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How do I know how much material I should purchase for a new business?

  • I am starting a new jewelry business but I'm not sure how much material I should purchase. Can anyone give me an estimate of how many necklaces/bracelets/earings I should make to start out with? maybe then I can get an idea of how much to buy. Thanks a bunch!

  • Answer:

    Supplies, metals and gemstones are not cheap. I would start with as little as possible in case your products don't sell. If possible, I would just create one of each, post pictures of them or show as a demo, and then make sure to let the customer know each product is a custom, hand-made creation and will take "X" days for delivery. Once you know which the popular products are, then just keep an inventory of those on hand. If you're looking for pre-made pieces, I would recommend Stuller, this was our main supplier. Good Luck with your endeavor! FatMoneyPig.com

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How do you plan to sell your jewelry? Are you opening a shop somewhere, or selling them online, like through eBay? If opening a shop, you don't know enough to start yet. Spend some time working for a jewelry store first, to learn the business. You won't be ready to open until you already know the answer to that question, as well as what mix of products to carry and how to price them. Selling online is much easier. Look for similar items already for sale on eBay to check out the prices and varieties. As a potential seller you can get information from the website on how well things like that have been selling. Make a few items, sell them on eBay, check the response. Add to your line as your experience grows. There are books available on how to sell on eBay. It can be fun!

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