Fantasy jewelry, also known as fashion jewelry, goes through the range of simple silver pieces to large cocktail rings. Selling fancy jewelry can be beneficial, since not only do women of all ages buy and use it, but men also do it to give as a gift. The fantasy jewelry trade is flexible, since there are many ways in which you can start and grow your business, and you can operate it completely or part time.
- Go to a niche or specialization, for your jewelry company. Doing this will allow you to concentrate on buying only one type of fancy jewelry and distinguishing yourself from your competitors. For example, you could specialize in selling vintage fantasy jewelry or vintage replicas, fashion jewelry accessible to teenagers and young women, artisan and handmade jewelry, or designing fantasy jewelry brands.
- Get the required permits in your state and city to operate a retail business. Depending on where you live, this may include a sales tax permit, a resale license or an assumed name certificate. Your local business development center or small business administration office (Samll Business Administration) can let you know what business documentation you need.
- Buy wholesale fantasy jewelry to sell, if you’re not going to make your own jewelry. Before spending money on any jewelry store, make sure you can make at least 30 percent profit from it, after counting labor costs. There are many ways you can stock your inventory, depending on your niche. If your specialty is vintage fantasy jewelry, shop at state or garage stores, browse online auction sites, sell jewelry on consignment and place print and online advertisements. If you are selling new parts, you probably have to open wholesale accounts with manufacturers and distributors of fancy jewelry, or buy liquidated merchandise, which means with a large discount, from other vendors.
- Secure at least one place from which to sell your fancy jewelry. Options include renting or buying a place in the real world, renting a small car or kiosk, becoming an old-fashioned or flea market dealer, selling parts of jewelry, opening an online store or sending products through websites. Internet auction. If you plan to make your own fancy jewelry, consider all the options mentioned above, with the exception of antique markets. You could also try to sell in the local peasant market, if they accept sellers of non-food products, or a market for handicraft items such as Etsy.
- Find a storage place for your fancy jewelry merchandise, if you’re not going to open a physical business location. A clean spare closet or airtight containers would be fine, provided they are located in dark, odor-free and pet-free areas.
- Promote your fantasy jewelry company in a way that fits with retail locations. You could start a promotional blog, open a social network account, place an online banner and advertisements on websites, send press releases to local, regional or national media and donate or lend pieces to be used in a local fashion show in exchange for publicity. You can also place coupons, brochures and flyers in complementary stores such as clothing stores, hair and beauty salons and shoe stores.