What I've learned so far
I've been making and selling jewelry for a good 5 years now. And I consider myself a fast learner, and have grown in my designs and style. But the business end is something that has and is taking a much longer time to grasp.
This year so far, this is what I have learned, which is my own personal experience.
Consignment is not making me much money. I realized this when I pulled out of one of my shops. The "split" was too high. Most shops that have consignment work on a 60/40 split; where the artist gets 60% of the sale, and the shop gets 40%. This is o.k. if you're pricing your items correctly in order to make a profit. Others that price any higher, or that you must pay a membership fee, have not worked well for me.
copper feather cuff
I realized that I was always struggling to make and have enough inventory to sell at shows. That included continuing to need to purchase more and more supplies, whether I had the cash flow or not.
Now that I've streamlined how many shops that I have my work in, I am in a more comfortable space, having more than enough jewelry for my upcoming shows. (Of course I'd like to move this merchanidise quickly, and make my money back.)
As I have said before, I work with an almost non-exsistant budget. I don't really recommend this to anyone who wants to make selling your goods a full-time job.
You must have a budget and some money to back up your business. Cash flow is important.
Red copper cuff
So, for me, I realized that moving slowly, and not trying to force my business to happen, is probably a good thing. When I first started making jewelry, a lampwork artist I met, told me that taking it slowly, and building it up (your business) was a good thing. I now can agree.
It's all a learning process. Now this may not be your experience, as I speak from my own. If you can use any of this information, please do; and if you have any suggestions or personal experiences with your business, I'd love to hear about it.
Comments are welcome!
This year so far, this is what I have learned, which is my own personal experience.
Consignment is not making me much money. I realized this when I pulled out of one of my shops. The "split" was too high. Most shops that have consignment work on a 60/40 split; where the artist gets 60% of the sale, and the shop gets 40%. This is o.k. if you're pricing your items correctly in order to make a profit. Others that price any higher, or that you must pay a membership fee, have not worked well for me.
copper feather cuff
I realized that I was always struggling to make and have enough inventory to sell at shows. That included continuing to need to purchase more and more supplies, whether I had the cash flow or not.
Now that I've streamlined how many shops that I have my work in, I am in a more comfortable space, having more than enough jewelry for my upcoming shows. (Of course I'd like to move this merchanidise quickly, and make my money back.)
As I have said before, I work with an almost non-exsistant budget. I don't really recommend this to anyone who wants to make selling your goods a full-time job.
You must have a budget and some money to back up your business. Cash flow is important.
Red copper cuff
So, for me, I realized that moving slowly, and not trying to force my business to happen, is probably a good thing. When I first started making jewelry, a lampwork artist I met, told me that taking it slowly, and building it up (your business) was a good thing. I now can agree.
It's all a learning process. Now this may not be your experience, as I speak from my own. If you can use any of this information, please do; and if you have any suggestions or personal experiences with your business, I'd love to hear about it.
Comments are welcome!
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