When starting a custom jewelry business there are many options for the services your store will provide and how those services are offered. Selecting the services is partially based on your skills, the skills you can hire, and the needs of your target customers.
If you don’t yet know which customers you will target, this is where you should start. Then return to this article to consider the pathway to each service.
As soon as you know which services you will start with you need to launch a website so that you can start to gain attention from search engines. We can help if you need a quick and straightforward marketing partner for your business.
1. Custom Jewelry Design Business
- Custom Design Studio: Specialize in creating personalized jewelry pieces tailored to individual client preferences, such as engagement rings, wedding bands, and other bespoke items. Offering in-person consultations where clients can collaborate on designs will enhance the custom experience.
- Process for Adding In-House Design with Outsourced Production: Focus on building an in-house sales/design team skilled in CAD (Computer-Aided Design) software for jewelry design. Work with customers to create detailed design specifications, which are then sent to a trusted external manufacturer for production. Establish strong relationships with reliable production partners who can meet your quality standards and deadlines. This approach allows you to offer custom designs without the overhead, staffing, or capital requirement of in-house manufacturing.
- Process for Adding In-House Design and Production: Invest in both design and manufacturing capabilities within your store. This requires hiring or training jewelers skilled in both design and production, and equipping your workshop with the necessary tools, such as casting equipment, 3D printers, and gem-setting tools. This approach gives you full control over the entire process, from design to final production, allowing for greater customization and faster turnaround times. It also enhances your brand’s value by offering completely in-house craftsmanship.
2. Jewelry Repair and Restoration Business
- Jewelry Repair Shop: Adding a repair and restoration service complements a custom jewelry business well. Customers who purchase custom pieces often need ongoing maintenance, resizing, or repairs, and offering these services in-house builds trust and long-term relationships.
- Process for Adding Outsourced Repair: Establish partnerships with reputable external jewelry repair services that specialize in the types of repairs your customers frequently need. Offer in-house consultations to assess the repair needs, estimate price and delivery timeline, then coordinate with the outsourced service provider to complete the repairs. Ensure clear communication with both the service provider and your customers about timelines, costs, and expectations. This approach allows you to offer repair services without the need for extensive in-house equipment or specialized staff, while still maintaining a high level of service for your clients.
- Process for Adding In-House Repair: Set up an in-house repair workshop by hiring experienced repair technicians skilled in various aspects of jewelry repair, including resizing, stone setting, polishing, and soldering. Invest in essential repair tools and equipment, such as torches, polishing machines, and gem-setting tools. Create a system for evaluating, quoting, and tracking repairs to ensure quality control and timely service. Promote your in-house repair services to existing customers and attract new clients by emphasizing the convenience and reliability of local repairs.
3. Engagement and Wedding Ring Store
- Specialty in Engagement and Wedding Rings: Specializing in custom engagement rings and wedding bands is a natural extension for a custom jewelry business. This allows you to focus on one of the most lucrative and emotionally significant segments of the jewelry market.
- Process for Adding This Service: Begin by curating a portfolio of engagement rings and wedding bands, either through your own designs or by collaborating with other designers. Focus on offering customization options, such as engraving or selecting unique gemstones. Market your services specifically to couples, emphasizing the personalization and quality of your offerings. Consider partnering with local wedding planners or venues to reach your target audience. Offer consultation services to guide couples through the process of designing their rings.
- Inventory Control Cautionary Note: When adding in-store inventory it is extremely important to start small and grow as it makes sense. There is a lot of competition in the engagement retail space and you do not want to get stuck with inventory. One way to combat dead inventory is to focus on a very specific niche for items held in-stock so that people seeking that specific type of product will be attracted to your business.
4. Ethical and Sustainable Jewelry Store
- Ethical and Sustainable Jewelry Focus: If your custom jewelry business prioritizes ethical sourcing and sustainability, positioning yourself as an ethical and sustainable jewelry store can differentiate your brand and attract a specific customer base.
- Process for Adding This Service: Source materials from certified ethical and sustainable suppliers, including conflict-free diamonds and recycled metals. Promote these values in your branding and marketing materials, highlighting the ethical nature of your products. Educate your staff on the importance of ethical sourcing so they can communicate this effectively to customers. Consider obtaining certifications such as Fairmined or Fairtrade Gold to strengthen your credibility. Regularly audit your supply chain to ensure ongoing compliance with ethical standards.
5. Estate Jewelry Store
- Estate Jewelry Focus: Specializing in estate jewelry allows you to offer customers unique, often vintage pieces with historical significance. This niche can appeal to collectors and those looking for one-of-a-kind items.
- Process for Adding This Service: Start by sourcing estate jewelry from auctions, private sellers, or estate sales. To be successful, develop expertise in appraising and authenticating these pieces, ensuring you can accurately value them, so that you can sell them for a healthy profit. Create a section of your store dedicated to displaying these unique items, with detailed descriptions of their history and significance. Market estate jewelry as a sustainable and exclusive alternative to modern pieces, appealing to customers who value heritage and uniqueness. Offer repair and restoration services to bring older pieces back to their original glory.
6. Jewelry Appraisal Service
- Certified Jewelry Appraiser: Providing appraisal services can complement your custom jewelry offerings. Clients who commission custom pieces may also need appraisals for insurance or estate planning, making this a valuable add-on service.
- Process for Adding Outsourced Appraisal Service: Partner with a certified external appraiser or gemological service that specializes in jewelry appraisals. Offer in-store consultations where you assess the items and gather the necessary details, then coordinate with your outsourced partner to complete the formal appraisal. Ensure that the outsourced appraiser meets high standards for accuracy and professionalism. Maintain clear communication with the appraiser and your customers to manage expectations regarding timelines, costs, and the appraisal process. This approach allows you to offer appraisal services without the need for in-house certification or specialized equipment, while still providing valuable services to your clients.
- Process for Adding In-House Appraisal Service: Obtain certification from a recognized gemological institute, such as the Gemological Institute of America (GIA), if you or your staff are not already certified. Equip a dedicated space in your store with the necessary tools, such as microscopes, scales, diamond testers, and other gemological instruments. Develop a standardized process for conducting appraisals, including detailed documentation, valuation reports, and insurance-related paperwork. Regularly update your knowledge on market trends and gemstone values to provide accurate and reliable appraisals. Promote this in-house service as a convenient and trustworthy option for your clients.
7. Jewelry Photography
- Jewelry Photography: High-quality photography is essential for showcasing custom jewelry, especially if you sell pieces online or want to create a strong portfolio. Offering photography services to other jewelers can be a useful addition to your custom jewelry business and let you leverage the investment in equipment, space, and staff.
- Process for Adding This Service: Invest in professional photography equipment, including a DSLR camera, macro lenses, lighting, and a lightbox. Consider hiring an experienced photographer with experience in jewelry marketing, or train an in-house team member. Set up a dedicated space in your store for photography, ensuring consistent lighting and background setups. Develop a process for photographing new pieces as they are completed and editing images for use on your website, social media, and marketing materials. Offer photography services to other local jewelers or designers as an additional revenue stream.
When you work to start or grow your business it is important to take measured steps and test and learn as you go and grow.