Running an
Online Jewelry Business
Frugally

© by Ruth Ellen Kostic; all rights reserved

I started my online jewelry business with a wealth of enthusiasm, creativity, *and* a slim budget. Like many entrepreneurs, the lack of working capital meant I needed to learn new skills and do research to obtain the products and services I needed to run a small business.

Tree of Life pocket prayer beads by Ruth Ellen Kostic.

Out of this experience, I'd like to share the top five steps I took to cut expenses:

1. Clueless about business start up, taxes and accounting?

   Check out your local college. Most have a small business development center that offers seminars on all aspects of running a small business. In my area, many of the workshops at the local college are free.

   Their recent topics include: The First Step Pre-Business Workshop, Basic Financial Statement Analysis for Small Retail and Service Businesses, and Basic Recordkeeping for Small Retail and Service Businesses. And as you become acquainted with instructors and attendees, these workshops offer a gold mine for networking opportunities.

2. Need professional product pictures?

   Without quality pictures of my prayer beads and jewelry, I knew my business would die a swift death. Unfortunately, I had no camera skills and my start-up budget wouldn't stretch to include the fees of a professional photographer.

   But technology is our friend here. I taught myself to use a digital camera and a photo editor. I found a table top photo studio for sale on eBay, which allowed me to produce photos that sell my work. The studio came with good instructions and their web site offers many helpful tips. This was a terrific investment.

3. Having trouble with expenses for findings and beads?

   Comparison shop and buy in bulk!

   Use the internet to find the products you need and compare prices with local providers. I live in a rural area and do most of my bead and component shopping online. For online suppliers, check out the Jewelry Arts & Lapidary Journal and other bead magazines that feature ads from wholesale suppliers. eBay is also a source; their "Jewelry and Watches" category includes a section for wholesale lots.

   Most companies offer bonuses for buying in bulk, usually with a sliding scale that saves you more money when you buy over a certain amount. I had to fight reluctance to do this. Ordering by the case, rather than by the each, was a struggle at first. Must be from a life time of retail shopping!

   Keeping your orders large saves money. Shipping fees will make your per-item costs more expensive with small orders. For useful product providers, see my list of favorite bead and jewelry suppliers at the end of this article.

4. Need a website but have no HTML skills?

   Find a website provider that offers store templates. With these, all you need to do is plug in product information and upload pictures. They provide a user interface that makes it simple to change information, yet still allows you to maintain control over your website. And if you have any HTML knowledge, you can go customize the look of your online jewelry business and produce a very attractive web store.

   I've been using Shopping Carts Plus, and have been pleased with their ease of use, customer support and reliability.

5. Need a business brochure, booklets or business cards?

   Make them on your computer. You can buy blank business cards and glossy paper and make them yourself. Companies like Paper Direct and VistaPrint offer a range of colorful theme papers and cards that give your publications a custom, polished look.

Groaning and saying you have no time for any of this?

The time investment is worth the savings. And if you budget 30 minutes out of your day to research or learn new skills, you'll be surprised how quickly that skill is learned.

Good luck in your online jewelry business!

Earthenwood Studio: Offers original porcelain beads and jewelry components at reasonable prices.

Eastern Findings

Fire Mountain Gems: Large supplier of findings and beads.

Kathy's Findings: Good prices on precious metal beads.

Rio Grande: Gems, findings, packaging and display materials.

RocksnRocks: Good bead prices, especially on gemstones. Sells on eBay and their own web site.

TanZyr: Offers original sterling findings and wholesale discounts.