Jewelry business plan with costing, pricing and where to sell
Handmade or designed jewelry often sells well at markets and then stalls online, usually because pricing does not leave room for wholesale or ads. This prompt has your todo.is agent study competing brands and channels, then write a plan with your collections, cost per piece, a pricing formula that works for retail and wholesale, and a forecast.
The prompt
- Write a business plan for my jewelry business, [BRAND NAME AND STYLE]. Materials and making: [MATERIALS AND HOW PIECES ARE MADE]. Where I want to sell: [SALES CHANNELS]. My starting point: [CURRENT SALES, EXPERIENCE AND BUDGET]. Research 8 similar jewelry brands with links: price points, materials, best sellers, and the marketplaces, shops and craft fairs near [CITY OR COUNTRY] that fit my style. Write: summary, brand and collections, target customers, competition, materials sourcing (including recycled metals or ethical stones if relevant), cost per piece, pricing formula for retail and wholesale, sales channels, photography and packaging, inventory and made-to-order, shipping, returns and care policy, marketing, risks, and financials. Build an Excel file with costing for my top 10 pieces (materials, labor time, packaging, fees), retail and wholesale prices, a 12-month sales forecast by channel and break-even. Mark assumptions. Send Word and Excel.
What to change
- [BRAND NAME AND STYLE]: E.g. "Tidemark, minimalist sterling silver and freshwater pearl jewelry".
- [MATERIALS AND HOW PIECES ARE MADE]: E.g. "hand-fabricated recycled sterling silver, some 14k gold-filled, made by me" or "designed by me, cast by a workshop".
- [SALES CHANNELS]: E.g. "my website, Etsy, craft fairs and 10 boutiques wholesale".
- [CURRENT SALES, EXPERIENCE AND BUDGET]: E.g. "selling $1,500 a month at markets, 3 years making, $8,000 to invest".
- [CITY OR COUNTRY]: Where you are, so your agent finds local fairs and boutiques, e.g. "Portland, Maine".
Example result
- Summary
- Tidemark makes minimalist jewelry in recycled sterling silver and freshwater pearls, handmade in a home studio in Portland, Maine. We sell about $1,500 a month at markets today. This plan grows sales through our own website, Etsy and 10 coastal boutiques over the next 12 months.
- Collections
- • Tide: stacking rings and thin bands, entry price point
- • Harbor: pearl drop earrings and pendants, best sellers at markets
- • Lighthouse: heavier statement pieces, small batches
- • Made to order: engraved and birthstone pieces, 2-week lead time
- Target customers
- • Women 25 to 45 buying for themselves or as gifts
- • Tourists and gift shoppers in coastal towns
- Costing example (illustrative)
- • Harbor pearl earrings: silver and findings $6.40, pearls $4.20, labor 25 min at $25/hour = $10.40, packaging $1.80, total cost $22.80
- • Wholesale at about 2x cost: $46
- • Retail at about 4x cost: $92 (checked against similar brands at $85 to $110)
- Pricing formula
- • (Materials + labor + packaging) x 2 = wholesale; wholesale x 2 = retail
- • Check that retail still covers marketplace fees and ads on direct sales
- • Raise prices when metal prices move more than 10%
- Sales channels (illustrative, month 12)
- • Website 35%, Etsy 25%, wholesale 25%, markets and fairs 15%
- Photography and packaging
- • Clean product shots on white plus lifestyle photos on the model; recycled boxes with a care card
- Policies
- • 30-day returns on unworn pieces; no returns on engraved items; free resizing within 60 days
- • Care card: remove before swimming, polishing cloth included
- Numbers (all illustrative assumptions)
- • Average order value: $78 online, $64 at markets
- • Month 12 sales: $6,800
- • Fixed costs: website, insurance, booth fees, photography
- • Break-even on new spending in month 6
- Risks
- • Copycats: distinctive designs, strong brand photos, fast new releases
- • Silver price rises: price review clause with boutiques
- • Holiday rush: build stock of best sellers by October
How to do it with todo.is
- Copy the prompt and fill in your brand, materials, channels and numbers.
- Paste it into todo.is on the Today screen or send it to your agent on WhatsApp or Telegram.
- Your agent studies similar brands and local outlets with links, then sends a Word plan and an Excel costing and forecast.
- Ask for changes like "add a gold vermeil line" or "plan for 25 boutiques".
Tips for a better result
- Pay yourself in the cost. If labor is left out, you cannot afford wholesale later.
- Check that retail is at least double wholesale before you pitch boutiques, or they will not stock you.
- Photos sell jewelry online. Budget for good product and on-model shots from the start.
- Ask your agent for a weekly silver and gold price check sent on WhatsApp, so you know when to reprice.
jewelry business plan: FAQ
- How do I price handmade jewelry? A common method is materials plus labor plus packaging times 2 for wholesale, then times 2 again for retail. Then check the price against similar brands.
- Where is the best place to sell jewelry? Many small brands mix their own website, a marketplace like Etsy, craft fairs and boutique wholesale. The plan compares channels for your style and price point.
- Do I need a license to sell jewelry? You usually need a business registration and to collect sales tax where required. Some metals and stones have labeling rules, so check local rules for terms like gold-filled or sterling.
- Can it write product descriptions too? Yes. After the plan, ask for Etsy or website descriptions for each piece and your agent writes them from your materials and style.
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