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How to Price Your Jewelry Wholesale
Pricing is an issue that many people in the jewelry
business often worry about. However, there is a
method that you can easily use, whether you
purchase jewelry wholesale or make your own
jewelry. Pricing is very important. You don’t want
to charge too much, because you won’t sell
anything. On the other hand, you want to make
sure that you charge enough to make a profit.
If you purchase your jewelry at wholesale prices, a
markup of 15% to 30% is usual, and people will pay
these prices. In the grand scheme of things, apply
the 30% markup, and make that the ‘regular’ price.
When you need to move merchandise hold a sale,
and use the 15% markup price as the sale price.
If you make your own jewelry, determine the total
cost of the piece, including the cost of supplies,
shipping, warehousing and packaging, then apply a
15% markup. With the 15% markup, your jewelry
will be priced at the wholesale price. If you sell the
jewelry to the general public yourself, as opposed
to selling it to retailers, apply the retail price, which
in this case would be about 45% above your costs.
How to Open An Online Jewelry Store With Jewelry Wholesale
Opening your own jewelry store has never been
easier than it is now. In fact, you can use the
Internet to open your own online jewelry store and
never stock a single piece of jewelry! In fact, your
jewelry store could be open for business in less
than a day – and the only thing you would need to
do is market it! This is pretty much an instant
business.
First, find jewelry wholesale suppliers. If you want a
truly ‘hands-off’ business, find a wholesaler who will
drop ship to your customers. This way, you never
have to handle any of the stock. Here is how it
works. You get your website set up, with an online
catalog of all of the jewelry that you offer. You
market that site to the public. Customers start
visiting your site, and they place orders. You
forward those orders to the drop shipper, and the
drop shipper handles the rest!
Most wholesalers will require you to pay for the
merchandise before it is shipped. This shouldn’t be
a problem because you will require your customers
to pay for their orders at the time the order is
placed. Of course, you charge more for the jewelry
than the wholesaler charges you.
In most cases, you will be allowed to set your own
prices. Look to see what the wholesaler charges
you, including shipping, then add 15% to 30% to
that price. This is what you should charge your
customers.
If you aren’t sure how to go about setting up a
website, you can probably find a wholesaler who
will provide you with a website. Most of these
wholesalers charge a fee for the site, and your site
will usually look like all of their other distributors.
This should be your last option.
You may consider opening an eBay store. There is
a fee for this as well, but at least your store will be
unique. You can also bypass the eBay store and
simply set up eBay auctions, which are very
affordable for everyone. Make sure that you set a
minimum reserve price for the jewelry that you are
selling so that you don’t lose money, and make
sure that the buyer pays all shipping costs and
insurance.
Again, setting up an online jewelry store with
jewelry wholesale is one of the easiest ways to start
a business today. You can literally be up and
running in a few short hours, and making money
within twenty-four hours of ‘opening your doors!’
How to Make Your Own Jewelry Wholesale
Making jewelry is not only fun, it is actually very
easy. It just takes a lot of creativity, and a little skill.
In fact, you could easily start your own jewelry
wholesale company by making jewelry yourself.
There are countless books available with
instructions and ideas for jewelry making. There are
also numerous websites where you can learn how
to make your own jewelry and get ideas. In the
beginning, you will probably want to follow a few
instructions or patterns until you get the feel for it –
but eventually, you should let your creativity shine
through and design your own jewelry.
You can easily purchase all of the supplies that you
need for making your own jewelry wholesale through
wholesale sources online. Buying in bulk will get
you the best prices. You can buy cheap gems, and
high quality gems as well. Everything that you
could possibly need can be located through a
wholesale resource on the Internet!
After you’ve made several unique pieces, you
should show them to friends, family members, and
colleagues. You will be surprised at how many of
these people want you to make pieces for them as
well! Just be sure to charge, and soon enough, you
will have your very own thriving jewelry wholesale
business – simply because you learned how to
make your own jewelry wholesale.
How to Make A Jewelry Wholesale Catalog
So you want to sell your jewelry? Well, selling
jewelry wholesale is a big business, and you
definitely need a catalog of your offerings! Making
a catalog isn’t as difficult as you might think. First,
you have two options: an online catalog or a print
catalog. The choice is yours.
Overall, an online catalog is the least expensive
way to advertise your jewelry wholesale company –
but with all of the online jewelry stores and online
wholesalers, it may not be the most effective way
to make sales. A print catalog should strongly be
considered for a direct mailing.
If you make your own jewelry, you will need to get
good pictures of the jewelry – preferably laid on a
velvet setting. Black or blue velvet will bring out the
jewelry the most. You can take these pictures
yourself with a digital camera, or have a
professional take the photographs. It is cheaper to
do it yourself, of course.
Load the pictures up onto your computer, and use
publishing software, such as Microsoft Publisher to
design and layout your catalog. This may take a
little time and patience, but it is much cheaper than
having someone else do it.
Since you will need hundreds, if not thousands of
copies of your catalog, your best bet will be to save
the catalog on a CD and take it to a print shop that
can handle the job. This will cost money –
especially since the pages need to be glossy and
in color, and the catalog will need to be bound –
but this expense will be well worth it if you will be
doing a mass direct mailing.
In order to do a mass direct mailing, you simply
find a reputable company who either sells mailing
lists or does the mailing for you. You can actually
request lists of mailing addresses where the person
has expressed an interest in purchasing wholesale
jewelry – or any other criteria that you set. In most
cases, it is best to have the company handle the
mailing for you. They will get the best rates on the
mailing because they can use the bulk mail rate.
Make sure that you use a reputable printer, and a
reputable direct mail company! This is an investment
in the future of your business, and your jewelry
wholesale catalog needs to be perfect in every way –
and the mailing needs to go off without a hitch!
