Jewelry Making Business

How Much Does It Cost To Start A Jewelry Making Business? (In 2024)

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Updated: October 5th, 2024

Looking to start a jewelry making business?

But curious about:

how much it costs to start a jewelry making business?
what are the typical jewelry making business startup costs?
or the actual cost of starting jewelry making businesses?

Well, we have the data to prove it, supported by real jewelry making businesses and how much they actually cost to start.

Let's go over it.

What is the average cost of starting a jewelry making business?

Based on our data reported by actual jewelry making business founders, the average cost of starting a jewelry making business is between $500 and $200,000.

Additionally, our data shows that the the median startup costs for a jewelry making business are around $3.5K.

Remember, though, not all jewelry making businesses are the same - and neither are people's budgets. It's important to distinguish between different levels or types of jewelry making businesses

Real World Examples: How much does it cost to start a jewelry making business?

We asked real jewelry making business founders and business owners how much it actually cost to get started?

Here is what they said:

KC Holiday

Founder of QALO ($2M/month)

"Our largest initial investment was in the initial inventory purchase. We emptied both our savings accounts to get that first batch of rings here."

KC Holiday is the founder of QALO, a family-first company best known for being the creators of the functional wedding ring.

Read this case study

Read by 30,007 founders

Alex Moore

Founder of Gold Pan Pete Design ($2.5K/month)

"When I first started the business, I started with a basic set of jeweler’s tools which cost approx. $100. Over time, I’ve continued to grow my collection of more specific and advanced tools. Currently, I have approx $3000 worth of tools that I regularly use."

Alex Moore is the founder of GoldPanPete, a handcrafted jewelry business.

Read this case study

Read by 44,097 founders

Diane Lawrence & Dawn Pochek

Founder of Inspiranza Designs ($400K/month)

"My business partner, Dawn Pochek and I started Inspiranza Designs with just $500 and a Big DREAM!"

Diane Pochek is the co-founder of Inspiranza Designs, a sterling silver & gemstone jewelry business that sells online across the United States and has been named by Inc. Magazine as one of the fastest-growing companies in America two years in a row.

Read this case study

Read by 9,966 founders

Aziza Browne

Founder of Aziza Jewelry ($20K/month)

"After building the confidence in my skills, designs and having saved up enough funding, I began selling my jewelry at craft shows throughout NYC."

Aziza is the founder of Aziza Jewelry, a jewelry business known for its colorful gemstone hoop earrings and Mother-Daughter Earring Sets.

Read this case study

Read by 10,293 founders

Connie Hung

Founder of costanté ($75K/month)

"Truthfully, I don’t have a groundbreaking founding story. I was fortunate enough to join my partner’s business so I didn’t incur any of the starting costs."

Connie Hung is the founder of Costanté, a fine jewelry business that has been growing through custom orders and online sales.

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Read by 11,737 founders

Wendy Dailey

Founder of Purpose Jewelry ($71K/month)

"Our start-up costs were just $3000."*

Wendy Dailey is the co-founder of International Sanctuary and Purpose Jewelry, a non-profit organization and jewelry business dedicated to supporting young women who have escaped human trafficking.

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Read by 3,116 founders

Katlyn

Founder of Blue Skies & Ko ($1K/month)

"Once all of the paperwork was processed, branding complete, and the website was launched and filled with jewelry my start-up costs for Blue Skies & Ko came out to be $2,000!"

Katlyn is the founder of Blue Skies & Ko Boutique, a jewelry and clothing business that grew from a small crafting hobby into a full-time career.

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Read by 3,752 founders

Stacey Bowers

Founder of Bang-Up Betty ($7K/month)

"As far as financing my business went, I used my own savings to purchase the tools, metal and other materials I needed to get started as well as the website, business licenses, and other business aspects."

Stacey Bowers is the founder of Bang-Up Betty, a handmade jewelry and gift items business known for its quirky sense of humor and feminist tendencies.

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Read by 11,545 founders

Nicolas Tranchant

Founder of Vivalatina Jewelry ($16.7K/month)

"In 2015 I changed the theme for a paid one, I paid $180 for a professional theme and it was the best investment I could make for saving me so much time coding and the result was so much better."

Nicolas Tranchant is the founder of Vivalatina Jewelry, a custom-made jewelry business that started in 2012 and specializes in high-quality gold jewelry and personalized items.

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Read by 4,891 founders

Victor Long

Founder of Shenzhen Shibao Jewelry Co., Ltd ($100K/month)

"Before starting our business, we prepared to choose factories, the solutions to some special craftsmanship, the setting-up for the design team, the picture shooting for our products, the construction and page design of the website, and also the inventory preparation. We decided to use Google Ads to start our advertisement campaign as it is easy to control the advertisement cost. Our main target customers are jewelry distributors, jewelry stores who are doing jewelry business because we have the cost advantage but are not good at marketing. So our campaign mainly targeted the jewelry B2B search keywords just like “jewelry wholesale”, “925 silver jewelry manufacture” etc."

