Every jewellery business owner starts somewhere – from the aged, splintered bench in the garden shed or confines of the box room, to the makeshift workshop in the garage featuring the old kitchen table and mismatched chairs.
And as your reputation grows and demand for your creations increases, it may be worth considering starting a fully-fledged, registered business. This process can be challenging, and a lot of first-time jewellery makers may find it daunting, which is why we’ve outlined exactly how to start a jewellery making business.
Read on to discover more…
Before setting up a jewellery business…
Before you launch your business, it’s important to have some jewellery business ideas. What will you call your business? With so much competition infiltrating the industry, you need to think of a name that stands out, that resonates with your customers, and that suits your brand philosophy.
Picking a name for your business
Some jewellery business owners use their name to create their brand. Or, if you’re partnering with somebody else, maybe use both of your names or initials? Or even coin them into a new word? If you’d rather go with something that reflects your brand personality, get some scrap paper and doodle some ideas.
If your sole focus is metal stamping designs, try and incorporate this into your name. Or, if you specialise in necklaces, use that to get the creative ideas going. Eventually, you’ll come up with a unique name that stands out.
In her article in the Jewelry Making Journal, jeweller Mendy Ouzillou recommends the following:
“Be honest and decide how far you want to take your business… we know ourselves and our jewelry better than anyone else and with a little help from friends and family, we can come up with a great name upon which to build a great business” (Jewelry Making Journal).
Picking a logo for your business
Like picking a name, picking a logo for your jewellery business is equally as important. Your logo is an opportunity to tell your brand’s story and create your persona, while being open for interpretation by the big wide world.
There are a few different types of logos you might want to consider for your jewellery making business, such as:
- Illustrative – simple images that convey your brand story, such as a diamond or other gemstone
- Font – will you choose to tell your brand story through a font-based logo? Lots of jewellery making businesses opt for elegant calligraphy
Whatever you decide on for your logo, try and create a synergy between that and your brand name. This will help to create a bigger brand story that can help your customers remember you. Choose your theme colour and logo size wisely!
Setting up any new business involves legalities. When it comes to starting a jewellery business, you need to consider the following:
- Tax obligations. If appropriate, hire an accountant
- Because you’ll be working with precious metals, you need to make sure yours are correctly hallmarked (you can do this at your nearest assay office) Find out more about hallmarking with our guide: Do you need to hallmark your jewellery?
- Register – depending on the type of business you’re looking to set up, registration may differ. If, for example, you’re setting up as a sole trader, you’ll need to consider your annual turnover in terms of VAT, and your sales and expenses records
You can discover more small business advice about starting up at Gov.uk.
Other small business tips
There are some other considerations to make when setting up a jewellery business. Where will you operate from? Do you need to rent a commercial building? Or will you be starting a home-based jewellery business?
Will your business have a website? In this digital day and age, having a website will maximise your opportunities and broaden your business’ reach. Read our article on setting up an online jewellery business for more information on building a site that works for your business.
With so much to think about while setting up a jewellery business it helps to access all the advice you can get. Check out one of our books The Creative’s Guide To Starting A Business for more useful tips on writing a business plan, identifying your customers and getting to know your competition.
Looking for even more information and advice on getting your jewellery business up and running? Check out our latest articles dedicated to small jewellery business owners in our business advice hub.