💥 Get the $5 Jewelry Store Business Plan + Vendor list, so you’ll know exactly where to get the inventory from. 👇 The Business Plan 👉 payhip.com/b/2gc87 The Vendor List 👉 payhip.com/b/ECmaq
Hey Love, Certainly! When you're starting a small online jewelry business as a single owner, you primarily have two straightforward options: operating as a Sole Proprietorship or forming an LLC (Limited Liability Company). Here's a breakdown: Sole Proprietorship Ease of Formation: It's the simplest business structure. In most cases, you just start operating your business to become a sole proprietor. Tax Simplicity: The business income is your personal income, and you report it on your personal tax return. Full Control: You make all the decisions and don't have to deal with the formalities that LLCs may require. Personal Liability: One major downside is that your personal assets are not separated from your business assets, exposing you to greater financial risk. LLC Personal Asset Protection: An LLC provides a legal separation between your personal and business assets, offering some liability protection. Tax Flexibility: You can choose how you want the IRS to tax your LLC, often opting for "pass-through" taxation similar to a Sole Proprietorship. Credibility: Operating as an LLC can make your business appear more professional to customers and potential investors. Regulatory Requirements: There are more compliance requirements compared to a Sole Proprietorship, like filing articles of organization and creating an operating agreement. Cost: There are setup costs and, in some states, ongoing fees for maintaining an LLC, which you don't have with a Sole Proprietorship. If you're a single person operating a small online business and are not overly concerned about liability, a Sole Proprietorship is the easiest and least expensive option. However, if you want additional protection for your personal assets and a more formal business structure, an LLC might be more appropriate. You can see the full cost of setting up an LLC with myCorp. www.pasosdeals.com/mycorp I hope this helps! Thanks for watching. Best, Adella
2 роки тому+1
Is it better to sell real gold and diamonds or cosmetic jewelry? What do you think?
Hi Mehmet, your business could explode by selling either one. You need to take a look at your competition and niche and product selections. There's a market for each, people want real jewelry as well as cosmetic. You can gauge search demand by using a tool like SEMRush www.pasosdeals.com/semrush . Let me know if this helps, take care, Adella
They usually get them from wholesalers or distributors or some buy directly from the manufacturer. All of the vendors are in my list here: payhip.com/b/ECmaq
Yes, you can start an online store to sell your designs. However, if you are going to do this, I would recommend you either trademark / copyright them first and then licenses them to people for a certain amount of money or royalties, if they plan to mass produce jewelry using your designs. Definitely consult with a copy wright / patent lawyer about this before you just start selling your designs for use. I hope that helps! Best, Adella
Hi Hakan, the are very profitable depending on what products you sell and the price you buy them at. Remember, buy low and sell high. Try to include products in your store that are largely in-demand and have frequent buyers. Most jewelry profit margins are anywhere from 20-65%. You can check the jewelry store suppliers list here payhip.com/b/ECmaq . Take care, Adella
There' a possibility that you can, but it's even more profitable to own your own jewelry store that employs jewelers. That's the point of this video. Let me know if you have any questions JP. Thanks for watching, take care ~ Adella
Yes, sorry this video is about buying wholesale and dropship, not for those who want to custom design jewelry. You can still register your website with bluehost www.pasosdeals.com/websitename , and you can also still use square for merchant processing www.pasosdeals.com/square and use 99designs for your branding www.pasosdeals.com/99design. I may make a video for jewelry designers in the future. I'll keep you posted. Join my email list so you can stay tuned in for it's release. Take care, Adella
💥 Get the $5 Jewelry Store Business Plan + Vendor list, so you’ll know exactly where to get the inventory from. 👇
The Business Plan 👉 payhip.com/b/2gc87
The Vendor List 👉 payhip.com/b/ECmaq
Just stopping by to say hello!
Hey love! Thanks so much 😍
I love your channel.
Thank you so much! Appreciate the comment and subscribe!
Hi thank you for your grate explanation
Glad it was helpful! Thanks for leaving me a comment. Appreciate it.!
Purchased your wholesale jewelry list, finally trusted manufacturers! Thanks
Yay! Thank you! Appreciate you all!
I found this channel randomly; glad I stopped by! Great content!
Thanks for leaving me a comment Jay!
I like that anyone can start a small jewelry business from home. Good information thanks!
