How To Start A Jewelry Business (Real Gold And Diamonds) - The Ultimate Guide (Ben Baller, Icebox)

what's up everyone this video is going to be a complete step-by-step guide and have to start a real jewelry business you will learn how to is made from start to finish we will talk about what is the correct way to start this business and also we're gonna talk about some of the mistakes so warning before we begin I want to talk about some of the misconceptions about this business the first misconception is that you need to go to jewelry school and get a special education this couldn't be further from the truth you don't need any of that you will learn everything you need to know in this video you also don't need any business licenses or permits you just need a little bit of cash second this is a very easy business to get into don't get intimidated because you're dealing with real gold and diamonds third you do not need to have any of your own gold or diamonds all of this is purchased in the jewelry district you can start with as little as a few hundred dollars the jewelry business is a very safe business probably one of the safest businesses to get into because if you make a piece of jewelry and doesn't sell you can always melt the gold and take diamonds out and make another piece labor for jewelry is extremely cheap so your loss of the minimum the markup on jewelry is always at least 100 to 500 percent so you can make a lot of money in this business this is also a very simple business learn people in the jewelry this should make a jewelry for you you can go downtown and make your first piece of jewelry today alright guys so let's begin the first thing you need to do is find the Jewelry District in your city every major city in America has a Jewelry District this is a part of the city that takes up several blocks and has a bunch of jewelry stores and small privately owned jewelry manufacturers let's go in to Google type in jewelry district and then name your city and right here you will see the address of your local jeweler edition just so you guys know that LA and New York have some of the largest jewelry districts in the US the next step is to actually go down to the district when you get there you will see a bunch of large buildings on top be the factories where all the jewelry is manufactured and on the bottom will be the retail stores or the jewelry sold there are six steps in making jewelry you will go to a different factory for each that the first step is designing the jewelry in a special 3d program the second step is to print the 3d wax for the special 3d printer the third step is to take your printed 3d wax and turn it into gold this is called casting the fourth step is to file in sand and polish down the casted piece the fifth step is setting diamonds into the piece and the sixth and final step is to do the final polishing and finishing of the piece let's talk about gold pure gold or 24 karat gold is 999.9 gold and it's always yellow in color the problem of 24 karat gold is that it is too soft to make jewelry with so gold is mixed with other alloys such as silver and copper to make jewelry the higher the karat the higher the amount of gold is in the piece the most common types of carrots are 10 karat 14 karat and 18 karat gold anything under 10 carats is legally not considered gold in the US the more gold that is in the piece the richer the color 10 karat gold has 41.7% gold 14 karat gold has 58.3% gold 18 karat has 75% gold gold jewelry is made in three colors white gold yellow gold and rose gold mixing more platinum silver palladium with pure gold will make it look white adding more copper will make it look pink or rose white build will have to be rhodium plated because when casted it will not look bright white we will talk more about this later once these metals are melted together they cannot be separated gold jewellery can be tested to verify the amount of pure gold or gold karat several different ways the cheapest way to test gold is to buy an acid kit on the website like eBay this kit will have a scratch pad and the bottom will liquid for every karats you will scratch a piece of jewelry on the scratch pad and pour a small amount of liquid from the bottle of care you're testing for if some of the gold starts dissolving then the amount of karat is less than what you're testing for if no part of the line starts dissolving then it has that carat or more so for example if you make a piece of 14-karat gold jewelry and you want to verify that it is 14 karats you will scratch it on the pad and take the 14-karat gold bottle and pour some over the scratch line if it dissolves it's less than 14 karats if it doesn't it's more the more dissolves the significantly less the karat after you're done testing you can simply polish the piece of jewelry that was scratched to make it look new another way to tell jewelry is to buy an electric pen test kit and the best way to tell jewelry is with a gold gun these cost around $15,000 and will tell you the exact amount of gold and other alloys in your piece the good news is you don't have to buy this people in the jewelry this should have these and you could test your jewelry for around five to twenty dollars depending on the size always make sure to scan your jewelry especially for making heavy is carat markings mean nothing it can easily be faked gold prices change daily the number one website to check gold prices is called KITT cocom on this website you will find the spot price which is the price of one ounce of pure 24-karat gold alright guys we're gonna go on a website called KITT cocom right here you will find the current gold price right here on the left gold prices fluctuate just like stocks now like I said earlier you guys will never need to buy any kind of physical gold all the gold will be purchased in the Jewelry District but if you do want to buy gold for investment purposes you can buy it on this website just know there's a premium if you do want to buy gold bars or coins let's talk about diamonds diamonds are mined in countries such as Africa and Russia they are then sent to different countries such as India and Israel in their current and different shades by special machines most diamonds are then purchased by parcels by the diamond dealers in the jewelry district the diamonds then sold to the jewelers in the district who make peace and sell it in their retail stores diamonds that have now been set in metal are called loose diamonds when the jeweler needs to make a piece of jewelry you will find out how many loose diamonds he needs what quality what size of what quantity and then he will buy it from the diamond dealer and make the piece let's talk about the four C's the four C's are the most important things when it comes to diamonds the four C's are the color of the stone the clarity of the stone the cut of the stone and the carat