How to Start Handmade Jewelry Business in India?

Creating a piece of jewelry could be a hobby for many people and is fun and relaxing after a long day. But what if your creation starts getting attention from friends and strangers? You may think why not turn this hobby of creativity into a thriving business venture?

Some of the big box brands of jewelry dominate the market but the good thing is that there is still a demand for handcrafted jewelry and 49% of consumers prefer to pick up their jewelry from small handmade jewelry businesses.

Handcrafted jewelry is in growing demand and you need a deep understanding of the industry.The Indian jewelry market has a compound annual growth rate(CAGR) of 8.41% from 2023 to 2029. The market was valued at USD 80.51 billion in 2023 and it is expected to continue growing . So the handmade jewelry business has extreme potential for newcomers who can tap the niche or bring in fresh perspectives into the craft of handmade jewelry business.

So if you are planning to venture into a creative way of making money then read on. This blog contains some expert advice on how to start a jewelry business and some tricks for selling handmade jewelry designs. Interested ? Let's go.

How To Start a handmade jewelry business?

1. Draft a swift Business Strategy

A business plan needs to be written quickly for your success in your business of handmade jewelry. For this business, the operating costs are a little high in the beginning as you may have to invest in some operating costs to procure raw materials like precious metals and findings. 

While the business can start with a basic framework which means that you can keep refining it as you learn and progress in your handmade jewelry business. Whatever funding you would require, whether self finance or bank finance for your handmade jewelry business, it is important to be detailed in your business plan.

Here is a list of some general rules that you may keep in mind to while making your handmade jewelry business plan:

• Goals and objectives (what do you aim to get out of starting your own jewelry business?)
• how you plan to achieve them (the methods between now and selling your jewelry successfully- your marketing and branding strategies to be planned as well)
• your target market (who are you going to sell your jewelry to?)
• Where are you going to sell your jewelry products?
• a breakdown of expenses and other operating costs, and estimated cash flow

Once a business plan is in place, you can set guidelines with a jewelry manufacturer, calculate the

number of products you need to manufacture, and get an idea of your path to profitability.

2. Research about competition

It is very important in your business of handmade jewelry making to map competiition especially because the market is growing rapidly and there are thousands of jewelry making units running successfully that may likely be similar to your offerings in some way. 

You can design your queries in the following in the following way if you want to:

• Map what other jewelers are selling
• The price and quality of jewelry of others 
• Which channels are they selling on (Etsy? Shopify? ? Faire? A combination of all?)
• what kind of reputation do they have you can check out their ratings and comments for a good source - like you want to know their speed of delivery to customers and timelines and reliability)
• how are they marketing their products (are they appearing in search results?)

The information to the above shall help you to refine your business goals for your 

wholesale handmade jewelry business. With more information on your competitors, you will be\

 more confident in your products to your target audience at a strategic price.

3. Defining your handmade jewelry niche.

This step is very crucial as this focuses on choosing your niche. This is a cautious step as 

deciding on your niche amongst an industry full of niches and sub-categories is not easy. Aso

It would take some time to go through the various types of jewelry designs and categories in 

the market before you confirm your chosen niche. You can decide what you wish to focus on like 

bracelets, necklaces, earrings or all kinds of handmade jewelry designs. Some common types of jewelry brands may help you determine your choce:

The above table can help you decide on the niche for your unique handmade jewelry design and 

furthermore you can also decide if you want to be a batch production jewelry maker or a made-to-order 

one. Here are some key differences in the categories:

• Made-to-Order Jewelry:
  • Each piece is unique and customized for the customer.
  • Usually more expensive due to customization and craftsmanship.
  •  Caters to Customers willing to pay a premium for one-of-a-kind or specific designs.
  • Suitable for niche people seeking exclusive, personalized pieces.
• Batch Production Jewelry:
  • Crafted in bulk, often making it less expensive.
  • Appeals to a wider audience, including budget-conscious customers.
  • Once the product range is finalized, you can focus on refining production processes to fine tune costs and margins.
  • Offers the option of outsourcing production to grow efficiently, especially with well-documented processes (Standard Operating Procedures - SOPs).

4. How to choose your jewelry business focus?

You need to carefully choose a name for your handmade jewelry business because jewelry is an expression, an emotion after all. The ideal name of your handmade jewelry business will act like a bond with customers when buying jewelry for their loved ones. 

Selecting the right name is not only important for your handmade jewelry ideas but also a foundation based on which all your future branding efforts shall be built. So choose your name with care that is unique, memorable and reflects the type of jewelry you shall offer .Remember, the name must be easy to pronounce and spell and this will help your targeted demographics. Try and align the name with the vision and business objectives of your company.

In today’s digital age, ensure the availability of a domain name for your unique handmade jewelry business and be careful to avoid any legal hassles by naming your company right by not infringing any copyrights etc.

