If you’re not looking at brick and mortar shops as your dream jewelry store, don’t be mistaken that setting up online jewelry is easy. While setting up a retail store can cost upwards of $30,000, buying a website might cost less than $4 USD a month. But, the actual cost of producing your own jewelry to selling it online with photographs and description buyers cannot touch, is higher. We’ve evaluated the technical equity to sweat equity you need to start your own jewelry after consulting with jewelry experts.
This is the last ingredient you need to build and grow your business. Ready to build your business empire of jewelry you love?
Depending on the type of jewelry you want to design, the total cost of setting the first foot to start your online jewelry can rise or crack. It can scale from $10 to $10,000 and $100,000 in a few weeks if you’re not careful.
You should know the cost of starting a jewelry business so that you know what you’re in for. The estimate will fund your dreams without extinguishing all your savings. It will help you plan and strategize your moves. That’s why our experts are here to help.
Let’s begin the calculations.
To start with, most entrepreneurs take time to launch their jewelry store when they are on their own. From a few months (if you have a lotta dough) to a couple of years, time is varied based on the industry standards for building a quality jewelry website ready to sell. WithJK can get your website up and running from a few days to months at affordable rates.
If you’re a creative person, getting the costs right will be half the battle. Getting your website up and ready 24x7 might sound like an easy task. It is unless you don’t know what you’re getting into.
Getting a domain and web host can be as low as $3.95 USD or as high as $2000! On top of it, the cost of the template adds up to another $50 USD. If you want an easy to use Shopify store to sell from, it costs $29- $79 USD. You must assess the top few domains before you set your eyes on anyone.
With an average project cost of setting up a website with just a developer around $680 USD, the hourly charges can range from $20 to $99 USD. Don’t forget you need many more things. Moreover, it can take anywhere between 100 hours to 600 hours to set up a high traffic website from scratch. Alternatively, it takes 14 weeks including discovery, design, and development besides modifications for dev teams to set your website accustomed to your jewelry demographic.
From finding someone who aligns with your vision about the jewelry to a designer who can convert your visions into an e-commerce shop, you need competent website designers. The website design influences how your target audience relates to the brand. It needs to have an appealing, functional and easy interface. The going rate for web designers is $40- $70 USD per hour currently.
You are getting a bonus because WebDesign is all-included in your affiliate package if you sign up WithJK.
If your website is not optimized for the search engine by the SEO experts who can analyze high-traffic keywords, the website will not attract organic traffic. SEO payscale at present is $80 to $130 USD per hour and content writing is estimated at $24 to $80 USD. Together, it takes a lot of work to set up a landing page to blogs to coupons and banners that convert the traffic on your website.
When you’re a website site selling fine jewelry with money transfers, sensitive information is shared by your customer. The SSL Certificate protects it, just as the https. GoDaddy charges $69 to $299USD per year for SSL registration with a free malware scanner. Thawte is another brand that offers SSL at $149 to $639 per year. WithJK, you don’t have to worry a thing about digging a genuine SSL Certificate because we have it covered. All you need to do is sign up right away!
You don’t set up a different processor for the credit card payments. The transactions will be charged 2-3% per payment. Moreover, when you join WithJK, all your credit card payments on the store will be securely processed with our advanced security measures. You don’t have to worry a thing!
Do you know companies lost over $75 Billion USDdue to poor customer service within one year? You get one chance to impress your first customer and according to 33% American buyers, they won’t return after poor customer service. Hence, hiring customer service according to your sales and responsibilities is vital to set up your jewelry.
Do you want to hire employees or outsource customer service staff? Will you have live chat or phone service? Cost of a customer service representative is $15 USD per hour with ten calls in one hour. You can assess the size of the company your budget has cut out for you once you add up the hours you need to kick-start a successful business.
I know you’re creasing your brows calculating costs for customer service, but don’t worry. Instead, sign up WithJK, because we’ve already taken care of the best customer service. Let us worry about your worries!
Will anyone else be working on the company besides you? If you don’t know the A, B, C of management, you need to employ people who have experience of turning the table in the jewelry industry. The cost of management staff depends on the type of managers you need.
The cost of office manager spans from $31 to $42 USD. Do you need supervisors too? Start noting down!
Besides hiring the marketer or doing so yourself, there are many jobs that need filling when you’re attempting to run your own online jewelry. Now that the virtual reality is set, let us look at the legwork you need behind the stage to set up a fine jewelry web store.
This is actually the stepping stone to setting your own jewelry business. Without an expert jewelry designer, who has ties with global manufacturers (like WithJK), there is no vision to the jewelry. In the free market, a jewelry designer costs $19 to $30 USD. From consultation to designing and correction, how many hours can you afford in the long run? Will you keep an in-house designer?
From State permits you need as a business to sales tax, you need countless documents and affidavits when you’re setting up your jewelry business on your own. Not only do you need to apply for these permits, but you also need to know all the permits you need before you land in a ditch that can put your dreams in jeopardy.
If you sign up for our affiliate program, all you need to do is register your company in your country. We have all the necessary technical ability to maintain GST documents, whichever country you are from!
Without going in-depth, let me tell you how tough it is to find a manufacturer you can rely and trust on. You need a manufacturer who will design your jewelry at your price without making any mistakes in the long run.
Even if you don’t want to fall prey to the industry scams of suppliers, you will end up losing some finding the right manufacturer. Once you’re done, next comes booking the warehouse and paying the mortgage for it! What is your estimate?
The typical rate for jewelry insurance is $1-$2 per $100 of the item per year.
For example, if your jewelry shop costs $10,000, your insurance will be $100- $200 per year for the jewelry shop. Depending on your stock, this number escalates. Rest assured, WithJK every order is made on order, so there is no stock or insurance you need to fret about!
Once you have the warehouse ready, you need to make a deal with a shipping service provider or booking your own shipping. Drop shipping is another alternative where you can skip the warehouse too. But, how many orders will you need to test run for? What are the charges you need to maintain?
You need time and money to succeed. If you haven’t got money, you put in more time and vice-versa. Referred in management circles as sweat equity, the effort you put in can take a toll to overpower you. This is why should you know the cost of starting your own jewelry. It’s not just about the money, but the amount of time you will have to set aside for the business.
From finding suppliers to micromanaging all the website design and jewelry catalogs, if setting up your jewelry business is a solo venture, you will find totally immersed in it. If you’re alone, you are going to face the harsh tides and we would suggest learning your books before diving all-in. Attempt it part-time and plunge in when the profits overlap your current salary!
Do you know setting up a business burns money like paper? It is easy to hit the rock bottom if you don’t have the help you need. On the other hand, if you work on your dream business on your own on the side, it will take years and decades to realize.
Without knowing the total time and effort you need to put in, how will you access progress or success? Taking the first step to your dream can seem like half the battle, but you have many more battles if your dream is online jewelry. How many hours and days of the week will you spend on the business? Make a calendar right now.
That’s not gonna cut a good margin on the costs. But, we can!
If you’re a business looking for ways to evolve the brand name with a new jewelry shop online, you need to look at the profits you can generate. If the above sounded like a lot of work and money, you need a powerful business expert by your side. WithJK can be the ally you need to make this happen for your.
All of the above comprise the tip of the iceberg of what the growing costs for starting a jewelry business online from scratch will be. But, you can forget all those headaches about production to shipping and delivery if you join hands WithJk. That’s the third option you can save your money while building your sure-to-succeed dream on. The answer you’re looking for is WithJK.
Pairing our experience and credibility in your business will save you lump sums and costly mistakes because we already have the equipment you need to start your brand. Interested in talking with the experts? Book a call RIGHT AWAY!
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