How To Create a Profitable Body Jewelry Business by Buying in Wholesale
Following growing interest during the pandemic, the jewelry market is bigger than ever. This means there's never been a better time to start a wholesale jewelry business.
The industry is now valued at $298 billion (2023) and is expected to grow at a compound rate of 3.68% a year until 2026 and beyond. Interestingly, 88% of revenue now flows from non-luxury jewelry.
This means savvy entrepreneurs and business-minded people can seize this opportunity by selling affordable wholesale body jewelry to different markets.
Below, we'll explain exactly how to make money selling wholesale body jewelry with some tips on how to get started.
How to build a profitable wholesale jewelry business
1. Do your research
A good place to start a body jewelry business is to research the latest trends and what’s currently popular.
Fashion magazines, websites, and outlets such as Vogue and Cosmopolitan may occasionally feature articles regarding body jewelry. Being in touch with what’s popular on the catwalk can help you stay ahead of trends and stock up on what’s likely to be popular.
For example. septum rings are now becoming increasingly popular due to influencers like Gigi Hadid sporting the piercing at some big events.
You can also head to some online communities, such as Reddit, and look through popular posts within the last few months. While most body jewelry options are timeless, this will give you an indication of any resurging trends.
2. Find your niche
Once you feel you are in touch with body jewelry trends, you should try and identify a niche.
While you may eventually want to try and capture as wide an audience as possible with your body jewelry business, focusing initially on a niche market allows you to stand out and identify your target audience.
For example, you may want to focus exclusively on jewelry for a specific body part. Concentrating on selling a specific product, such as naval jewelry, means you can really study your niche and get to know your market.
You may also want to choose a specific body jewelry material and focus on a wider range of products. Selling exclusively solid gold body jewelry, for example, can help you stand apart from the competition and build a reputation.
With enough effort and planning, your expertise in your chosen niche will become known, especially if you become active in online communities, run a blog, and sell at events.
3. Choose your business model
Before continuing, you’ll need to decide on your business model.
A lot of new body jewelry startups choose to focus on e-commerce. Selling online can cut out a lot of expenses, including rent for premises and utility bills. It can also mean reaching a wider audience, with the ability to sell internationally.
Others choose to sell locally in person. This can have its benefits too as you can often charge a higher price and offer additional services such as piercing and even tattooing.
Whether you choose e-commerce, brick, and mortar, or a mixture of the two, it’s important to have a sound business plan and keep accurate records.
4. Use a reliable wholesaler
Once you’ve discovered your perfect niche, it’s time to find a supplier.
To make your business as profitable as possible, wholesale body jewelry is the best option. Wholesale body jewelry suppliers sell pieces at low prices in bulk. This means you can then sell these individually for a profit.
Using Google, look for wholesalers that have:
- Large selection of products
- Quality materials
- Good customer support
- Fast shipping
- Discounts for larger orders
- Multiple payment options
For those in the US, Shining Light Body Jewelry ticks all the boxes and is considered by many to be the best body jewelry wholesale supplier.
5. Price appropriately
It’s important to price your products appropriately to drive sales. Wholesale body jewelry is priced low enough for profit to be made by resellers, but be careful not to overprice goods
If your body jewelry prices are too high or your competition is selling similar products for considerably less, you will find sales will be slow. Conversely, undercutting your competition severely to win sales at the expense of profit can lead to financial ruin.
Take stock of your competition’s pricing and consider whether your offerings are worth more, less, or about the same.
6. Market effectively
A business nobody knows about will not work. Even if you have the best body jewelry pieces on the market, sourced from the best wholesale suppliers, at the best prices, unless people find your products, your sales will be nonexistent.
This will mean getting to grips with social media and online advertising. Open social media accounts on all the major platforms, including Instagram, Twitter, TikTok, and Facebook. Engage with people, post regularly, and produce interesting content.
Advertising your body jewelry business will involve pay-per-click ads. You can run these campaigns using Google, Instagram, and Facebook. You will want to research your niche market’s search habits and target your ads for these keywords and phrases.
Advertising locally can also work. Consider using local newspapers, display boards, local Facebook groups, and more.
Shining Light can help you start your body jewelry business today
Whatever stage you’re at, Shining Light can help you stock up on the very highest quality body jewelry. With an extensive collection of body jewelry products in a range of materials, you can start appealing to your niche today.