If you are wondering how to start a jewelry cleaning business, you have come to the right place. Just like a car or a house, jewelry gets dirty and doesn’t shine like it used to. Soap, water, dust, and other gunk distracts from the original sparkle and polished look of the jewelry. This creates a problem and a problem creates a business opportunity. In this article, I will give you a step-by-step guide on how to start a jewelry cleaning business from scratch.
1. Drafting A Business Plan
A business plan is a key document while starting out any business venture. A jewelry cleaning business plan should include your business information, competitor analysis, marketing strategies, and financial projections. A business plan is not a fixed document and it’s never too late to create a business plan. Write a business plan when starting out and update it each year with new projections and ambitions. If you need any help writing a business plan, SBA provides an excellent resource for writing a business plan for small businesses.
2. Setting Up A Jewelry Cleaning Business
Prior to starting a jewelry cleaning business, you need to make sure you follow all the regulations and set up your business the right way. The first task while setting up your jewelry business is registering it as a legal entity.
There are many business structures available for you to register your business in. However, while starting out, I would highly recommend going with an LLC structure. It is one of the simplest forms of business structure that also gives you a blanket of protection from bankruptcy or any business lawsuits. Keep in mind, this protection is not full proof like of an S-corp or C-corp but it is significantly better than that of Sole Proprietorship.
After your jewelry cleaning business is registered, the next step is getting an EIN. EIN stands for Employee Identification Number and this number is needed in every phase of business operation from hiring an employee to opening a business bank account. Fortunately, it is really easy and free to get an EIN through the IRS website.
3. Costs To Start A Jewelry Cleaning Business
Realistically speaking, starting a jewelry cleaning business doesn’t require high capital. The startup cost can range anywhere from $100 to $10,000. All you need while starting out is a jewelry cleaning liquid, jewelry care cloth, and business cards in your pocket.
If you want to operate your jewelry cleaning business through a physical store then the startup cost is going to be a bit high. However, I suggest starting out completely online through a website and social media platforms. And move to a physical store once you have the customers rolling.
4. Creating A Digital Presence
An online presence basically consists of all social media platforms and a brand that you establish on the internet (e.g. via a website, blog, or social media). These platforms are used to help you bring your business to market and make it more accessible to customers over the Internet.
Even if your small business is not a web or e-commerce business like a coffee shop or beauty salon, you still need a website as your primary vehicle to establish your online presence. The first step your company can take to grow its online presence is to create an official business website. While these steps may seem like a huge investment of time and resources, building an online presence for your small business is relatively inexpensive and easy to get started.
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5. Marketing Your Jewelry Cleaning Business
In order to start a successful jewelry cleaning business, you must have a clear picture of the marketing strategy. Marketing your jewelry cleaning business will need both digital and traditional approaches.
Digital marketing will include two channels – organic and paid. Organic marketing is a form of content marketing, where you write blogs on jewelry cleaning and practice SEO on your website to get organic traffic. This is completely free, however, it takes time. Another channel is paid marketing. This includes paid social media Ads. They will give your business a boost instantly but are not sustainable for the long run. Therefore, you should use a mixture of both paid and organic digital marketing for your business.
Many people overlook traditional marketing approaches. Even though digital marketing has taken over the marketing landscape, traditional marketing is still one of the most reliable forms of marketing. For a service-oriented business like jewelry cleaning, visiting jewelry stores, and handing out your business cards is the best way to market your service. Furthermore, you can visit jewelry fairs and conferences to offer your services to prospective clients.
All in all, try to mix up both digital and traditional marketing for your business. Once you find your clients through these marketing channels, make sure you offer top-notch service for them. This way whenever they need jewelry to be cleaned, they will remember your business. I would also suggest you focus more on jewelry stores as they regularly need to clean their display jewelry, professionally.