Is Permanent Jewelry Business Right For Me?
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- Опубліковано 8 вер 2024
- Recently I've had an unusual number of people write and call me about permanent business - not just about welding techniques. So, I think maybe I should talk about the business itself.
For those of you tuning in for the first time, I'm Dana, owner of Stones And Findings - we wholesale premium quality chains and jewellery findings. I designed, made and wholesaled jewellery to boutiques across North America and the Shopping Channel for over 10 years before starting Stones And Findings 15 years ago because I was having trouble getting high quality components. I studied finance in my undergrad and have an MBA and I love business strategy, so I would like to weigh in on this fairly new and phenomenal business of permanent jewellery.
Question I was asked: Is permanent jewellery a fad?
They worry they won't be able to recoup the cost of the machine and make profits before the fad goes away. First and foremost - you should always treat anything in the fashion, jewelry and beauty business as a fad. If you do not, you will for sure fail because you will become complacent, not be prepared to keep up with (let alone stay ahead of) trends and changes. This actually also applies to any business!
The key here is to know how long is the product life cycle for your product/service, and where are we on that cycle - in other words, how much runway do we have?
Where are we in the product life cycle? That is also different geographically - USA, CAN, AUS, Europe are all at different stages, with USA leading the rest of the countries by a margin; this also varies depending on large cities vs small towns.
Next on the horizon after Permanent Jewelry?
Jewellery is part of every culture and has lasted from antiquity - Cleopatra and even before. What makes jewellery enduring, aside from beauty and signals of wealth, is that it is self expression. You see the hugely successful Pandora and then personalized jewellery - it is because it is personal and meaningful. Self expression and personalization is the theme that makes tattoos, certain graphic t-shirts and symbolic jewellery so popular.
The natural next extension is customized jewelry - with clasps and super personalization!
There is the plus size market - no extension chain, perfect fit
Custom fine necklaces & bracelets- different lengths chains for existing pendants or customized pendantsCustom
Chain Rings - for those who have large knuckles and traditional rings are awkward to wear
Can I make money as a side business? Can I recoup the cost?
The quick answer is definitely because I see how much our customers reorder and I know their prices and costs. These are people who do pop-ups and events and do not even have a set location.
However, as in any business, it's really not for the risk averse and nothing is a guaranteed success.
There are a few questions you should ask yourself -
Why do you want to go into this (especially when there are many ways to make money)?
If you're not passionate about aesthetics, fashion, and working with people, it will come through. Permanent jewelry, like permanent makeup, tattoo, nail salons, is a people business. You can see that there are many salons everywhere, some are successful and some fail - all because it's a personal connection. You must keep this in mind and this is the key difference between success and mediocre success, and even failure.
Am I willing to do the marketing, not just operate the machine?
Marketing is 90% of any business success. How are you going to let people know you have this service? What is your game plan with social media, word of mouth, and ensuring exposure and bookings?
Please let me know what you think of my live stream and topic by commenting below. Pls let me know if there is/are any areas and topics you would like me to share.
Full disclosure
About us: Stones And Findings is a wholesaler of premium jewellery components. We supply many stores that weld permanent bracelets. Our chains and components are high quality and well made (all 925 silver chains are made in Italy and gold filled chains are American).
You can shop our extensive collection online at wholesale prices by first creating an account (you do not need a business license). You will get instant access to prices and shopping cart at the bottom of this page:stonesandfindi...
Note on Micro Welder I have used in this video:
Orion Micro Welder mPulse 30 is made by Sunstone Engineering, in the USA. Stones And Findings is a premier licensed distributor for Orion Micro Welders.
You can purchase it here 👉 bit.ly/orion-m...
FREE SHIPPING in USA and Canada ✈️
🌎 If you are located elsewhere, you can email me and I'll find the licensed reseller in your country.
Love this video Dana!!! Such a useful video!!! Would love a video about how to calculate a price point for permanent jewelry. ❤
Hi Cora, I am happy to oblige. Glad you found it useful. I have so many thoughts, but am not sure if people find it just blathering!
I love this channel already! Thanks for sharing your knowledge Dana it is much appreciated!
You are so welcome! Your words of encouragement has made my day.
Your channel is amazing. Thank you for your insight and sharing your knowledge.
Thank you for watching and for this lovely comment; I appreciate the encouragement. I have many thoughts and much to say, however, it has taken me a long time to overcome shyness to share voice and face.
Thank you for all of your amazing content! ❤ I’ve already made a huge order on your site and look forward to continuing to order! Thank you!
Thank you for supporting us! I am glad you are enjoying my non-fancy videos :). Good luck with business - let me know how it goes!!!!!
Dana thank you. You present several very valuable ideas in this video . I really think you could edit out some and wish there was an outline for this UA-cam presentation. BUT this is a good business mini course FOR ANY BUSINESS.
Your chart alone regarding fad/demand had great points.
Your points about how to increase the lifespan of the permanent jewelry trend is important too.
Risk aversion vs. willingness to take risk was spot on.
Willingness to work hard is key of course but you are VERY helpful and obviously a business person. Thank you.
THank you for taking the time to give me valuable feedback. I hope to improve on my low budget videos and this is very helpful.
Thanks
Dana
Can the equipment be used in making traditional jewelry?
yes, for welding jump rings and small items. I would not use it to do settings though.