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19 Replies Last post: Apr 25, 2008 6:21 PM by simon07

she wants to start a jewelry making business

Nov 28, 2007 11:05 AM

Click to view simon07's profile Mogul simon07 26 posts since
Nov 28, 2007

This is my first post on the site. I was hoping that someone could provide insight to the following. My wife enjoys jewelry making and is always filling the house with beads, etc. If she could she probably would put a necklace on me. A friend of hers said that she should start a business on this. Now my wife is convinced that this is a good idea. I suggested she start small and start selling to friends, and then maybe approach retail shops, etc. Any other ideas? Also, at what point does this hobby turn into a business?
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Click to view BDS INC's profile Founders BDS INC 131 posts since
Jul 20, 2007
1. Re: she wants to start a jewelry making business Nov 28, 2007 11:08 AM
Welcome Simon!

Your wife has a great business opportunity. I'd suggest her starting with friends and family right now. Get the word out there while people are still holiday shopping. It is a great season to get started.

I'd also suggest you look into getting a website and sell online. Then to your point you can start to approach retail shops, etc.
Click to view MetroGal's profile Mogul MetroGal 83 posts since
Oct 20, 2007
2. Re: she wants to start a jewelry making business Nov 28, 2007 12:04 PM
I agree that it's a good idea to start small. I normally would suggest keeping friends & business separate. But this is different as she's still testing out her business potential. I find that word of mouth is extremely effective - so I'd recommend that your wife make a bunch of her best jewelry & give it as a gift to friends & relatives this holiday season. They will all be like walking advertisements for your wife. I know when my friend has something on really cute - I will ask - "Where did you get that? I want one too!"
Click to view Ed O'Gee's profile Mogul Ed O'Gee 215 posts since
Oct 25, 2007
3. Re: she wants to start a jewelry making business Nov 28, 2007 12:12 PM
BDS hit the nail on the head, start with the web and specialty stores. You guys should start there, gauge the market then move on to larger business. Another novel place to look at are beauty salons. In addition to being places where people gather to get haircuts, facials, etc., it's also a place where people gather, talk, network.

Find some local salons in your area and see if they will carry your line.
Click to view CorpCons08's profile Mogul CorpCons08 1,129 posts since
Nov 14, 2007
4. Re: she wants to start a jewelry making business Nov 28, 2007 12:13 PM
I would be more than happy to speak to your wife about planning for a jewelry business. We can speak about the various options she has and decide what route she wants to go.
Click to view Lighthouse24's profile Mogul Lighthouse24 2,089 posts since
Oct 10, 2007
5. Re: she wants to start a jewelry making business Nov 28, 2007 2:03 PM

I agree with the suggestions offered above. In addition, most communities have venues (fairs, craft malls, fleas markets) where she could get an inexpensive booth or table to sell items like this.

To answer your last question, her hobby becomes a business when she engages in it with the expectation of making a profit. From a practical perspective, it makes sense to create a separate business entity (even if it's just a sole proprietorship) when she starts incurring business expenses (for example, buying more supplies or renting booth space) and starts generating revenues. She has to report the income either way (whether it's a hobby or a business), but can only deduct the expenses if it's a business.
Click to view LUCKIEST's profile SCORE LUCKIEST 5,293 posts since
Aug 6, 2007
6. Re: she wants to start a jewelry making business Nov 28, 2007 4:11 PM
Simon, You have gotten some great answers.  Lets try another approach.

Develop a business and marketing plan. A business plan is a guide as to how you plan

on starting and developing a successful business.

Anybody going into business can get FREE help from SCORE both in person and on line.

Anybody going into business should register with the I R S (you can register on line at IRS.gov).

That will get you a Federal I D Number which you will need to buy wholesale and open a bank account.

