A Fool-Proof Formula for Pricing and Selling Your Jewelry

QUESTION:
Can you make serious money by making jewelry?

ANSWER:
Yes you can, but you have to be smart about it.

I offer a series of business of craft classes in Nashville. One of my most popular classes is called PRICING AND SELLING YOUR JEWELRY. In it, I go over a pricing formula that is easy to do, accounts for costs of PARTS, LABOR and OVERHEAD, and fits with the realities the jewelry designer faces, most notably, that they wear different hats — manufacturer, wholesale and retailer — and each “hat” requires a different way or related costs to prices.

I also go over various business and marketing strategies very related to Pricing.

In this article, I go over…

1. BUSINESS STRATEGIES
   2. PRICING STRATEGIES
   3. APPLYING PRICING FORMULA
   4. PROFIT and POST-PROFIT
   5. MARKETING YOUR JEWELRY
   6. RETAIL, CONSIGNMENT, WHOLESALE
   7. BRANDING

BUSINESS STRATEGIES

a. Buy Parts Cheaply
When starting, go after depth rather than breadth of inventory.
Buy a limited selection of parts, colors, sizes, so you can purchase in greater volume, thus getting a lower price