another reply – Recouping equipment investment (?)

Here’s the original question posted on a forum in which I’m a participant:

“Can anyone give me some general basic financial/sales experience as to how
long or what product to make and begin to recoup my investment? As a beginner,
my work is not complicated yet. And to earn some back, not time consuming. I
have approx $600 rough estimate invested thus far.”

My reply:

I don’t think anyone can answer this question for you. There are just too many variables to factor into the equation. You’re not buying bottled waters at Costco and reselling them at a street fair on a hot day.

If you’re making jewelry because you love it and can afford to lose lots of money…go for it. If you’re making jewelry to make money…stop right now.  sorry, but you’re better off at a $600 loss than going forward.

Unless you’re that one in a million with the right product, in the right market at the right time, you are not going to make money selling jewelry. Equipment, education, materials, selling/marketing and time – so much more than you can imagine – will eat right through your bank account and the hours in your day.

I know (3D and online) loads of people who make jewelry – extremely talented with mad technical skills people who are struggling in this economy – supplementing incomes with teaching, selling tools/kits, DVDs, etc… working at Costco or as a mover (sad but true).

That being said….Is your work ready to sell? Where and how are you going to sell your work? Is your local economy sagging or robust? Selling online…Etsy has over 1 million pieces of jewelry listed, what’s your plan for getting noticed? Website…how are you going to get traffic to your site (not to mention buy and build the site)? The question comes down to how hard are you willing to work at making and selling jewelry?

Selling your own handmade jewelry is not for the faint hearted, it takes a remarkable amount of time and effort and requires an extremely thick skin.

I would love to read how others would have answered this question.

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~ by khmetalwork on September 7, 2010.

One Response to “another reply – Recouping equipment investment (?)”

  1. I thought you answered the person’s question perfectly!

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