- Choose a specialty and a target market.
Make sure there’s a feasible target market for your dragon jewelry concept first, preferably one that isn’t over-saturated, before moving forward. Customers who search for jewelry online generally already have an idea of what they want, so think about the type of customer you want to attract and make sure you know what they want. Understanding your ideal customer can help you increase your return on ad spend (ROAS) through improved targeting, allowing you to spend less money while attracting more sales.
- Make a business plan.
You’ll need a detailed business plan whether you’re self-funding or getting funding from a bank, family, e-commerce venture capital, or a fund. With a business strategy in place, you can calculate the number of products you need to make as well as your road to profitability. A business plan also makes you appear more credible to funders and provides a wonderful first impression in encouraging them to invest.
- Choose a unique name (with an available domain)
Take the time to come up with a unique name that corresponds to your brand’s aim and purpose. The name of your company is significant because it must be distinct enough for customers to remember it while also not being too abstract that people do not grasp what type of product you provide. You should also check with the US Trademark Office to see if your company entity can be trademarked or if it is already trademarked. Even if the name is available, you should check the availability of website domains, which you can do on website domain and hosting services like GoDaddy.com.
- Create a product line.
This is the simple part if you’re getting into jewelry since it’s your passion. There are a plethora of fantastic locations to go for inspiration, including your favorite jewelry designers, the most recent trends, and so on. After you’ve designed your products, you’ll need to work out how to handle production and bulk supply purchases.
- Whether to outsource manufacturing and suppliers is a personal decision.
Once you’ve come up with design ideas for your jewelry line, you’ll need to look into potential manufacturers and determine if you want to manufacture locally or internationally. You’ll need jewelry-making tools and equipment if you’re going to make your creations by hand. Ask other jewelry designers for recommendations for reputable wholesale distributors, or check into getting a reseller license so you can avoid paying local sales taxes when you buy in bulk.