Good luck, LUCKIEST
Click to view simon07's profile Mogul simon07 26 posts since
Nov 28, 2007
7. Re: she wants to start a jewelry making business Nov 28, 2007 5:22 PM
in response to: LUCKIEST

Luckiest thanks for the feedback on a business plan. If she starts getting a lot of traction I will suggest that she check out the resource you reference. Meanwhile, she will be testing the waters. I am glad that she has found a hobby that may produce some profit. It should be fun for her and extra income never hurts the household.
Click to view naveen's profile Professional naveen 16 posts since
Dec 8, 2007
8. Re: she wants to start a jewelry making business Dec 8, 2007 2:26 PM
E shop is a cheap and best solution for her.
Click to view Lighthouse24's profile Mogul Lighthouse24 2,089 posts since
Oct 10, 2007
9. Re: she wants to start a jewelry making business Dec 11, 2007 2:28 AM
I saw someone at a festival this evening selling holiday jewelry and wondered about your wife's business. Was any of our input helpful? Have you moved forward? Thanks for any updates you can provide!
Click to view simon07's profile Mogul simon07 26 posts since
Nov 28, 2007
10. Re: she wants to start a jewelry making business Mar 3, 2008 6:50 PM
in response to: Lighthouse24
all the suggestions were helpful. It's been awhile since I have checked back with everyone on this site. You get busy these days. She actually is selling her jewelry to local stores and at a nearby kiosk (mall cart). She doesn't own the cart but is providing some of the jewelry that is sold on the cart. It keeps her busy and motivated so it's a good thing. Not sure if we're ready for the online sales thing yet. We'll just keep it local for now via the crafts fairs, etc. thanks for all the advice.
Click to view banyanstore's profile Authority banyanstore 10 posts since
Jan 30, 2008
11. Re: she wants to start a jewelry making business Mar 4, 2008 12:02 AM

HI,


in case she can sell our silver jewels too in local stores it will be good for both of us ....... just think over it we are not having any agents in USA so far.

BEST OF LUCK


naveen

www.banyanstore.com




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Click to view Lighthouse24's profile Mogul Lighthouse24 2,089 posts since
Oct 10, 2007
12. Re: she wants to start a jewelry making business Mar 4, 2008 11:15 AM
in response to: simon07
Simon07, glad to hear it is going well. Thanks for posting the update!
Click to view designer's profile Mogul designer 328 posts since
Feb 28, 2008
13. Re: she wants to start a jewelry making business Mar 7, 2008 2:19 PM
Hello. It would be interesting to hear how your wife is doing these days and if the fire and passion with her "beads" is still there for her? If so, it would not be a bad idea to seriously think about what path she may want to go down. I am a die-hard designer and believed in myself enough that I invested in my own web site. It was expensive but after you do the initial investment with materials, supplies, a Webmaster and a Graphics person, etc. then it's just a matter of maintaining everything and keep it fresh. If the household budget is tight, there are still some very professional ways to get exposure and sell product. There is eBay which is suported with Paypal and the feedback system. I also have some friends that are using a site called "Etsy". It is a very crafty site...very Sundance Film Festival-like and everyone is knitting, beading, making tee-shirts, designing greeting cards over there. It could also be a way to go. I can tell you for a fact that most family and friends will definitely support a business in the very beginning but eventually over time a crafter or designer will have to start getting new clients and prospects to carry them through. It's not easy. The jewelry field is competitive. You almost have to have a unique theme or style to stand out from the rest. Your wife should not take anything personally because there are relatives and neighbors that won't buy anything. You just have to remain positive, keep a great attitude and keep taking baby steps forward to reach her goals. Good Luck!
Click to view brownie's profile Start-up brownie 2 posts since
Mar 7, 2008
14. Re: she wants to start a jewelry making business Mar 7, 2008 4:09 PM
I, too, have hobbies that make me money and are now being sold in my store! I got started at local and surrounding fairs where I could rent booth spaces for 45.00-2000.00 with abasic business card with my name, #, and info about delivery. I also wore some of my own products and carried extra in my purse because someone was always buying my magnetic freshwater pearl and gem bracelets off my wrist!! I went grocery shopping and showed one to the meat market mngr.; he ended up buying two for his wife! Start small, but be ready to grow!
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