Online Jewelry Store

How Profitable Is An Online Jewelry Store? (Updated for 2024)

Pat Walls

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Updated: September 3rd, 2024

How Profitable Is An Online Jewelry Store? (Updated for 2024)

So you want to start an online jewelry store?

And the first question that came to your mind was, “well, are online jewelry stores actually profitable?”

Especially considering:

You could start a online jewelry store with as low as $2,000
Based on our data, online jewelry stores generate an average of $1.98M per year

There’s money to be made. Don’t worry.

But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a online jewelry store.

Let’s dive in!

Is an online jewelry store profitable?

Yes, an online jewelry store is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.

For instance, since average revenue is $1.98M per year with an estimated gross margin of 21%, you could expect to recover your investment within 10 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your online jewelry store.

To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.

Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your online jewelry store is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is an online jewelry store worth it?

If you’re wondering if a online jewelry store is worth it, the answer is a big YES. With online jewelry stores, you have the potential to earn $1.98M per year (this is based on data reported by real founders).

Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.

With a market size of $, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.

Of course, you must learn and understand every aspect of running a online jewelry store to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.

You might want to consider reading more specifics about successful online jewelry stores case studies.

Examples Of Profitable Online Jewelry Stores

Here are a few examples of profitable online jewelry stores, and a few more details about them:

1. Moonglow Jewelry ($6M/year)

Julien Plouffe, the risk-taking entrepreneur behind Moonglow Jewelry, came up with the idea after experiencing success selling the jewelry featuring phases of the moon at a fair in Springfield, MA. Recognizing the potential for growth, he decided to scale the business by working with boutiques and stores, leading to exponential revenue growth from $200,000 to a projected $7,000,000 this year.

Is it profitable? Yes
How much money it makes: $6M/year

Growing An Online Jewelry Store To $6M/Year

Moonglow Jewelry experienced tremendous growth to achieve an anticipated revenue of $7 million this year after starting off with $200,000; they credit it mainly to their focus on marketing and reinvesting early profits into improving their brand.

Read this case study

Read by 7,437 founders

2. Desires by Mikolay ($3.44M/year)

Tara Mikolay, co-founder of Desires by Mikolay, came up with the idea to open a designer jewelry showroom when her husband, a classically trained bench jeweler, expressed his dream to start his own business. With Tara's support, they self-funded the venture and worked tirelessly to build the business from the ground up. Today, Desires by Mikolay is thriving and known as one of Westchester County's premier jewelers and design shops, with a brick and mortar store and a successful online presence.

Is it profitable? Yes
How much money it makes: $3.44M/year

Starting and Growing a Jewelry Store as a Married Couple

Desires by Mikolay, a luxury jewelry brand offering a quality selection of custom design and fine jewelry, tripled its brick and mortar since starting in 2005 and now receives orders from all over the US online, after building an authentic brand with passionate owners.

Read this case study

Read by 4,890 founders

3. Bang-Up Betty ($84K/year)

Stacey, the founder of Bang-Up Betty, initially started making jewelry as a hobby, creating funny and bold pieces with curse words and silly phrases. She quickly learned that staying true to herself and her designs was more important than trying to please everyone. With average monthly revenue of $6,000 and features in sites like Buzzfeed and Huffington Post, Bang-Up Betty has grown into a successful business known for its feminist and progressive tendencies.

Is it profitable? Yes
How much money it makes: $84K/year

Growing A Handmade Jewelry Hobby Into A Successful Business

How Stacey turned her handmade jewelry hobby into a business that generates an average revenue of $6,000 per month, with a focus on staying true to your designs and customers, and the importance of organic marketing through social media and SEO.

Read this case study

Read by 11,401 founders

Learn more about starting an online jewelry store:

Where to start?

-> How much does it cost to start an online jewelry store?
-> Pros and cons of an online jewelry store

Need inspiration?

-> Other online jewelry store success stories
-> Marketing ideas for an online jewelry store
-> Online jewelry store slogans
-> Online jewelry store names

Other resources

-> Online jewelry store tips
-> Blog post ideas for an online jewelry store

How much can you make with an online jewelry store?

With a online jewelry store, you can make an average of $1.98M revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $2,000. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 10 months.

How much does a online jewelry store make a week?

Based on our data, average weekly revenue for a online jewelry store ranges around $41.3K. As such, you could see monthly revenues of $165K.

To know if your online jewelry store achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.

Learning your weekly profit can also show whether you're hitting your target goal for your online jewelry store.

How much do online jewelry stores owners make?

The income of an online jewelry store owner can vary depending on various factors such as location, size, competition, and the owner's business skills.

But to give you some idea, the weekly revenue of an established online jewelry store is about $41.3K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.

While the potential for earning a good income as an online jewelry store owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Online Jewelry Store Profit Margins

Generally speaking, an online jewelry store can expect profit margin of around 21%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of an online jewelry store, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.

However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, online jewelry store owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, online jewelry store owners can ensure long-term sustainability and profitability for their business.

Online jewelry store owner salary

The salary of an online jewelry store owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established online jewelry store, in a prime position, might see an average weekly salary around the ballpark of $8.68K.

But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.

Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.

Conclusion

In a nutshell, based on many of our examples, a online jewelry store may be a promising business to start - but the success of your online jewelry store mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable online jewelry store.

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Starting An Online Jewelry Store: Everything You Need To Know

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