Do you want to start a jewelry business but want to go niche and be unique? If YES, here are 28 best jewelry related business ideas / opportunities for 2020.
In the United States of America and all across the world, kings, queens, princes, princesses, men and women cherish jewelries hence people usually adorn themselves with jewelries when they are dressed for occasions.
Why Start a Jewelry Business?
Without been told, the market for jewelries is not going to dwindle anytime soon. As a matter of fact, the jewelry industry will continue to grow because in most climes, jewelries are used as collateral when you go to borrow money from the bank or any lending financial institution.
There are several jewelry related business opportunities and if you intend starting your own jewelry related business, then you must take out time to learn the trade because the truth is that it only takes someone with the technical skills and one who can truly differentiate between various grades and quality of jewelry to be able to make it really big in this line of business.
It is important to state that starting a jewelry related business requires a reasonable startup capital, and the ability to market high profile clients in the society. Sincerely, jewelries especially high-end jewelries are considered to be luxury commodities and the people that purchase them must have the capital.
That is the reason why you must be prepared to target this class of people if you truly want your business to succeed. As an aspiring entrepreneur who is looking towards starting a jewelry related business in the united states of America, here are 28 jewelry related business ideas in the United States of America that you can choose from.
28 Best Jewelry Business ideas & Opportunities for 2020
- Watch and Jewelries Repair Store
One cool way of making money is to start a watch and jewelry repair business. This business is a thriving one because one out of two persons that you come across has one or more jewelries that they make use of on a regular basis. The truth is that when jewelries are used, they can wear out or get damaged hence the need for the services of jewelry repair shops.
As a watch and jewelry repair store business, your services are to repair watches and jewelries and also offer other related services that may include sizing, polishing, battery replacement amongst other services. Please note that if indeed you want to maximize profits in your jewelry repair business, you must get it registered with the corporate affairs department of your country.
Although you can operate an unregistered jewelry repair business in some countries, operating a registered one is the best way to go because it would position you to do business with corporate entities and it will enable your clients to trust you with their very expensive jewelries.
- Open a Jewelry Retail Store
Another top most jewelry related business idea that an aspiring entrepreneur can start and make cool cash in the United States of America is to open a jewelry retail store business. As a jewelry retailer, you are expected to retail new necklaces, hand chains, rings, earrings, bangles, ribbons, hairband, timepieces and sterling and plated silverware et al.
Just ensure that your store is well positioned and well stocked with various designs of jewelry for both male and female and also secure payment platform, and you will be amazed at the rate of sales you will be generating regularly.
Gold buying and selling business is yet another jewelry related business idea that can thrive in the United States of America. If you have a penchant for gold jewelries, you can indeed make good money if only you can be willing to start your own gold buying and selling business.
Gold buying and selling is one business that is not common not only in countries with rich deposit of gold, but also in countries without a goldmine; it has a very high profit margin. People that are involved in this business would admit that they are making huge returns on their investment.
If you intend starting your own gold buying and selling business, then you must make out time to learn the trade because the truth is that it only takes someone who has the technical skills and one who can truly differentiate between various grades and quality of gold to be able to make it really big in this line of business.
- Open Jewelry Rental Shop
Another viable and money making jewelry related business that an aspiring entrepreneur can start and make money from is a jewelry rental shop. In the United States and of course in most countries of the world, there are people who are not interested in buying and keeping jewelries for obvious reasons but would rather rent when they are in need of it. Just ensure that you have choice jewelries for rent and you have a structure in place that will ensure that renters return your jewelries as at when due.
Opening an antique store is yet another jewelry related business ideas that can thrive in the United States of America. Antique malls retail or auction antiques and collectibles such as coins, jewelry, books, figurines and memorabilia.
The market for antiques and collectibles has continued to soar because we still have people who appreciate antiques and collectibles. Depending on the scale you want to start, the startup capital for this type of business can range from moderate to high. As a matter of fact, it is advisable to run an antique mortar and brick store alongside an online store if indeed you want to maximize profits in this business.
Do you know that when people are in need for quick cash, one of the things they sell is their jewelry? So, if you are looking for a jewelry related business to start in the United States of America, then one of your options is to start a business that deals in secondhand jewelries; a jewelry consignment business. Basically, jewelry consignment stores engage in buying second hand jewelries and watches and then resale same to buyers. Most of them also sell pendants and refurbished jewelry.
Opening a diamond and jewelry retail outlet is another jewelry related business idea that an aspiring entrepreneur should consider starting in the United States of America. If you have a penchant for diamond and jewelries, you can indeed make good money if you can be willing to start your own diamond retailing business.
Diamond retailing business is one business that is not common in most parts of the world, but it has a very high profit margin. People that are involved in the retailing of diamond would admit that they are making huge returns on their investment
It is important to state that starting a diamond retailing business requires a reasonable startup capital, and the ability to network and market high profile clients in the society. Sincerely, diamond is considered to be a luxurious commodity and the people that purchase it are those who are well to do.
- Open an Online Diamond Store
Beyond renting a physical shop where you can retail your diamond, you can also leverage on the online community to sell your diamonds. You can open an online shop where people can buy diamond from. The good thing about online stores is that it can be easily accessed by people from all over the globe.