Any time Fatma, you are so very welcome. Thanks for leaving me a comment. 😍
@Business Strategy TV thanks, this was helpful
You're very welcome! 😍
Thanks for this good information.
My pleasure! No problem. 😍
Thank you for this video.
My pleasure! Glad you liked it!
Keep doing these videos.
Will do! Thanks for watching and leaving me a comment. 😇
I like this idea, I'll keep it in mind.
Awesome! I hope you do. Let me know if you need any help getting started or have questions. 😍
Good presentation. You did a great job. I’ll look for more advice from your site
Thanks Flash! I appreciate you watching and leaving me a comment. More to come! 😍
wait if I want to start a small jewelry business on line..which type of license do I need?LLC theres too many options and is just me!
Hey Love, Certainly! When you're starting a small online jewelry business as a single owner, you primarily have two straightforward options: operating as a Sole Proprietorship or forming an LLC (Limited Liability Company).
Here's a breakdown:
Sole Proprietorship
Ease of Formation: It's the simplest business structure. In most cases, you just start operating your business to become a sole proprietor.
Tax Simplicity: The business income is your personal income, and you report it on your personal tax return.
Full Control: You make all the decisions and don't have to deal with the formalities that LLCs may require.
Personal Liability: One major downside is that your personal assets are not separated from your business assets, exposing you to greater financial risk.
LLC
Personal Asset Protection: An LLC provides a legal separation between your personal and business assets, offering some liability protection.
Tax Flexibility: You can choose how you want the IRS to tax your LLC, often opting for "pass-through" taxation similar to a Sole Proprietorship.
Credibility: Operating as an LLC can make your business appear more professional to customers and potential investors.
Regulatory Requirements: There are more compliance requirements compared to a Sole Proprietorship, like filing articles of organization and creating an operating agreement.
Cost: There are setup costs and, in some states, ongoing fees for maintaining an LLC, which you don't have with a Sole Proprietorship.
If you're a single person operating a small online business and are not overly concerned about liability, a Sole Proprietorship is the easiest and least expensive option. However, if you want additional protection for your personal assets and a more formal business structure, an LLC might be more appropriate.
You can see the full cost of setting up an LLC with myCorp. www.pasosdeals.com/mycorp
I hope this helps! Thanks for watching.
Best,
Adella
Is it better to sell real gold and diamonds or cosmetic jewelry? What do you think?
Hi Mehmet, your business could explode by selling either one. You need to take a look at your competition and niche and product selections. There's a market for each, people want real jewelry as well as cosmetic. You can gauge search demand by using a tool like SEMRush www.pasosdeals.com/semrush . Let me know if this helps, take care, Adella
Adella, how or where do jewelry stores get their inventory?
They usually get them from wholesalers or distributors or some buy directly from the manufacturer. All of the vendors are in my list here: payhip.com/b/ECmaq
How can I sale my jewelry designs .??
Yes, you can start an online store to sell your designs. However, if you are going to do this, I would recommend you either trademark / copyright them first and then licenses them to people for a certain amount of money or royalties, if they plan to mass produce jewelry using your designs. Definitely consult with a copy wright / patent lawyer about this before you just start selling your designs for use. I hope that helps!
Best,
Adella
Are jewelry stores profitable or does it depend on where you get the stock from?
Hi Hakan, the are very profitable depending on what products you sell and the price you buy them at. Remember, buy low and sell high. Try to include products in your store that are largely in-demand and have frequent buyers. Most jewelry profit margins are anywhere from 20-65%. You can check the jewelry store suppliers list here payhip.com/b/ECmaq . Take care, Adella
Can you become rich by being a jeweler?
There' a possibility that you can, but it's even more profitable to own your own jewelry store that employs jewelers. That's the point of this video. Let me know if you have any questions JP. Thanks for watching, take care ~ Adella
I want to design jewelry and sell it online, so I guess this doesn't apply to me.
Yes, sorry this video is about buying wholesale and dropship, not for those who want to custom design jewelry. You can still register your website with bluehost www.pasosdeals.com/websitename , and you can also still use square for merchant processing www.pasosdeals.com/square and use 99designs for your branding www.pasosdeals.com/99design. I may make a video for jewelry designers in the future. I'll keep you posted. Join my email list so you can stay tuned in for it's release. Take care, Adella