Long Shuai is the founder of Silverbene, a silver jewelry business that supplies more than 3,500 jewelry stores worldwide and sends out over 90,000 items every month.

Read this case study

Read by 12,821 founders

Enjoyed reading these real world examples?

Our platform is full of case studies of successful jewelry making businesses that you can learn from.

Starting a jewelry making business - what you should know:

Starting a jewelry making business involves understanding various costs that can significantly impact your budget.

Initial Inventory Costs

The cost of materials will heavily influence your startup budget. Basic gemstone beads can range from $10 to $50 per strand, while precious stones like sapphires and emeralds can cost hundreds to thousands of dollars per carat. Precious metals for settings, such as gold or platinum, will also vary significantly; gold can cost between $1,500 and $2,500 per ounce, while sterling silver may cost around $20 to $30 per ounce. It's crucial to decide early on whether you'll work with higher-end materials or more affordable alternatives.

Tools and Equipment

The cost of tools and equipment can add up quickly. A basic setup for a beginner might include pliers, cutters, and a workbench, costing around $100 to $300. However, if you decide to invest in professional-grade tools or specialized equipment like a soldering kit, casting machine, or 3D printer, you could be looking at an investment of $1,000 to $5,000 or more.

Workspace and Overhead

Where you choose to work can also influence your expenses. If you work from home, you can significantly reduce costs. However, if you opt for a dedicated studio, monthly rent can range from $300 to $1,500 depending on location and size. Additionally, utilities, insurance, and other overhead costs may add another $100 to $500 monthly.

Marketing and Sales Channels

Setting up an online store can be relatively cost-effective, with platforms like Etsy charging $0.20 per listing and a 5% transaction fee. Building your own ecommerce website may require an initial investment of $500 to $2,000 for design and setup, plus ongoing hosting fees of $10 to $50 per month. Participating in craft fairs or trade shows can also be beneficial, but registration fees can range from $50 to $500 per event.

Understanding these costs will help you plan and allocate your budget effectively, ensuring a smoother start to your jewelry making business.

Potential Costs of Starting a Jewelry Making Business

Starting a jewelry making business involves several potential costs, ranging from purchasing tools and materials to marketing and operational expenses. Here's a detailed breakdown of these costs:

Cost Category	Specific Cost Details	Estimated Cost Range
Tools & Equipment
Basic Hand Tools	Pliers, cutters, files, saw blades	$50 - $200
Specialized Tools	Rotary tools, engravers, metal stamps	$200 - $500
Workbench	Sturdy workbench with storage	$100 - $300
Soldering Equipment	Soldering iron, torch, flux, pickle solution	$150 - $500
Polishing Machine	Polisher, compounds, magnetic tumbler	$100 - $400
Casting Equipment	Furnace, molds, wax, investment powder	$500 - $1000
Safety Gear	Goggles, gloves, aprons, fume extractor	$50 - $200
Materials
Precious Metals	Gold, silver, platinum (based on market rates)	$500 - $5000+ per ounce
Gemstones	Diamonds, sapphires, rubies, emeralds (quality dependent)	$200 - $5000+ per carat
Beads & Findings	Clasps, jump rings, spacers, beads	$100 - $500
Operational Costs
Business Licensing	Local business license, industry-specific licenses	$50 - $500 per year
Insurance	Liability insurance, property insurance	$300 - $1200 per year
Studio Rent	Cost of renting workspace	$500 - $2,000 per month
Utilities	Electricity, water, internet	$100 - $300 per month
Marketing & Sales
Website Development	Domain name, web hosting, design	$100 - $500 annually
E-commerce Platform	Etsy, Shopify fees	$30 - $50 per month
Online Advertising	Social media ads, Google Ads	$100 - $500 per month
Packaging Materials	Boxes, pouches, inserts	$50 - $200
Labor Costs
Skilled Labor	Wages for additional jewelers (if any)	$15 - $40+ per hour
Administrative Staff	Bookkeeping, customer service	$12 - $25 per hour
Miscellaneous
Educational Resources	Workshops, online courses, books	$100 - $1,000
Memberships	Jewelry associations, guilds	$50 - $200 per year
Software	Design software, inventory management	$20 - $100 per month

This table highlights the diverse range of expenses involved in starting a jewelry making business, providing established and aspiring jewelers a clearer picture of the financial investment required.

Part of

Starting A Jewelry Making Business: Everything You Need To Know

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