Our guide on starting a jewelry store covers all the essential information to help you decide if this business is a good match for you.
Learn about the day-to-day activities of a jewelry store owner, the typical target market, growth potential, startup costs, legal considerations, and more!
A jewelry business makes money by fabricating and selling jewelry.
Customers typically pay a set price for the piece which is based on the cost of metal, gemstones, labor for fabrication, and jeweler’s markup. You can run it out of a home or garage or rent a small office or building.
Recording your various expenses and sources of income is critical to understanding the financial performance of your business.
Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.Most businesses are required to collect sales tax on the goods or services they provide.To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.Costs vary, of course, depending on the size and scope of your operation.However, a full tool set may add several thousand dollars to the overhead cost.If you hire employees, workers compensation insurance may be a legal requirement in your state.Your brand is what your company stands for, as well as how your business is perceived by the public.Grow the business slowly over time as finances allow.After registering a domain name, consider setting up a professional email account (@yourcompany.com).Google's G Suite offers a business email service that comes with other useful tools, including word processing, spreadsheets, and more.Try it for free Establishing a legal business entity such as an LLC prevents you from being personally liable if your jewelry store is sued.