1. Define your style of jewelry

It is important to define your style. Your style transcends your sense of creativity and influences. It will distinguish you from others and will attract your clients and make them come back again and again. By defining your jewelry style, you will at the same time define your type of clientele. This will have an important impact on your sales.

To help you out, you should ask yourself the following questions: What word comes to your mind when you look at your jewelry pieces? For example: chic, contemporary, vintage ethnic, funky, classic etc. What type of clientele are you targeting? What age range are you targeting? Is it an original clientele or a classic one? Is it an elegant or athletic clientele? How much is your clientele willing to spend for your jewelry pieces etc.

2. Establish your prices

First, you will need to know how much your piece cost you in terms of materials. Keep track of the costs for your beads, strings, findings, etc. You can also establish flat fees for your various finishes.

Then, set an hourly wage. A designer that is just starting usually can ask for about 10$ to 15$ an hour. After having added these two costs, add a profit margin (in percentage). Many designers add 50% to the cost of their jewel as profit.

Example:

• The necklace costs 10$ in materials.
• It took an hour to make at an hourly wage of 15$ an hour.
• 10$ (material) + 15$ (wage) = 25$ (cost)
• 50% of 25$ (cost) = 12.50$ (profit)
• Necklace price: 12.50$ + 25$ = 37,50$

For family and friends, it is sometimes difficult to give a price for our creations. Of course, it is up to you to give them a family discount. However, a rule that works well is to calculate the retail price of the jewel with the previous formula and to take 20% off. That way, you will give them a family price and you still make some profit!

3. Do an exhibition

Showing your jewelry pieces will allow you to test your products. Host a soirée with friends, family members and colleagues to showcase and maybe even sell some of your creations. The goal is for you to be able to target the likes and dislikes of your guests and what they think of the prices you have set. It is usually during these exhibitions that you can learn more on your clientele’s tastes. Listen to their comments, their critiques will allow you to improve your product if needed. You can also find out what styles are more appreciated. Often the pieces that are not necessarily your favorites can become the most popular.

It could be interesting after, to show your jewelry pieces to other people than your family, friends and colleagues because the opinion of strangers can be even more constructive.

4. Stay simple

The most popular, most charming and lucrative designs are almost always the most simple. Don’t forget that every creation is almost always a variation of another. New, innovative designs are quite rare. This does not mean that you should not attempt something edgy, far from it! Develop your creativity, it can become you trademark, but keep in mind to offer a harmonious jewelry piece.

5. Offer quality jewelry

Quality in our industry is a must. Having pieces of poor quality can damage your reputation before it is even established. It is important to take the time to perfect your technique, to shop for durable, good quality materials and beads. This is what will make the difference between your product and that of low price stores, which will also justify the cost of your jewelry pieces.

A really handy trick is to wear the jewelry piece once or twice before selling it to see how it fits and see if it is comfortable, if can resist the trials of everyday wear.