The only little challenge you may be confronted with is the delivery (shipping) of the diamonds when they are purchased by someone who lives in a country that is far from where your business is located. So, if you are looking towards starting a jewelry related business in the United States of America, then you should consider opening an online diamond store.
Another jewelry related business idea that can be started in the United States of America is diamond cutting and polishing. Diamond cutting and polishing stores are basically involved in changing a diamond from a rough stone into a faceted gem.
Cutting and polishing diamond requires specialized knowledge, tools, equipment, and of course techniques because of its extreme difficulty. The diamond cutting and polishing process includes these steps; planning, cleaving or sawing, bruiting, polishing, and final inspection.
If you have a penchant for diamond and jewelries, you can make good money if only you can be willing to start your own diamond cutting and polishing business. People that are involved in the cutting and polishing of diamond would admit that they are making huge returns on their investment.
- Start Buying and Selling Silver Jewelries
Buying and selling silver is yet another jewelry related business idea that an aspiring entrepreneur can successfully start in the United States of America. If you are conversant with the history of the ancient times, you would realize that silver has always been one of the components used in measuring the wealth of an individual or a nation.
The use of silver cannot be trashed with time, but rather more options of what to do with silver would continue to open up as time goes by. People would continue to improvise, and if you are fortunate to inherit silver from your parents or grandparents, you can still pass them over to your children and your grandchildren as their value would continue to increase.
Another jewelry related business idea that an aspiring entrepreneur can start and make money from is an online jewelry store. If you operate a conventional brick and mortar jewelry store, you can leverage on the internet to expand your target market and of course make more money.
All you need to do is to employ the services of a web designer to help you design an online store and then secure a good online payment software and shipping arrangement and before you know it, you will start attracting customers from far and wide especially if your prices are competitive.
- Start Selling Beads and African Inspired Jewelries
Selling of beads and African inspired jewelries is yet another jewelry related business idea that can be started in the United States of America. There are loads of African migrants and even migrants from Jamaica, Haiti, Trinidad and Tobago, and Barbados et al who take delight in adorning African beads and jewelries.
So, if you know how to make beads or you have access to supply of beads, then you should consider opening a store where beads and Africa inspired jewelries will be retailed. The truth is that if you store is well located in an African community, you will be amazed at the rate of patronage you will enjoy.
- Start Selling Caribbean Jewelries
Similar to selling beads and African inspired jewelries is selling of Caribbean inspired jewelries. In case you don’t know what Caribbean inspired jewelries look like, it is those colorful jewelries made from plastic. Although this type of jewelry is cheap, but the volume of sales is always on the high side. So, if you are looking for a jewelry related business to start in the United States of America, then you can open a store where Caribbean jewelries are sold.
- Start Selling Fool’s Gold
There are people who can’t afford gold but would want to wear gold jewelries, these people usually settle for what is called fool’s gold. Fool’s gold are jewelries that are made from gold plated metals. Such jewelries can easily fade when subjected to hash weather or water.
So, if you are looking towards starting a jewelries related business, you should consider opening a store that retails fool’s gold. One good thing about this type of business is that it requires minimal startup capital when compared to retailing pure gold jewelries.
Those who are engaged in buying and selling jewelries get them from jewelry manufacturers. This goes to show that as long as jewelry retailing businesses continue to thrive, jewelry manufacturing companies will also continue to flourish.
It is important to state that starting a jewelry manufacturing company can be capital intensive, but it is indeed highly profitable. So, if you have strong financial base and you are looking towards starting a jewelry related business, then you should consider settling for jewelry manufacturing business.
16. Supply of Raw Materials to Jewelry Production Companies
The supply of raw materials to jewelry production companies is no doubt another lucrative jewelry related business idea that an aspiring entrepreneur can start in the United States of America. Good enough, there are loads of raw materials that are used in the production of jewelries like gold, silver, plastics, beads, and copper wire amongst others.
If you are certain you can get all these in commercial quantities, then you are sure going to do well when you launch your raw material supply business.
- Go into The Production and Sale of Trinket Boxes
If you are looking towards starting a jewelry related business in the United States of America, then you can go into the production of trinket boxes. Trinket box is a box that is specifically designed for housing jewelries. The fact that everyone who has a collection of jewelries has a trinket box shows that those who are into the production and sale of trinket boxes are truly making good money. In order to maximize profits from this type of business, you must ensure that you establish business relationship with jewelry retail stores in an around your city.
Selling of diamond engagement rings is yet another jewelry related business that an aspiring entrepreneur can successfully start. It is very needful that you know some basic information about the diamond business. There are various features through which an expert can evaluate a diamond and they include; the metal cut, clarity, color, as well as the carat.
In order to maximize profits from your diamond engagement rings business, you must get a list of celebrities and wealthy people whom you know might be willing to buy a diamond engagement ring. You could choose to contact them through email or telephone. Tell them you are willing to meet with them, so that they could take a look at the ring. Remember, you must explore all possible avenues to sell your diamond ring.
