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How to Make Money from Your Handcrafted Jewelry

By: Lee Dobbins

So several years after you started taking on a handcrafted jewelry hobby, you are probably now an expert in the craft. Perhaps your drawers and cabinets are overfilled with necklaces, earrings, bracelets and other trinkets. Maybe you have already run out of friends and relatives to give these things away. Now is the time for you to make money from your handcrafted jewelry by selling them.

For many hobbyists, taking the next step of making a pastime into a means of earning is an exciting phase. However, there are also many of those who could still be quite hesitant take their handcrafted jewelry hobby making to the next level because of many uncertainties that may come along the way. If such is the case for you, read on and discover how you could make your hobby not only pleasurable but lucrative as well.

Where to Sell Your Handcrafted Jewelry

For many people, selling would mean putting up a store or a boutique, but this should not always be the case for beginners. Building a shop can be intimidating, and not to mention risky, especially during the early stages. The best thing to do is to test the waters (i.e. the market) first before taking the plunge into a full-pledged handcrafted jewelry business. Here are some great venues where you can start up.

1. Handcrafted Jewelry Parties at Home - this is where many successful handcrafted jewelers start out. They invite their friends for some snack or dinner one afternoon or evening. As desert is serve, and small talk begins, you can show your guests your latest creations. Let them take a look and feel of your products. Have mirrors handy and allow guests to try your jewels out for size. This relaxed and friendly environment could be a great venue not only to take pride of your handiwork but also to sell them to people who are close to you.

2. Handicraft Fairs - after hosting some parties, you may now try to venture into the outside world, and a great place to do this is in handicraft fairs, where people of the same interest gather to look and shop for interesting finds. Fairs provide great settings novice jewelers as they provide good learning experiences such as the latest trends in the business. This is also where you could meet with potential contacts for your future handcrafted jewelry ventures.

3. Online Jewelry Shops - you may also take advantage of the convenience afforded by technology by selling your products online. The great thing about online shops is you could reach a wide market without having to leave your house. You may join an online shops that specialize on accessories or you may also sell you goods in online auction sites. For a minimal cost you could enter a vast ocean of potential customers. eBay is now a phenomenally popular site that sells everything from pets to computers, and you could greatly take advantage of his wonderful channel.

You may also put up your own website so that people would associate your products directly to you. Publishing and maintaining websites these days are no longer costly and considering how much you would earn with your handcrafted jewelry business, this could be a venture worth taking.

For How Much You Can Sell Your Handcrafted Jewelry

This is another area of handcrafted jewelry business that perplexes a lot of people, however it is actually very simple. You just have to take not of the costs of your materials, how much work you have placed on the crafts, and the overhead. To do this you need three steps:

1. List the cost all the materials and tools you used for making the jewelry.

2. Carefully think how much time and effort you gave to make your goods and decide how much you are willing to pay yourself. Perhaps in the beginning it is reasonable to pay yourself $10 or so for every hour you worked. You can increase this as your business grows.

3. Finally, take not of all the other expenses that is related to your jewelry making. This could include the rent of the stall in the trade fair you joined, or the website maintenance expenses, or the telephone charges you got from calling contacts. Usually, these miscellaneous expenses can be estimated by taking 25% of the your material and labor costs.

With these in mind you would know how much your goods are worth, so that you would neither overprice nor under-price.

Making money out of your handcrafted jewelry is not as difficult as it seems. With determination and hard work you could be earning from your hobby in no time.

Article Source: http://www.homesteadarticles.com

Lee Dobbins, an avid jewelry collector, designer and dealer, hosts www.jewelerati.com where you can learn about all kinds of jewelry from vintage, to modern to unique handcrafted jewelry.

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