5. Spend time on your jewelry logo design.

The logo of your company is a vital step once you have decided on a name for your DIY handmade jewelry business. It would be the first thing your potential customers are going to see and also it would be a communication that shall connect with your customers instantly. So it's very important that brainstorming is done before deciding on a brand logo that should be simple yet distinctive, versatile and indicative of the company vision.

The logo design should effectively convey the value proposition of the brand to its target audience. The life of the logo must stand the test of time for discerning customers.

6. Develop a marketing strategy

Your handmade jewelry business ideas will have to be focussed on an effective marketing strategy for your new business. Include as many channels for jewelry buying for your target audiences. The buying patterns of customers will help you devise a good marketing plan for your DIY handmade jewelry business.

Listed below are some marketing channels you could consider:

7. A workspace for your handmade jewelry

Once you have decided on a logo design and laid out a marketing plan, it is time to set up a jewelry studio - the exciting part of your business venture. To begin with, if you are a very small team or just you at the helm of the business, you can designate a corner of your room for a workspace for your handmade jewelry at home. There are various pieces you can craft at home likemaking a necklace or learning how to make earrings at home can be done with just a few essential tools like pliers, wire cutters and colorful trendy beads. So with just some basic jewelry wires, you can string beads or gemstones for a homemade necklace or use earring hooks to create an earring at home and personalize it for your customer.

.Ensure to have good lighting arrangements and a comfortable area to to avoid any eye strain and physician irritation. Appropriate tools are a must for an efficient workstation for crafting handmade jewelry at home and do invest in the necessary machinery required for productive business. If your space allows , have a dedicated workspace for every element like design, separate storage options for your findings and gemstones etc. 

Always comply with safety measures like proper ventilation and fire prevention. A well equipped workplace and organized jewelry space can transform your creativity significantly and help in creating great jewelry with ease and effiicency.

8. Consider selling your jewelry range online.

While there is nothing wrong with sticking to offline sales channels like boutiques and markets in your local area, if you’d like to grow your business and reach bigger markets it’s important to consider selling online.

In this digital age, selling your handmade jewelry ideas include exploring digital channels for maximum reach if you want to take your business to the next level. Today there is a wide range of options for customers. Though some people like to stick to offline sales and like the look and feel of products before they buy them, the burgeoning online sale is increasing in leaps and bounds offering greater accessibility and convenience to customers. Platforms like Etsy or Instagram allow you to showcase your handmade jewelry made from materials such as beads, wire, clay, and gemstones, reaching a global audience and increasing your chances of success manifolds.

But before you start selling online, it's best to research which platform suits you. Beginners usually use etsy as a starting point because there are existing customers who are searching for products like yours maybe. With progress you could launch your own website to set up a store for customers world wide.

For online selling of jewelry, remember, taking good jewelry photographs is a must to maximize sales and there are some techniques for best results like :

1. Use Natural Lighting: Shoot your jewelry in natural light or use a lightbox to reduce shadows and harsh reflections, which can diminish the piece's true beauty.
2. Focus on Details: Take close-up shots that highlight intricate details such as gemstones, polish , textures and craftsmanship.
3. Use a Neutral Background: A plain, neutral background (white, blue or gray) highlights the jewelry and keeps the focus on the product.
4. Include Multiple Angles: Take photos from various angles (front, side, back) to give customers a full view of the piece.
5. Show the Jewelry in Use: To help customers visualize the size, fit and appearance,
6. include images of the jewelry being worn by models.

Conclusion

Handmade jewelry business in today’s digital era demands a combination of creativity, exemplary craftsmanship and a robust online presence with stunning product photos to maximize your ecommerce site for easy navigation for customers. Before selling, leveraging the right business strategies and tools , your unique handmade jewelry creations can set the stage for long term success. 

FAQs

Q1. Is a business license needed to sell jewelry online?

Ans. It is a wise practice to consult local regulations for small businesses . For many cases you may not need a business license to set up an online jewelry store. However, in some regions you may need a tax number but this is reliant on your sales volume and income generation. Its best to consult a business lawyer for this process of setting up a jewelry business.

Q2. Why is handmade jewelry good as a business?

Ans. Some of the advantages of handmade jewelry include

• market differentiation
•  brand recognition
• competitive edge
• niche market opportunities

 In this space, customers look for unique designs that other businesses do not offer. There is a high demand for one of a kind handmade jewelry pieces.

Q3. Do people like handmade jewelry?

Ans. Yes, custom, handmade jewelry is gaining popularity by the minute. Surveys show, customers are embracing unique designs, colorful gemstones, and unexpected metals pairings.

Q4. What basic do you need to make handmade jewelry?

Ans. Some basic tools that will get you started as a jewelry designer are a jeweler's saw, flush cutter, round nose pliers, flat nose pliers, and chain nose pliers. It is also great to have practice material on hand. It is smart to practice your designs on less expensive copper before fabricating your piece in silver or other precious metal.