- Caribbean Jewelry Manufacturing Company
Caribbean Jewelries production is yet another thriving business that an entrepreneur who wants to start jewelry business can start. There are rooms to start this type of business on a small scale, medium or large scale. The fact remains that there is a large market for Caribbean jewelry because they are colorful and cheap and women never get tired of purchasing jewelries.
Please note that if you want to start a Caribbean jewelry production company, it is not a must that you should establish the factory in Jamaica, Barbados, Haiti or any Caribbean country. You can start open your factory in the United States and still do pretty well.
- Go into The Production and Sale of Copper Wire Jewelries
Another jewelry related business idea that an aspiring entrepreneur can successfully launch in the United States of America is the production and sale of copper wire jewelries. Copper wire jewelries are everywhere and you will agree with me that these jewelries are truly good looking and long lasting especially when compared with other low rated jewelries.
So, if you are looking towards starting a jewelry related business, then one of your options is to go into the production and sale of copper wire inspired jewelries.
21. Go into The Designing and Production of Wristwatches
Designing and production of wristwatches is yet another money spinning jewelry related business idea that an aspiring entrepreneur can start in the United States of America. On the average, without a good wristwatch on, you would not have been considered to be fully dressed.
Aside from the fact that people wear wristwatches to know time, wristwatches are also part of fashion accessories. Starting a wristwatch manufacturing company is a capital intensive project, but the truth remains that there is a large market for wristwatch and if you are able to create a class for your wristwatches, then you will be able to attract customers from all over the world.
- Start Retailing Designer Wristwatches
Retailing of wristwatches from a wide range of designers is yet another lucrative jewelry related business any serious minded entrepreneur can start. There is a large market for wristwatches and some people spend fortunes on customized gold wristwatches.
So if you are looking for a jewelry related business idea to start, then you should go into the retailing of designer wristwatches. If you want to be among the front – liners in this business in your city, then you must be ensure that you have some of the leading designer wristwatches in your store.
23. Go into the Production and Sale of Cufflinks
The production and sale of cufflinks is yet another money making jewelry related business idea that an aspiring entrepreneur can successfully start in the United States of America. There are different grades of cufflinks depending on the materials used in making them.
The bottom line is that the market for cufflinks is pretty large; men, women and children make use of cufflinks. So, if you are considering starting a good jewelry related business, then you should consider going into the production and sale of cufflinks.
- Starting Blogging on Jewelries
Another jewelry related business that can be started in the United States of America is blogging; jewelry cum fashion blogging is all about educating or passing information to people. Blogging is one of the means people are making money from the internet.
Blogging is all about creating useful and perhaps educative content for a targeted audience on the internet. If you think that you have good knowledge of jewelries and fashion, you can make money by sharing your knowledge with a wide range of audience via your blog. This is how making money from blogging works; if you have good contents on your blog, loads of people will visit your blog.
The larger the traffic that visits your blog, the more money you will make. If you blog attracts huge traffic, you can attract adverts from organizations. You can also earn money from your blog via AdSense, by offering subscription services to members and also selling your products via your blog.
The publishing of jewelry cum fashion magazine is yet another business that an entrepreneur can successfully launch in the United States of America.
Although there are loads of fashion magazines out there who also have robust content on jewelries, but one thing is certain, if your magazine is known to contain good and useful contents as it relates to maintaining jewelries, identifying fake jewelries, top jewelries retail outlets, and the latest trends in the jewelry industry amongst others, then you will surely attract customers.
So if you are considering starting a jewelry related business, then you have the option of going onto the publishing of jewelry magazine.
- Open Bead and Handcraft Jewelry Training School
Another jewelry related business idea that is sure going to thrive in the United States of America is bead and handcraft jewelry training school; a school where students will learn the art of beading and producing other handcrafted jewelries.
You don’t need to visit Hawaii before you come across handcrafted jewelry training schools, you can find them in cities in the United States of America. So, if you are looking towards starting a jewelry related business, then you should consider opening a bead and handcraft jewelry training school.
- Start Organizing Trade Fairs Targeted Towards Jewelry Manufacturers and Retailers
If you are good with organizing events, then one of the best jewelry related business idea that you can start is organizing trade fairs targeted towards jewelry manufacturers and retailers. Trust me, there are loads of jewelry manufacturers and retailers who would leverage on your platform to generate more sales for their business.
All you need to do to attract key stakeholders in the jewelry manufacturing and retailing industry is to ensure that you put strategies in place that will help you direct traffic towards the venue of your trade fair.
- Open a Jewelry Engraving/Customizing Shop
Another interesting and money making jewelry related business idea that an aspiring entrepreneur can start in the United States of America is to go into jewelry engraving/customizing. If you are a close watcher of happenings in the American music industry especially rap artistes, you will notice that most of them usually wear customized neck chains and rings.
Jewelry engraving/customizing shops engrave designs, numbers or text on jewelries for consumers and businesses. Their services include laser engraving, reverse engraving and other engraving techniques that is applicable to the materials they want to work with. So, if you are looking for a good jewelry related business idea to start in the United States of America, then you should consider opening a jewelry engraving and customizing shop.