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How to Become a Jewelry Dealer
People often buy jewelry not just for themselves, but to give as gifts or to mark a special occasion, such as a birth, engagement or wedding. Because demand for jewelry purchases is year-round, becoming a jewelry dealer can be a profitable retail business to get into. There are several ways to start a jewelry dealer business, no matter what your budget.
Specialize in a jewelry niche--this will help your focus on a particular target market. For instance, you can sell sterling silver rings, fashion, genuine gemstone or artisan jewelry.
Pick a business model for your jewelry dealer business. You can distribute jewelry wholesale to retailers, sell jewelry via a physical or online storefront, or sell jewelry via home parties. Choose more than one business model to maximize your profits.
Obtain the permits needed to start a retail business in your area. Depending on where you live, you may need a fictitious name certificate (DBA), employer identification number (EIN), resale permit, sales tax permit or state tax identification number.
Secure a venue to sell or store your jewelry. If you plan to be a wholesale distributor, you will need a clean warehouse or space free of dust, dirt and sunlight. Jewelry retailers can sell at flea markets, malls, in a leased building or through home parties. Internet jewelry dealers have the option of opening an e-commerce website, selling through an auction website or an online artisan marketplace.
Buy wholesale jewelry for your business. Contact jewelry distributors and open a wholesale account. You will likely need to provide your resale permit or EIN, and place a minimum order ranging from $50 to $250. You can also build up inventory by visiting auctions, estate and garage sales.
Promote your jewelry dealer business. Launch a promotional blog, start an email newsletter list, send press releases to popular fashion websites, forums, blogs and publications or join a jewelry dealer's network such as Jewelers of America or the Retail Jewelers Organization. In your community, try sponsoring a fashion show at a local college or placing fliers and coupons in clothing boutiques and coffee shops with the owner's permission.
Melinda Gaines has been a freelance writer since 2006, with work appearing online for YellowPages and other websites. Her areas of expertise include business, beauty, fashion and sports. Gaines attended the University of Houston where she earned a Bachelor of Science in sport administration.