Making the Bracelets
Decide whether or not your existing bracelets are sufficiently good for selling. You may make fantastic friendship bracelets but so do many other people. It is important to make bracelets that are either hard to make/time consuming for others to make or are so unique and fascinating that they create their own niche of desire. If your bracelets already fit one or more of these requirements, then that's great. If not, you'll need to do some research and experimenting to increase the saleable nature of the bracelets you're producing. Things to consider include: Do you need "upskilling" of any sort? Maybe taking a course in jewelry making will take your skills to the next level needed to produce amazing works of art from your bracelets? How unique is your bracelet style? What about your bracelets suggests to potential wearers that they're wearing something different from the standard bracelets available out there? Check out what is happening in bracelet trends using online image searches such as Google Images or Pinterest. Are your bracelets durable as well as beautiful? A buyer won't be happy if their gorgeous bracelet breaks on the first wear. Do plenty of testing by wearing them yourself. Ask friends to wear some of your creations and to give you feedback on how they feel, work and last. Keep notes of the feedback so that you can make improvements where needed. Think of unique ways to develop the bracelet. For example, maybe you could make a bracelet that intertwines in some way with a FitBit, to make the FitBit fancier or more girly, or whatever else you can come up with. Work with what is current!
Be budget wise. As lovely as your bracelets are, they must be affordable and you must be making a profit on them, otherwise they remain strictly within the realm of hobby fun. Do plenty of research on sourcing your materials at a cost that allows for you to sell the final bracelets at affordable prices, with a margin for profit. Draw up a budget sheet showing how you will manage this. Get help from a numbers-minded friend or family member, if needed. The budget should cover materials costs, workshop costs, packaging costs, marketing costs and fuel costs. Your time is free, that's just the reality of being your own boss! If you make high-end bracelets, be sure to develop your brand very carefully so as to indicate this from the outset. However, it would be wise to make more affordable bracelets to begin with, to build your financial base and renown for your design skills.
Make lots of bracelets. You cannot run a business without an adequate quantity of products. For starting out, make at least 20 bracelets of each kind, in different colors or styles, as suited to your particular types of bracelets. The larger your range of styles, colors and sizes, the more customers you are likely to attract. If trying to persuade a store to buy or sell your bracelets, have a display case or box which showcases each type of bracelet you are making as part of your brand. You can open this display up to let potential retailers of your bracelet see the variety and quality firsthand. Arranging the bracelets on a background such as rich velvet, satin, or similar can help to enhance the impression of high quality. Many businesses in the jewelry industry are conservative, so a bit of old-school approach may be helpful.
Marketing the Bracelets
Develop a brand for your bracelets. This part cannot be overlooked because you are selling an item that is commonplace and available everywhere. Hence, you need to convince customers of the worth and uniqueness of your particular bracelets, so as to encourage them to want to buy yours. Consider the following when planning your brand: What sets your bracelets apart from other bracelets? For example, you might have sourced the beads from Fair Trade creators and their use and sales help to support a local community. Or, you might have used stones that are said to have healing properties. Or, you might have used a unique technique that others don't use. Or, you might have a fine arts degree that makes your bracelets one of a kind in design. Whatever it is, tell the story! What name are you going to use for your brand as a whole? Keep it punchy, clever and memorable. Will each bracelet style have individual names? Do you have a cool/interesting/eye-catching logo? Get one designed if you cannot do this yourself. It is an important part of your brand. Will the bracelets come with anything of added value? For example, a box, a cloth bag, a certificate of authenticity, etc.?
Develop a fancy label or tag and maybe a box to go with each bracelet. This will allow you to place your brand on each bracelet and to perhaps even add some text explaining the value of the bracelet in such terms as what it might do for the wearer, what special properties it might have and how it is the latest in fashion, etc.
Other Considerations
Decide whether or not you wish to go this alone. If not, you'll need to find a business partner. This person can help you make and sell your bracelets, and give great advice on what to do. They can help you speed up the process of your money-making scheme, but bear in mind that they will most likely (and rightly) want a share of the profits. Some business partners may be content to fund the operation but not help out. That's okay too, provided it is okay with you.
Check all local rules and regulations with respect to sales. If you are planning on selling on a street, outside your house or in a park, for example, you must comply with the rules about setting up sales in such areas. Fines make running a business a costly endeavor.
Have a clear price list. If people have to fumble for prices or guess, they won't buy. This is especially so when shopping at market stalls. It isn't polite to hide prices; many people base their decision to buy on affordability and this means that they need to see the price, not be baited into handling the item to find the price, only to have the seller pounce on them with the hard sell. For online sales, ensure that prices include all sales tax and are absolutely easy to find. Ensure that all prices are understandable, and inclusive of all taxes. Be open to negotiation on prices when selling at stalls or by consignment. Have set prices for the viewing by the retailer but be ready to move on it slightly, as needed, during negotiations. Bulk lots usually necessitate some form of discounting. If using auction sites, use a buy-it-now option always. Many a buyer is lost because they couldn't buy it when they wanted it; attention spans online are very short. If selling by consignment, remember to include the seller's cut in your profit margin.
Restock regularly. Once you are into a good sales mode, you'll need to keep the stock up. This means making time to make more bracelets, to ensure that there is always a decent supply of stock ready to draw on. You never know when you might be asked for a bulk order of bracelets from a store or retailer wanting your items once they've become better known and sought after.
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