Have you been making handcrafted jewelry for so long that you have no place to put your new designs? Have you given so much of your work away that you know it’s time to actually buy gifts rather than make them? Do you find yourself unable to resist buying new jewelry-making magazines, and then rushing home to make every design in them? If you answered yes to these questions, then you are a handcrafted jewelry addict and are in desperately in need of help! Sell all your existing jewelry so you’ll have the room and extra money to make even more jewelry!

Assigning prices to your jewelry can be fun once you know the basics of how to do it. Use these three steps as you guideline.

· Add the costs of the materials and tools for the pieces you want to sell.

· Pay yourself for your time and labor. Your hourly rate need not be extravagant. To start, $10 an hour, although it may seem low, is a good place to start. YOu can give yourself a raise once your business is off the ground.

· Since you work from your home, your overhead expenses may not be much, but don’t ignore them. Overhead expenses include a business phone line, costs of utilities rental fees for booths at crafting fairs and shows, and web site rental and maintenance fees if you decide to have a web site or open an e-Bay shop. The best way to estimate these costs is to allow one quarter of the sum of your other costs.

From hereon, keep records of all of the above expenses, plus any extra costs, such as shipping costs on orders for supplies, office equipment and business-related software . Keep all invoices and receipts, and be sure to record your time and wage for each jewelry item.

You may think selling your jewelry means opening a shop, but this need not be so. In fact, it’s rally not a good idea to start your business from outside your home, considering the enormous overhead and the time it takes to build a customer base that will support the shop and begin to turn a profit. In the meantime, here are a few ways to get your business off the ground, working from your own home.

Host a Home Jewelry Party: You can have a jewelry party in your own home or ask a friend, neighbor or family member to host one for you. Have it a time convenient for all the guests you intend to invite, maybe a Saturday afternoon, or an evening during the week. Play games where guests can win door prizes, serve light refreshments, and show your jewelry. Pass the jewelry around so guest can get a good look at it and allow them to try it on, providing mirrors so they can see how different pieces look on them. In this friendly and comfortable environment, you are sure to make some good sales and profits!

Crafts Fairs: Crafts fairs are one of the most popular and lucrative ways for artisans to sell their jewelry. Through meeting other people involved in the business of crafting and selling jewelry, you can become part of a vast network in which you can learn and share new design ideas, pricing changes and the latest fashions in jewelry and accessories. Your customers can also give you a better idea of what to make and stock in your inventory. Often, they will ask questions, concerning whether you make certain designs or settings, or if you’ve ever considering using gemstones or other materials for your jewelry. By making the most of these excellent sources of information and contacts, your handcrafted jewelry business is off to a terrific start!

Online Jewelry Shops are relatively low-overhead/high exposure venues for selling jewelry without leaving your home. You can join an online shops network that specializes in jewelry and accessories, or build your own web site shop. Online auctions are immensely popular, and generate tremendous exposure! E-Bay shops are one of the most cost-effective ways of displaying your jewelry, especially since e-Bay has such a vast customer base.

Home jewelry parties, virtual shops and auctions and crafts fairs are the best ways to build your home-based jewelry business. You can try concentrating on just one, or combine two or all three venues for maximum profit. Once you learn how to sell your jewelry, you may still want to open a brick and mortar shop or boutique, but then again, you may be so hooked on the fun, excitement and excellent profits you can earn by using the above methods that you may never consider having a “real” shop again!

Author: Gary Capps