 |
|
 |
|
Gold Filled, Round smooth spacer bead,
light weight, 7mm |
|
|
 |
|
Sterling silver Plain lever back earring
findings with open ring, 1 pair |
|
|
 |
|
Sterling silver Plain Lever back earring
finding with plain shell design |
|
|
 |
|
Sterling silver Lever back earring
finding with fleur de leis(V design) and
open ring |
|
|
 |
|
Gold filled bulk chain, medium flat
curb, medium weight, 3.6x5.5mm |
|
|
 |
|
Gold filled bulk chain, medium textured
curb, medium weight, 3.7x5.5mm, 25 gauge
wire |
|
|
 |
|
Gold filled bulk chain, small curb,
medium weight, 1.6x2.1mm |
|
|
 |
|
Gold filled bulk chain, medium oval
curb, heavy weight, 3.6x7.5mm, 20 gauge
wire |
|
|
 |
|
Sterling silver large diamond cut cable
chain, medium weight, 11x11mm links with
23 gauge wire |
|
|
 |
|
|
 |
The below article was
published earlier and had a overwhelming response.
It is only natural for us to bring it back here
again in anticipation of a repeat performance from
our esteemed customers.
| Starting and
Running a Jewelry Business - Part 8 |
Over the past 7 weeks we
have covered:
Starting your business and the steps involved.
· Pricing your jewelry (or other creations).
Includes examples.
- A "Basic Rule".
- Materials costs
– base & secondary.
- Design &
Creation time
- value of Name
recognition
- Intrinsic and
perceived value
- General business
costs.
Wholesale
pricing.
Let's look again at some of the questions I listed
in part 1 of this series:
"My co-workers love the jewelry pieces I make
for myself, and they want to buy them. How much
should I charge?"
I hope by now you understand that your work has
value. It is relatively common for women to
admire the beautiful jewelry that another woman is
wearing. Sometimes when they find out you are the
creator, they ask to purchase your creation. In
doing so, they are they are confirming the value of
your work. Since they are confirming your work has
value, you, too, should respect yourself & your
work, and charge accordingly.
"How do I figure my costs and selling prices
for my jewelry?"
Go back to "The Basic Rule". YOUR MATERIAL COSTS X
3, + YOUR DESIGN & CREATION TIME, + "NAME
RECOGNITION", + INTRINSIC VALUE.
The Basic Rule is only a basic guide, a starting
point, to help you develop your own pricing
schedule. One in which you can recover all of
your costs, be paid what you are worth, and make a
profit.
"A woman told me that she would pay me my
costs and she will wear my jewelry for people to see
and I'll get a lot of business. Is this how I should
start my business?"
First, she is telling you that your work is
special and valuable.
Second, unless she is a great sales person with a
large social circle of friends with the money to buy
your creations, you'll end up with nothing and she
will have your wonderful creation without paying for
it.
"What jewelry
supplies can I buy (with a state resale number)
without paying the sales tax (California)?"
You may purchase "for resale" the following items,
only: 1) everything that will be included in the
final product when it is sold; 2) packaging for your
product when it is sold and delivered to your
client.
You must pay sales tax on everything else you
purchase that is not physically included in your
final product when you sell it. The state requires
you to account for everything you purchase "for
resale", and it expects you to pay the unpaid taxes
on everything you do not sell.
The state requires you to pay, to them, the sales
tax for all items you sell. They don't care who
pays the tax (your client or you), as long as they
receive their money. I suggest you collect the tax
from your client when you make the sale.
|
|
|
|
|
Pendant
Uniquely designed sterling silver pendants and base
metal pendants with gemstones in various shapes and
sizes.
Pearls
Fresh water pearls available in a Wide Variety of
Colors, Shapes & Sizes.
Metal Beads
Uniquely Designed Sterling Silver & Base Metal Beads
Gemstone Beads
Wide Variety of Gemstone beads in different shapes,
sizes and colors. |
|
|
"My hairdresser has offered to sell my jewelry
in her salon. She will display them and pay me after
she sells them. How much do I charge?, Do I need a
written agreement? Who is responsible for the sales
tax? Help!"
This is called a "consignment" sale. Because
she is not purchasing your creations, outright, and
you will have to wait for your money, your discount,
to her, should be less than for a regular wholesale
sale.
It is very important to have a written contract
between you and the consignee. It should cover
each person's responsibility, when you will get
paid, how and when you will recover all unsold
merchandise, physical responsibility, etc. You can
find sample Consignment forms in books on crafting
as a business. (See book references.)
The Consignee should be responsible for the
collection, and paying to the state, local sales
taxes.
"How can I make sales and charge the prices
you tell me to charge?"
First, I'm not telling you how much to charge. I
am giving you information, and the tools to develop
your own pricing schedule. One in which you will
cover all of your expenses, receive a reasonable
compensation for your creativity and craftsmanship,
and make a profit.
Don't take the attitude, "I'm not worthy." If you
are creative and a fine craftsperson you are every
much as worthy as Paloma Picasso (Tiffany & Co.).
Produce fine quality, creative and unique
jewelry.
Be creative and do not create jewelry that
resembles mass produced, cheap and/or imported,
jewelry.
With your wonderful work, you should aim high.
Set your "Client Level" and "Price Point" high,
and you will take yourself out of the arena of the
low talent and low priced "designers". Remember,
"Heavy Weight" boxers never have to worry about
"Bantam Weights." Whether it's beads or boxing, or
music, "want-to-bees" with no talent will always be
in the background. So always keep yourself in the
front.
Next week I will finish this series with a few more
comments, a number of reference books and magazines,
and more.
. |
Thank you- it is a pleasure doing business with
you and I am certain I will have more orders in the
future. I design and sell jewelry and I am always
looking for good suppliers.
Laura |
|
|
|
