Tuesday, November 4, 2014

Selling Jewelry on Consignment: Dos and Don'ts

For creative people who are into handmade jewelry and other crafts, getting into business and gaining profit from your creations can be the next best thing to do. However, with the big overhead cost of establishing your name and managing your own store, selling on consignment may be the next practical option for you.

Do's and Don'ts on Selling Jewelry On Consignment

Selling on consignment basis can have a lot of advantages especially for those who are just starting to make money out of their passion. If you haven’t tried selling your items to retail store just yet, this is the best time to try and explore different opportunities that can help grow your business and expand your market.

To help you become successful in your jewelry endeavors, here are some quick dos and don’ts.

Do choose retail stores carefully

The sales and exposure you can get from putting your items on consignment depends on the shop that you’re transacting with. Make sure they have the credibility and security that will be very essential in selling your handmade jewelry.

Do look for shops in great locations

Location is a big game changer especially in highly competitive industry like fashion. To reach your target market, it is important to choose shops that are more accessible to your customers. If you’re selling to teenage girls or students, you might want to look for shops near university or colleges.

Do make sure your jewelry fit in their new home

Before approaching any shop, always ask yourself if your jewelry will fit in with their current inventory. This way, once your jewelry is up on display your jewelry will look great along with the other items available on hand.

Do look for shops with great store set up

Nowadays, shoppers are more attracted to visual signals. This means looking for shops with great necklace display will give you better chance of getting your items noticed. If the store will give you a specific place, you can even find a way to make it more attractive to your intended market.

Don’t expect for big sales right away

Even though consignment can be a great option for handmade jewelers, it doesn’t really guarantee you a quick sale and big profit. To keep sales up, be prepared to go extra mile to help promote your items or update your inventory from time to time. Also make sure to build a good relationship with store owners so they can help you monitor and keep your items in good condition.

Don’t forget to do your research

There are a lot of things about consignment that you might need to know that can actually help you become more successful in your business. Join forums, ask fellow jewelers or ask around the area and get the information you need so you can be more prepared with whatever that will come your way.

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