Starting a Jewelry Business? Some Questions to Consider

What’s the Right Inventory for my Jewelry Business?

Get this one right and you’ll have a great career in logistics in your future. My initial business plan called for my website to have three separate sections: facet rough, jewelry, and gemstones. The facet rough section opened first, and I’m going to focus on that section in this article. (The same issues came up when I opened the jewelry and gemstone categories).

Your decisions on what materials to stock, what sizes, and how much of each are critical to the success of your jewelry business. The financial realities of these issues and your budget will force you to choose whether you’re going to serve a specific market, i.e. just people who want corundum, or offer a mix of different minerals.

The Gem Cutter Customer

Within a few weeks of opening my facet rough section, I realized that gem cutters want a WIDE variety of popular pieces. This is what specifically led me to the question of what inventory to stock. Most gem cutters have specific requests for the rough they want. Common requests are for a certain shape, size, hue, yield, etc. The majority of my business now involves special…