothercampervanchannel]

Some good points made Ruby. Well done for sticking with it!

[@grandamcollection9262]

Thank you for the advices. You gained a new subscriber

[@urjewelrygirl]

thank you so much!

[@Jennifer-ex5wy]

Hi!! I have a dream of making handmade jewelries too but i like to make beadweaving ones. If several artists create this kind of basic stitch like peyote stitch can i make it to sell it?? I will use my own beads anyway. Btw, thanks for sharing your tips. Its very helpful especially for starters like me. 😊

[@urjewelrygirl]

Hi there Jennifer! Thank you for watching and so happy the tips could help! Keep it up!!!!

[@flyingcheff]

Yes. Jennifer, (to answer your question) you CAN make it and sell it. Do your own designs and go for it!!

[@kathleen2920]

Jewelry making with beads and stones styles have been done the same LOOK FOR YEARS!! Only diff is name behind the PC OF Jewelry!! Good luck to all of you!

[@tiffanyyisrael7989]

Not quite, if you factor in a variety of bead colors, patterns, and textures, you can create more variety. I have made jewelry using glass beads, wooden beads, beads from other Countries and even beads of multiple shapes and sizes. The variety is there, bit it takes skill and creativity to create a great piece.

[@sanjanaghatwani]

@@tiffanyyisrael7989 i agree

[@aaronramsden1657]

Regarding pricing, value based pricing is great to

[@michelenemechek7942]

Grest video !!!!! Thanks for the info !!!

[@freedomofreligion3248]

Great advice, thanks much.

[@natiatsuleiskiri6063]

Came to find out about jewelry business and listening about 9-5 job 💆🏻‍♀️

[@laurabillson1870]

This is good content - really recommend a tripod and working on the sound quality as that is a bit off putting for watching.

[@urjewelrygirl]

Ya lol this was my first video haha - I get cringy at the quality haha lots of better videos coming very soon

[@Telayers]

Now im thinking if ever I will succeed in this business. Im sick have limited movements and no monthly income. Im planning to borrow money but now im having doubts if I ever can do this.

[@YarivGai_Jewelry]

Important tips. Thank-you for sharing.

[@urjewelrygirl]

Thank you!

[@chickynuggy1574]

Nice tips!!

[@urjewelrygirl]

Aww thank you!

[@urjewelrygirl]

Thanks! Happy to Help!

[@shesoshortie]

Ahh! Pricing!!!!!

[@pocahontasseguinart7099]

What ever you all say I don’t belive you . None of you type of you people .I’ve been in business a long time sence I left high school years ago and yet I’m dissabled. I’m not a starter but years and years no one appreciate anything because I’m born with a disability. Not everyone as that much money . I can’t gain anything because of bad supporters . A lot of you all still starting even In this new generation but I’ve started before you before everyone . It was still the early /late 2000s that I left school at 10th grade . People just need to learn to help others that’s still struggling that’s been years even for starters now .

[@bushrashama6978]

❤️🤗

[@letisometimes]

What about insurance and taxes? Thanks in advance

[@urjewelrygirl]

Taxes! Def gonna do a video on that! That is some information I would of LOVED when starting out my handmade Jewelry business!

[@dpaint6268]

@@urjewelrygirl The dreaded TAXES! I could not believe how much you have to give to the government just to do business! State, Local, Federal, FICA and Sales taxes! OMG! That can be as much or more than you can ever hope to make if you cannot get a good enough following and have the creativity/speed/quality needed to maintain your buyers. Holy crap do they want WAY Too much of your money! It seems, every time money is exchanged the government wants a big part of it. They even tax what has been taxed!!! For example, you make an income- you pay taxes on that. You buy a car. You pay sales tax, licensing, and property tax on the purchase. Then every year you again pay the annual taxes on that property. Then when you go to sell it, the customer AGAIN pays sales and property taxes on that.That one purchase gets taxed over and over and over again. So many things are like that!!

[@khay_m]

@3:31 PRICING :::

[@Linda-qi8iy]

I’m trying to wrap my head around $5 in material $60 cost. I realize you’re an entrepreneur but I don’t think I could do that to people.Labor $25? I think I’ll stick with my clearance, brand-name jewelry, much cheaper!

[@rebeccaramsey1274]

She makes the very most basic wire jewelry and her website says Jewerly in one spot. There's also not much there. No way it's making her a living and no way anything on there takes an hour if she's been doing this five years. I just made complicated (for me) beaded earrings that I've never done before and they didn't take me an hour.

[@tiffanyyisrael7989]

I've been making and selling jewelry for years and it has never taken me hours to make any of my pieces. I have a business and only charge to cover what I have paid on materials and double it to make a profit, but I would never spend only $5 on materials and charge my customers $60. 😳

[@flyingcheff]

@@tiffanyyisrael7989 I highly recommend to you an excellent book called Profit by Design, it helps a lot with being judgemental of others practices.

[@Sam11747]

​@@tiffanyyisrael7989 ​ If customers are willing to pay $60, then that's what the market will bare. No one is forcing anyone to purchase her items. There are some customers that won't look at anything less than a certain dollar amount, because they may not see value in lower priced items; e.g. Gucci vs. Nike shoes. It may take her an hour to make her jewelry or not. The time it took to make the jewelry and acquire the customer for that piece to sell may take an hour. Although setting your price double of your costs may work for some businesses, it doesn't necessarily work for all. I'm starting off in a related industry, and it takes me less than 2 minutes to make and fulfill an order, with my costs being about $1.50, and I'm charging $40+ minimum. The costs for my yearly salary, taxes, benefits, insurance, marketing, equipment purchases and maintenance, training, rent, website, etc. couldn't be covered if I charged $3.00.

[@tiffanyyisrael7989]

Flying Chef, since we live in a free Country, I have the liberty of voicing my opinion wherever I please. May I recommend a book based on the first amendment to you? 🙄

[@belledejour9766]

Hahaha. Point one is the complete nonsense of the e-commerce gurus. Building trust, "They want to know why they want to buy your products" blah blah. If someone makes an interesting item of good quality and there is a group of customers who are looking for something like that, you have a sale. As a customer, I don't buy earrings because some unusual bond of trust has formed before the purchase, I do not need "story". I only see something that interests me, then I check if the quality and appearance suit me. End. Trust built. Point 5, own business really takes a lot of time but please 24/7. You mean you don't sleep?