How Much to Start Up an Online Shop with Quality Inventory?

by Gail Taylor.

How Much to Start Up an Online Shop with Quality Inventory?  Discussion on Jewelry Making Journal

I will be going to my first gem / bead show in August 2016, as I have never been able to save any money because there are so many gorgeous things online, that I spend every penny I can find buying online.

I just moved to a boat and even though I am exhilarated to be on the water, my workshop took a huge cut in space.

I did manage to organize a space with my gems, tools, beads, wires, torches, you name it, it is in there; but I have to stop buying and start selling, I am getting pushed out of my work room.

My question is this: How much does it take to get started with a good amount of quality inventory?

I am going to reopen my shop with my new creations but I want to sell supplies from a second shop to try to make a larger profit, selling the overage I can’t use and buying quality gems for hand made jewelry.

I know this seems like a silly question but I am having a difficult time figuring this out.

Should I expect to pay what I pay online, or should I get better deals?

I don’t have a license to buy wholesale, but should I still expect to pay less than online?

Thanks for your answers ahead of time.

Gail Taylor

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Comments

  1. Hi Gail, here are some posts here at Jewelry Making Journal that may help you (be sure to read all the comments below these posts):

    How Do I Get Jewelry Supplies Wholesale?
    Selling Jewelry Supplies – How Do I Start?
    Linda Tenney’s comment in this discussion: How to Destash Older Jewelry Components.

    Wishing you all the best with your new jewelry directions, and please let us know how it goes for you!

  2. You definitely need a tax certificate from your state to buy wholesale. Some shows won’t let you in without one. Others will let you go as a guest but not a buyer, and your name tag will reflect that. It also helps to do a little homework to get the best prices. Before I go to a show, I make a list of things I particularly need and check prices on my favorite websites first. Some items I ONLY buy at shows, others it’s just as easy to buy online. I try to fill my “needs” list first then look for surprises I can’t live without. (Okay, I confess, I do have some “what was I thinking” items I’m still trying to figure out what to do with, lol.) And most of all, have fun! I have met some delightful people at shows, and there is always so much to see. We have another jeweler friend who does shows with us: we meet for breakfast at McDonald’s, a great share time, then do the show. And do be aware that you have entered a world of addiction … those gemstones are impossible to resist!

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