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  Q1: Do you know of any jewelry companies that have grown significantly? (2 pieces of advice)

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  by nicholeati 

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  11.01.08 | 02:42 PM

  There was an article in my local paper a few days ago about a couple who grew their jewlery business from making things for frineds to the high 6 figures in a few years. Their main lessons they wanted to pass on where: 1) don't under price your goods 2) have both bread and butter pieces and high end pieces and they get to where they are now by attending trade shows and attracting buyers like Sundance magazine, New York Museums, etc.

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  by pandora442 

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  10.31.08 | 02:18 PM

  Huge corporate jewelers grow and shrink every year. Below is a market growth study on the UK Jewelry market. Notice how much it has grown
  http://www.signetjewelers.com/pages/205/UK+Jewellery+Marketplace.stm
  However the homemade jewelry market is far more fragmented and harder to track. It is for this reason it is hard to put an actually rate as to how fast or slow the market is growing.
  http://www.allbusiness.com/retail-trade/apparel-accessory-stores-womens-specialty/4240275-1.html
  The economy isn't helping at all. The article above talks on the different slow growth for different supplier in the US. Ever since 2005 the market has really slowed. The reason for a lot of this is companies like Costco and Sam's offering Gold and Platinum selections at a more discounted prices.
  So really the amount or number of major jewelry companies that have grown significantly could vary depending on their market and the types of jewelry they sell.

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  Q2: What advice would you give to an artist with very little business experience? (3 pieces of advice)

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  by nicholeati 

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  11.01.08 | 02:38 PM

  Contact your local chamber of commerce and see if they offer any business classes. I took a NxLevel class at my chamber that helped me write a business plan, get funded, and start my business. Do as much research and learning as you can: books, seminars, classes, asking others who have "been there/done that".

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  by pandora442 

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  10.31.08 | 02:11 PM

  Don't get intimidated! starting a business from the ground up is not as hard as they say it is. The first thing I would do is to start a website. There is no need at this point to even think about opening a location. The overhead would be to much to take care of initially.
  http://www.entrepreneur.com/startingabusiness/businessideas/evaluatingyouridea/article57102.html
  The link above talks about alot of things to know for starting your own business, however one of the most important is definitely marketing--business cards, logo, brand name, etc. These are all elements to any successful online business.
  Here is some additional information.
  http://www.score.org/starting_your_business.html
  Also, try thinking about a mentor or partner if you are still thinking about opening a phyical location. Perhaps you could find another business which offers complementary products like make-up for instance. Hope this helps.

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  by buscan1 

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  10.28.08 | 10:57 AM

  I would first suggest that since you don't have very much business experience, I would go to your local boutique shops that sell local art or handmade jewelry. I would then ask them how one would go about putting their products on their shelves.
  
  You can do this with as many of these stores as you like. I would also set up signs and business cards wherever you display your jewelry around town. So that people will know who the jewelry maker is, as well a way of contacting you via e-mail or website (you should make a website).
  
  Once you have built up a customer base, product line and business experience, I would then go about opening my own boutique jewelry/art store in an artsy district in town. You could expand your products from just jewelry to other types of art. Since I know that you are an artist, I'm sure you can and would like to do this.
  
  But just like any business, you need to advertise and market yourself. You need to go to the art festivals and set up a booth for yourself in your community as well as the surrounding ones. You need to…more build up a website where people can purchase your art online, especially if you run out of a certain product in one of your stores.

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  Q3: Do you know of any non traditional forms of jewelry that may appeal to high school and college students? (1 pieces of advice)

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  by pandora442 

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  10.31.08 | 02:04 PM

  There is really no sure way to determine what youth markets are into b/c they change so frequently. However I can tell you if you know where they regularly shop, you will start to pick up on what they like. Understanding your customer makes you understand what you need to sell.
  My advise would be to pick a day during the week you can go to the mall and observe different young people and what they are into. Preferably on the weekends, since their is no school. Watch for the stores that have alot of young traffic, study the accessories and what teens are looking at and possibily purchasing.
  This will give you a huge leg up as to what the market will be doing. Below is a list of current ones that are popular. Good luck.
  http://teens.lovetoknow.com/Teen_Clothing_Stores
  

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  What advice do you have to help me grow my idea?
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  by pandora442 

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  10.31.08 | 01:57 PM

  http://www.stitchingcow.com/about/useful-resources/beading-and-jewelry-making/where-is-the-best-place-to-sell-homemade-jewelry
  As the article above explains finding the right place to sell jewelry can be difficult and designing surveys and other materials to properly study the market a.) takes time b.) is really expensive. So where does that leave you?
  Knowing where the customer is and what she is going to shop is everything. I can tell you from my own observation, home made jewelry markets span from boutique stores to flea markets its just deciding where you think business will come from.
  My advise would be to continue selling locally, but as you do this maybe take a couple of trips around your state and figure out where similar products like yours are selling. Another idea also, might be to find out which specific pattern are more popular so you know which to carry more of.
  You might also want to try starting up a website. This could greatly increase your business without having to open up a physical location right away.

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