If you want to succeed in any business, there are some laws that you should follow. Whether running a big company or just starting a small business, you must abide by specific rules to find your position in the market.
If you are starting a handmade jewelry business, you might be confused about where to start and how to get your pieces selling. This post share some laws that would help you sell your handmade jewelry. Read on!
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17 Laws on selling handmade jewelry
Starting a business can be too overwhelming as you balance making sales and growing your brand. The following rules might not make it easier, but they will give you some clarity on what to do.
1. Register your business
If you are making jewelry as a hobby, you probably do not need to register your business. You can also evade the registration by establishing the business as a sole proprietorship. However, you will receive the least legal protection if you decide to start your business as a sole proprietorship. This might put your business at risk if it is sued for any reason. Therefore, it is critical to legally register your business and ensure it has full protection in case of anything.
2. Obtain a license
Another law that you should observe when selling your handmade jewelry out of your home is a business license. If you are operating from home, this would not be that necessary. However, if you have a store, you will need a business license to avoid crossing paths with the authorities.
3. Observe other countries’ regulations.
This law is often ignored, but it is crucial for anyone running a business, whether a handmade jewelry business or any other business. When shipping your handmade items to other countries, you need to observe the laws of the other country so as not to jeopardize your business.
Laws that govern businesses and customers vary from country to country. For example, the law bans nickel content in jewelry if you plan to sell your jewelry in Europe or the UK. Therefore, any items you ship there or sell from there should be free from nickel.
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4. Inform the tax office.
Paying taxes is a law that you do not want to miss. Every country requires each business to pay taxes.
Therefore, whether you are running your business at home, online, or via a physical store, it is vital to inform tax authorities and start paying your dues.
5. Obtain an Insurance certificate.
Another fundamental law to observe when selling handmade jewelry, especially face-to-face, is obtaining public and product liability insurance.
This will come in handy when your products harm a third party and you end up in court.
Furthermore, if you will attend craft fairs to sell your jewelry there, most organizers demand an insurance certificate. Even if you are privately running your handmade jewelry business, it is safe and great to get insurance.
6. Settle on a niche
One way to grow your handmade jewelry brand is to narrow down on a niche that you can deliver perfectly. Jewellery is a diverse category, and if you try to appeal to everyone by trying a little bit of everything, you might end up attracting no one.
Finding and picking a particular niche requires you to ask yourself some questions. Who are your target audience and potential customers? Your major competitor? Which style does your target audience like? Which price range will be appropriate for them?
Answering the above questions will guide you in determining which kind of jewelry to make. And once you decide, it will be easy for you to attract your target audience and make sales.
7. Maintain it local
Another key rule to help you sell handmade jewelry is sourcing materials locally. Today’s customers are paying more attention to handcrafted goods. They want to know how the product is made, where the materials used to make it come from, and above all, they are willing to pay a little higher to brands that keep their products local.
The owner of Nancy Markoe Fine American Craft Gallery, Nancy Markoe, has been in the ‘handcrafted’ business for over 25 years. She sheds light on how to succeed in the business and notes that the past few years have seen a sudden shift in how clients consume handcrafted goods. Nancy notes that clients have grown much interest in purchasing locally-made crafts but want more information on how the product was made. They want a reminder of their beautiful area through locally-handmade products.
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8. Establish suppliers you can rely on
If you are going to major in selling handmade crafts, then you will need suppliers. And not just any suppliers, but those who won’t let you down. You do not want to start selling a piece, it becomes your best-seller, and then your suppliers bail out on your or do not deliver materials on time.
It is essential to figure out what you will need in your business and locate the suppliers to ensure you are constantly getting the materials. Besides getting reliable suppliers, consider making bulk purchases as this will save you on costs and hence more profit. Bulk purchases will also ensure you do not run out of stock.
9. Make high-quality pieces
Quality is the only way you can attract and retain customers. To sell any handmade item, you have to put your best foot forward and not focus on using less money, which will probably lead you to cut corners. Handcrafted goods have become more popular, and consumers are looking for high-quality products. Your aim should be to make durable products that can also be repaired to last for a long time in case they get damaged.
