The New York Institute of Art and Design offers an online jewelry design course and because we do, we like to provide free tips for aspiring designers. Enjoy!
As aspiring jewelry designers, it’s important to understand the financial ethics of any business interaction you may choose to partake in as you expand professionally. If you chose to partner with a local boutique or retailer, an understanding of commissions is a crucial place to start.
If you decide to forge a partnership with a local jewelry and accessory store, you need to realize that the owner expects to make his or her own profit. For example, if they buy a pair of your handmade earrings for , they will likely sell them internally for or . Although to many designers this seems unfair, it’s important not to underestimate the value of exposure gained through a partnership with a trusted local name. Even if your profit margin may be comparatively smaller than your buyer in some cases, try not to undervalue the additional benefit of said publicity.
If you chose an online sales route such as Etsy, the site you work with will also likely take a commission from you, but typically something much smaller than what you’d pay to a retail outlet. Regardless, it’s continually important to factor in the value both online and brick-and-mortar partners can offer you outside of financial gain- advertising and exposure are equally as crucial and will likely monetize in the long run anyway.
Want to learn more? The New York Institute of Art and Design offers an online jewelry design course that can teach you how to create and sell your own unique line of jewelry. Request your free course catalog today!