Maire Loughran - How to Start a Home-Based Jewelry Making Business: *Turn your passion into profit *Develop a smart business plan *Set market-appropriate prices ... on the Internet

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Table of Contents

For my much-loved son, Joey, who serves his country aboard the USS Harry S Truman.. I am prouder of you than mere words can ever describe.

To buy books in quantity for corporate use
or incentives, call (800) 962-0973
or e-mail premiums@GlobePequot.com.

Copyright 2009 Morris Book Publishing, LLC

ALL RIGHTS RESERVED. No part of this book may be reproduced or transmitted in any form by any means, electronic or mechanical, including photocopying and recording, or by any information storage and retrieval system, except as may be expressly permitted in writing from the publisher. Requests for permission should be addressed to The Globe Pequot Press, Attn: Rights and Permissions Department, P.O. Box 480, Guilford, CT 06437.

Library of Congress Cataloging-in-Publication Data is available on file.

ISBN 978-0-7627-5012-2

Printed in the United States of America

10 9 8 7 6 5 4 3 2 1

Introduction

I consider myself lucky because I come from a creative family. My grand-mother was a fabric designer who also designed and made wedding gowns at night to supplement the family income. My grandfather was a master jeweler and taught me the art of jewelry making.

When I became an adult, this background in jewelry making encouraged me to do research on how to start and market a home-based business. I learned how to take high-resolution (high-res) images of jewelry, and how to write a press release and compelling copy about my pieces. Researching the history of jewelry, gemstones, and the life of jewelry designers was also very helpful. I became an expert on the various ethnic and ritual uses of jewelry.

Along the way I taught myself HTML code and got up to speed with Google Ad Sense and Ad Words, created a few different Web sites, including e-Commerce, and monetized with advertising. Once I felt my jewelry making skills were sufficient, I started entering juried schools, and moved from retail to wholesale marketing of my jewelry.

My home-based jewelry making goals havent completely come to fruitionyet. Along with many other goals, I would like to gain acceptance into the juried Smithsonian Craft Show. I feel a good business is always a work in progress.

I went down a very meandering path with my jewelry making business. I had plenty of roadblocks thrown in my way, both self-created and beyond my control. The information contained in this book is the result of my years of creative and technical experience operating a home-based jewelry making business, including the practical business side, such as paying taxes and writing a business plan. Whether you want to run your business part-time to make some extra money, or quit your day job to make jewelry full-time, this book contains all the information you need to start and operate a successful home-based jewelry making business.

So You Want to Start Your Own Jewelry Making Business

Youve probably purchased this book because you have made jewelry in the past for fun and now you want to turn your hobby into a profitable home-based business. If so, you are not alone. Over the past ten years, more and more people have been choosing self-employment to become their own boss, make more money, or have more-flexible hours.

Although no one can guarantee the success of any business, you can increase your chances of success by thoroughly researching and planning for your new jewelry making business before starting it. In this book, I will take you through the necessary steps to start your business. These are the same steps I took when starting my own successful home-based jewelry making business a few years ago. However, Ive updated them to include all recent technological and marketing advances. Follow along with me through the next thirteen chapters as you start on the road to fulfilling your dream.

Hobby versus Business

Serious intent to make a livable profit is the most important divider between those who wish to pursue a hobby and those who are ready to start a business. Unless you are willing to take that big step to cross over from hobby to business, you are heading toward failure. Here are the questions you must ask yourself:

Are you willing to put in the hours and effort needed to create a successful business?

Do you intend to eventually live on or support other activities (leisure, retirement, education for the kids) with the profit from the business?

Are you willing to change business methods and operations in order to move toward making a profit?

Do you have practical experience in the art of jewelry making?

Have you taken basic jewelry making educational classes?

I am not implying here that you cant start your home-based business on a part-time basis. In fact, most home-based businesses do start as part-time ventures. While some home-based business owners eventually quit their day jobs to work full-time in their own businesses, many do not. They meet their business objectives through running the business part-time only.

You may have young children at home, or maybe youve recently retired and just want to earn a little extra money each month. Just rememberwhether its part-time or full-time, you are wasting your time and money if you dont treat this business with serious intent. Establish financial goals and use your jewelry making business to achieve them.

If youre not planning to use your jewelry making business to put a roof over your heada pretty strong motivating factorkeep in mind your personal goal. Lets say your goal is to pay cash for a new luxury vehicle. Each day when you start to work, keep that objective in mind. Push toward that objective as if you are working to make the mortgage payment on your house. If you go into the business with halfhearted effort, youll end up with nothing.

What It Means to Be Self-Employed

If you tell someone you are self-employed, they immediately conjure up an image of being paid for fun. Like any other job you have ever had, being self-employed is hard work. This is true even in a more artistic field such as jewelry making. There are days when making jewelry is anything but fun. Its decidedly not fun to work twelve-hour days to get an important order out on schedule, or to have to work even when youre ill or have a death in the family.

The Demise of the Steady Paycheck

If you go at this full-on, quitting your day job, the biggest shock youll have at the beginning is not receiving a regular paycheck. When you work for someone else, its usually a certainty that youll be receiving a check every regular payday. Its a big adjustment to not have that steady reliable income anymore. Its even more of an adjustment when you consider the employee benefits you may no longer have.

Hobby-to-Business Success Story

Stephanie Albertson made her first piece of jewelry at age twelve. Over the years, with training and hard work, she turned her love of the design process and materials into a profitable handcrafted jewelry making business.

Her jewelry designs have been featured in magazines such as InStyle, Real Simple, Self, and Glamour . She has also been a featured jewelry designer in actor Robert Redfords prestigious Sundance catalog.

I still have one of her beaded necklaces that I purchased fifteen years ago at an art gallery in Winter Park, Florida. Its timeless and extremely well madetwo important elements of jewelry design. Go to www.stephaniealbertson.com to find out more about her success story.

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