Starting a Jewelry Business

How to Start Your Craft Business Right

Seven Tips on Creating A Home Jewelry Business Plan

By: Preston Ruether

The best business plans in the world were written for the entire dot com on-line businesses just a few years back.

Why do I say they were the best? Because they managed to get more money for the most foolish businesses that ever were! And what happened? For the most part these businesses went bust.

So with all this in mind, when you make a business plan, keep it simple and practical and keep your jewelry business a hobby for as long as you legally can.

Jewelry Business Tip 1

If you're rolling in cash, you need to protect it, so get a corporation formed for your new jewelry business.

But if you're starting out with just the shirt on your back, keep it simple and go to your bank and have a DBA (doing business as) account opened. It's simple and cheap--In other words it's a sole proprietorship.

Jewelry Business Tip 2

Think long and hard about your business name. If you name it after yourself like "JIMS JEWELRY" you'll get all the praise if it works out but if you go bust, your name will go down with the company.

Jewelry Business Tip 3

How will you expand? Or will you? Think it out and move forward in that direction each day each week. 15 years ago my goal was to make $50 a weekend at a local flea market. It was a reasonable goal. I did it and then went on to bigger goals. Keep your goals in reach.

Jewelry Business Tip 4

What's your Unique Position? What makes you different or better than the guy down the street? Is it better workmanship? Cheaper prices? Think about it.

Jewelry Business Tip 5

What are your weak points and your strong points? You might want to move forward and do the things that require your strengths and maybe get someone else to do the things you dislike. Frankly I like to make jewelry and hate everything else!

Jewelry Business Tip 6

Do you have an online or website plan for now or in the future? Better think about it. The way things are going you just might need an online presence to be taken as a credible business.

Jewelry Business Tip 7

Your every day home business expenses need to be thought out, drawn up, and used as a tax deduction at every possible turn.

Use the tax deductions that are allowed each home business in the great old U.S.A. They can make or break a small business as the years go by if you're starting out small.

For a sample of one of Mr. Ruether's patterns, please visit Faceted Gem Stone Pendant Pattern.

Here are DVD's to help you start a profitable Wire Sculpting Business.