Right now the permanent jewelry industry is booming with attention. The industry is becoming increasingly popular as people look for original and meaningful jewelry to wear everyday. In response to this attention, entrepreneurs are realizing that they can start their own permanent jewelry business without even opening a storefront. It seems too good to be true, I know. There is no MLM here where a percentage of your profits goes to another person. Your business is yours alone, with your own branding and full autonomy.
One of the most frequently asked questions in my DM's is about the return on investment (ROI) for a permanent jewelry business. When starting a business, I understand that it's one of the most important factors to consider. By asking that question, you are starting off the right way. You need to weigh all the pros & cons of launching your own permanent jewelry business, including the potential profits & expenses. I will say that I have owned a jewelry business for 7+ years and I have been an entrepreneur for 10+ years, and I have never seen a return on investment like permanent jewelry.
What makes the ROI so high in the permanent jewelry industry? The ROI is impressive due to multiple factors but one of the main factors is the long-lasting value of permanent jewelry. People tend to purchase permanent jewelry as an investment, expecting it to last a long time. This makes them more likely to pay higher prices for higher quality products, thus providing a greater return on investment. It is important to note that you do not need to buy solid gold for your business in order to have a high-quality product. The durability, price point and tarnish resistance of 14k gold-filled & .925 sterling silver products make them ideal for permanent jewelry.
Another important factor is that a permanent jewelry business doesn't require storefronts or large overhead costs until you want to add them. In the first six months of adding permanent jewelry to my existing jewelry business, there was no storefront. We still regularly had net profits over $1000. There have been some insane days and, of course, we have had a handful of slow days. As my permanent jewelry business grew and I wanted to scale it, I opened my first storefront and am about to open my second. Since making that decision, I have added way more overhead expenses like employees, rent, multiple welders, etc but my business is also making more money. However, you don't have to scale if you enjoy pop-ups & private parties. Your business can be whatever you want it to be which is the biggest positive to owning your own permanent jewelry business.
All in all, starting a permanent jewelry business can be a very rewarding opportunity personally & financially. However, it's important to remember that starting any business still requires hard work and dedication. If you want to start your own permanent jewelry business I suggest creating a business plan and researching the industry fully before jumping in.
If you want more help, I do offer an online permanent jewelry class where I can take you from overwhelmed and confused to excited and confident about launching and building your own business. If you want to learn more, email me at email@example.com or click here to learn more.