Editor’s Note
This article explores the journey from creative hobby to commercial venture, using the growing global jewelry market as a case study for aspiring entrepreneurs.
For many creative people, a hobby like jewelry making is a great way to relax after a long day. But what if your creations start getting attention from friends and strangers? At that point, you might ask yourself: Could my hobby become a business?
Learning to start a jewelry business requires understanding the industry. For one thing: It’s growing. The worldwide jewelry market is expected to reach almost $579 billion by 2033. A huge market, yes, but still one with exciting opportunities for newcomers to find an untapped niche or bring a fresh perspective.
If you’re looking for a creative way to make money, read on. This guide contains expert advice on how to start your jewelry business, based on the experiences of jewelry designers who built their brands from scratch.
Find your niche in the jewelry industry
Research market trends
Define your brand
Produce or source your jewelry products
Set up a jewelry business studio or workspace
Take professional photos of your products
Build your ecommerce store
Market your ecommerce jewelry brand
Scale your business
Follow these nine steps to start your jewelry business.
You can opt for fine jewelry, costume jewelry (also known as fashion jewelry), or something in between. Each category has its own materials, production process, price point, and customer profile.
Let’s look at qualities associated with the main types of jewelry.
Fine jewelry is at the top end of the market and can be identified by the following qualities:
Made with precious metals and gems.
Higher price points.
Made with master craftsmanship.
Rarely mass produced.
For luxury, wedding, and special occasion customers.
Costume jewelry is sold by chain boutiques and online stores. You can spot it by these properties:
Designs based on current fashion trends.
Lower price points.
Often mass produced.
For the everyday customer.
This category captures everything in between. Handmade jewelry requiring specialized skill and mid-range materials are found here. Bespoke jewelry will have the following qualities:
Varied materials mixing inexpensive and precious (textile, metals, semi-precious gems, wood, 3D printing, etc.).
Unique designs (collectible, made to order, one of a kind).
Skilled craftsmanship.
Mid-range price points correlated to a designer’s popularity.
Occasion or statement pieces for collectors and gift-giving customers.
Once you’ve narrowed down the broad category for your jewelry business, it’s time to carve out a niche for your products.
Start by defining your ideal customer profile (budget, values, preferences, location, shopping habits, etc.) and decide if your products are occasion-specific (weddings, parties) or intended for everyday wear. This will determine how you market them to your target audience.
Once you’ve narrowed down your market, consider whether you’ll offer an entire product line or focus on a single item. For example, you may want to niche down and specialize in engagement rings, or go broad with a collection of mix-and-match fashion pieces.
Consider the following product types for your jewelry line:
Rings (sized or adjustable)
Necklaces (chokers, pendants)
Bracelets (bangles, cuffs)
Earrings (drop, clip-on, studs)
Engagement and wedding rings
Watches
Toe rings, body chains, and other body jewelry
Piercings (nose, navel)
Also consider complementary products and categories. Jewelry brand Wolf & Moon sells its signature styles in both hair accessories and bags.
Before you start a business, it’s essential to know how to reach your audience. In other words, you’ll need to find a market fit for your products.
Researching trends is one way to validate your chosen market. Read fashion and jewelry blogs and follow fashion influencers and popular TikTok creators in the space to stay on top of trends for the upcoming season.
Look to other jewelry designers for inspiration. And, don’t be afraid to dig into some data. With Google Trends, you can see global search volume for search queries.
Another approach is to analyze adjacent consumer trends.
