Starting your online jewelry store

Starting your online jewelry store doesn’t require any diploma. You can set up as a reseller or decide to create your own jewelry lines. Either way, opening your e-commerce business requires meticulous preparation. You’re entering a thriving business, but you’re not the only one — you need to find your place among the competition. Here are the steps to follow.

Two options for starting your online jewelry store: craftsperson or merchant

The first question to ask yourself before starting your online jewelry store concerns the origin of the items you’ll sell. Do you want to set up as a reseller, or do you plan to design your own line and sell your own creations? In the first case, you’ll have merchant status; in the second, craftsperson status.

If you resell jewelry, you become an intermediary between the manufacturer and the customer. You then fall under the Centre de Formalités des Entreprises (CFE) of the Chamber of Commerce and Industry (CCI). You must register with the Trade and Companies Register (RCS).

If you sell your own creations, you’ll have craftsperson status. Your CFE is the Chamber of Trades and Crafts (CMA). You must register with the RCS and the Répertoire des Métiers (RM).

Becoming an art craftsperson

If you want to establish yourself as an art craftsperson, you must have been registered with the trades register for at least 3 years in the relevant craft — that is, in jewelry-making.

You can also qualify for this status if you hold a CAP, BEP, or an equivalent certified diploma.

Claiming art-craftsperson status is a commercial asset for your online store. It highlights your creations and lets you claim original, unique pieces.

Building jewelry expertise

You don’t need to be a gemology expert, especially if you’re a reseller, but anything you can learn about precious stones and metals will add credibility. To attract traffic to your website for free, it’s a good idea to start a blog. There, you can publish articles on topics related to jewelry-making, art crafts, precious stones, and so on. Mastering your subject is therefore essential, which is why you should train in jewelry-making and gemology.

Even if you decide to outsource article writing, you still need to design a relevant, consistent editorial line. You should also keep an eye on market trends and fashions to offer content that resonates.

Choosing your type of jewelry — and therefore your target audience

Your online jewelry store needs to position itself in a specific market. Depending on your products, you’ll target an audience whose tastes and budget you need to understand. This data shapes your editorial line as well as your communication strategy.

Think about the type of jewelry business you want to run:

• a general jewelry store offering all types of pieces: rings, necklaces, earrings, bracelets, watches, etc.;
• a jewelry store specialized in a specific category: birth jewelry, wedding bands, ethnic necklaces, etc.;
• a costume jewelry store offering trendy pieces;
• a luxury jewelry store with designer pieces made from precious stones and exceptional metals.

Conducting your market research

It’s unrealistic to launch without first carrying out serious market research. It helps you pinpoint your target audience precisely so you can find your place among the competition. Your offering must be consistent, providing jewelry that appeals to your target audience at prices that match their budget.

Knowing your target audience also shapes your website’s design and your communication strategy. You won’t address potential customers the same way depending on their age and social background. Likewise, when you launch an advertising campaign, you need to choose the right channels to reach your audience.

Writing a complete business plan

The business plan is an essential document for the success of your online jewelry store. It includes a written section describing your company and your team, if you’re not launching alone. You’ll include your market research, allowing you to revisit your target audience. This is the moment to formalize your idea by describing the jewelry lines you’ll offer and to prove you have a place among the competition.

All these elements help you decide on your company’s legal status. This choice is critical, as it determines your accounting obligations, how you and your business will be taxed, and your social protection.

The business plan includes financial tables that must be based on precise studies. You’ll need to prepare the:

• projected income statement;
• projected balance sheet;
• monthly projected cash flow budget;
• financing plan;
• investment plan;
• working capital requirement calculation;
• break-even point calculation.

The business plan helps you find investors. Whether you set up as a reseller or a craftsperson, you’ll start with an initial capital outlay that this document helps you assess precisely. Your pitch needs to be convincing enough for at least one banker to back your project. Your business plan will also help you convince other financiers if you need a substantial budget.

The business plan also describes your commercial strategy and your projected figures. It serves as your roadmap during your first years in business.

Managing your accounting

Whatever legal status you’ve chosen, you’re subject to accounting obligations. You must declare your business figures as well as your income. For budgetary reasons, it’s in your best interest to handle your own accounting. If your business later grows significantly, you can consider delegating to an accountant, but it’s not worthwhile when you’re just starting out.

There are online e-commerce accounting software tools that offer real comfort, with automation systems that simplify the task. By choosing invoicing software for online stores like Bizyness, you get a tool that’s easy to use and requires no accounting training.

Bizyness is suited to all legal statuses. It syncs with your e-commerce platform and your business bank account, letting you set it up to automate invoicing, export all documents required by the tax authorities including VAT returns, and more.

You can also extract specific data to check that your figures match the projected budget you included in your business plan.

Creating your online store

Creating your online store requires exemplary rigor. You can design your own site yourself using CMS platforms suited to online commerce: Shopify, WooCommerce, and so on.

Beyond an appealing design, your site must be fully secure and inspire trust. Selling jewelry online requires presenting your items well and pairing them with high-quality product pages. Shoppers have learned to be wary of unreliable stores selling jewelry that tarnishes as soon as it’s worn or breaks within days. Your product pages need to reassure customers about the quality of your items. It’s important to specify the materials they’re made of and guarantee a certain level of reliability.

CMS providers offer support and tutorials to help you design an attractive site. However, if you don’t have the time or don’t want to take on building your site yourself, you can delegate this task to a designer who will bring creativity that helps distinguish your site from your competitors’.

You still need to decide which social networks you’ll manage to build a connection with potential buyers. Facebook remains an essential network that lets you communicate through text, photos, and videos. Instagram works well for jewelry, as it lets you showcase your pieces. You can choose other networks, but only if you have the time to manage them properly. It’s better not to spread yourself thin across networks with outdated pages and uninteresting content.

Finally, you’ll need to put your advertising strategy in place to kick-start your online jewelry store.