However, you should not only focus on quality handmade jewelry pieces but also on quality service. The handmade jewelry business has stiff competition. Therefore, to penetrate the market, attract customers, and retain them, your services and products must be top-notch. Try your best to keep your customers happy by offering the best service and handmade products to them, and you will turn them into loyal customers, and they will refer several other people to your business.
10. Decide on the place to sell your jewelry.
Another major rule you will obviously follow to sell handmade jewelry is determining the store where you will sell your pieces. Whether online or physical, you must determine which place aligns with your needs and preferences. If you are tech-savvy, creating your own website would be your best option.
However, if your pieces are ready and you want to get direct to sales, an online marketplace like Etsy would do great. There is no right or wrong platform when determining a place to sell your handmade jewelry; you just have to weigh the pros and cons and pick a platform that works best for you. Additionally, after picking your platform, work on growing your social media presence to increase potential customers and convert them to customers.
11. Take amazing photographs of your handmade jewelry.
Taking great photos of your jewelry is a marketing strategy that will attract customers. When someone buys a product online, they cannot see it physically or even touch it. Photos are crucial because they will prompt potential customers to inquire about your products and make purchases if they are great.
Take photos of your handmade jewelry focusing on vital features and providing all-encompassing shots from different angles. Branding is key in every business, and great photos will help you with that. You need to consider how you want your customers to feel when they look at your products and choose a background that aligns with your preferences.
12. Track your costs
The only way you will keep a business running is if you keep track of your costs.
This will enable you to determine if your pricing is appropriate, if you are making a profit or loss, or even how you should make purchases of your materials.
When keeping track of your costs, you should put every tiny thing into detail for you to recoup the costs on your sales price. The best way to track your costs is by using software like a spreadsheet.
13. Be flexible
Another rule that will see you selling your handmade jewelry is by being flexible and adapting to changes based on your customers’ needs.
Just because you love making a certain product and love it in your line does not mean it will make a lot of money for you.
Sometimes your best sellers will be your least favorite. Therefore, some things you will learn in the business and have to adjust accordingly for your business to continue operating.
14. Strategic pricing of your products
Pricing your handmade jewelry is a crucial rule that will determine if your products sell or not. Perceived value is a concept you will frequently hear when you are running your own business. Therefore, if you learn how to strategically and competitively price your products, you have already won half the battle in the market. The price of your jewelry should consider the cost you have spent making it and what buyers are willing to pay for such a product. This is a vital step in your business journey, as underpricing will only hurt you and your business, while overpricing will get you nowhere.
15. Be more descriptive
As stated earlier, online customers only get to interact with your handmade jewelry through the photos you have posted and the captions you have put on them. Therefore, you need to give them as many details as possible to satisfy their curiosity about how the jewelry looks. Photos and descriptions of the product are equally important as they are your only tool for convincing your potential customers to buy your pieces.
When describing your handmade pieces, inform your customers of the sizing details, the materials each piece was made with, and any other feature of the jewelry that is essential to help them make an informed decision before making a purchase.
16. Promote your business
Promoting and marketing your business is a crucial part of selling handmade jewelry. Because without that, how will people know your business exists? Building your business by doing high-quality business and waiting for consumers to come does not work this day; therefore, you need to build an online presence that will attract potential buyers to your business.
There are several ways you can use to market your handmade jewelry business. And one way is by building a social media presence, be it through Instagram, Facebook, or even Pinterest. Share photos of your products with descriptive captions and let customers know what your business entails and what kind of pieces you offer. Pay for ads on these platforms to increase your social media presence further.
17. Come up and stick to clear policies.
Running a business will require you to have clear policies and abide by them. It does not matter how huge your business has grown or if it is just starting out.
These rules are meant for you and your customers to follow for your business to run smoothly. Otherwise, a problem will arise, and you will have no idea of which action to take.
Some of the questions you need to ask yourself when making policies on selling handmade jewelry include; will you give refunds? What happens when you make a mistake with an order? Will you need a deposit for custom-handmade jewelry? Do you need full payment before delivery or on delivery?
Clear policies on shipping, returns, custom order, and refunds will make running your business and managing sales relatively easier in the long run.
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Starting off in the business of selling handmade jewelry is not easy, and sometimes you might want a little help. However, this should not discourage you because it is possible to make it in this business. Since several people have been in the same situation, they came up with some laws you should try to follow when selling handmade jewelry. Follow the above tips to sell your handmade pieces.