of the stone now diamond carat and gold carat are two completely different things diamond carat is the weight and gold carat is the gold purity the GI a is the chamalla gist Institute of America they graden certified diamonds this is usually done only with bigger stones which we won't talk about in this video we will only talk about small stones grading small stones is pointless because grading will cost more than the actual stone is worth let's talk about Diamond color diamonds have different colors and their greatest starting from the letter D D means there's no color if there's no color the stone is worth a lot more the more yellow stone is - let's worth you should always try to buy stones that are at least D to H color let's talk about clarity diamonds have imperfections such as cloudiness scratches and pieces of black carbon these are called inclusions the less inclusions the better the stone this is the clarity grading chart for diamonds it starts from flawless then goes to internally flawless then VBS which stands for very slightly included then vs which stands for very slightly included then si which means slightly included then I which means the stone has inclusions inclusions can be seen with a loop which is basically a small magnifying glass for jewelry you will see a lot of jewelers walking around with these the more diamonds you guys see the more you'll be able to tell the difference diamonds try to at least stick with Si quality diamonds basically everything that's si are better or considered good quality diamonds try to stay away from eye diamonds stones can have different cuts the way a stone is cut can make it shine more or less stones can be kind of many different shapes the most common is round brilliant and carat is simply the weight of the diamonds let's talk about the point system and how diamonds are op referred to as pointers for example a 3 millimeter stone is called a ten-pointer because it weighs 1/10 of a carat 10 of these will equal to one carat a two millimeter stone is referred to as a three pointer because around thirty three of these will make one carat also keep in mind that different stone shapes will make different weights so two millimeter princess cut stone will be much different way than a two millimeter round brilliant stone stones don't have to be purchased in carats you can go to a dealer and purchase one two millimeter stone if that's all you need for your jewelry piece so for example if one carat of vs diamonds cost $400 and you need to buy three two millimeter stones you will be paying around $40 it's very important that you guys find a dealer that only sells clean diamonds which are not blood diamonds you should always take your time to find a dealer in the district who will give you fair prices some diamond dealers might try to take advantage of you if they see that you new to this here the proxxon prices you actually paying per carat VVS $600 vs $400 vs si $350 SI 300 $320 also the bigger the stone the more you will be paying per carat so for example if you're buying one carat of 3-pointers vs diamonds you will pay around 400 per carat but if you're buying ten ten pointers of vs diamonds you will be paying around $600 diamond prices do fluctuate but not on a daily basis like gold when you go to the diamond dealer you will see a few things the first one is engaged this is a tool that is used to measure the millimeters and diamonds you will also see diamond testers the way a diamond tester works is you touch the tip of the diamond and if the light turns green it's a real diamond if it turns red it's not real the diamond tester cannot tell clarity or color it's simply the text carbon you will also see a carat scale this is a very precise scale that will tell you the exact amount of carats you will also see them and dealers take their Parcells and pour it into this tool right here which will filter out the exact millimeters of the stones you need let's talk about color diamonds there are natural color diamonds such as yellow diamonds and pink diamonds which can be more expensive but also there's something called treated diamonds a lot of stones are treated to make them different colors such as yellow con yak and blue this is very common in the hip-hop jewelry basically what they do is they take diamonds that are not worth a lot which are white diamonds but are yellow in color which are bad quality and they heat treat them to make them different colors this is called HP HT treating these diamonds are much much cheaper and they're worth a lot less they have very small resale value also a lot of bad quality diamonds are clarity-enhanced to make them look better so be careful never buy these diamond dealers are middlemen when you become big in the jewelry business you can start building relationships with real diamond wholesalers such as those in India and Israel there are a few ways to do this the first way is to go on a website called Alibaba calm let's go on Alibaba calm we're inside the natural news diamonds you guys want to stay away from lab diamonds those are not real diamonds hit search and right here you will see a bunch of liars you guys don't pay attention to the care price you will have to contact the supplier to get the real prices right here will show which country the supplier is in and how long he's been in business never paid through Western Union or wire transfers you can place a small order first before those larger orders always pay through PayPal and the second way is by going to the jck convention this is a once in the year jewelry convention what held in Las Vegas you can establish relationships with diamond dealers here and buy diamonds for a lot less to get into this convention you will need to manufacture receipts so for example when you get a piece casted save the receipts and then show it to the jck to get admitted let's talk about the first step in making jewelry this is 3d designing jewelry is designed and one of the two major jewelry designing programs matrix and Rhino 3d rhino3d in my opinion is easier and better if this is something you guys want to learn to do yourself you can download the program for free you guys can learn to design yourself and this is something you're passionate about but I don't suggest you do this jewelers outsource all of the design work you guys can find 3d designers in the jewelry district however I don't recommend you do this because you can easily find 3d designers on websites such as fiber comm and CG trader let's go on my favorite side which is CG trader calm alright guys this is CG trader.com on this website you can download a bunch of 3d models they have tons of jewelry files here so let's type in diamond ring let's type in men's diamond ring and you can see right here a bunch of stop pops up you guys can also click on free to get three files well let's see what they have here let's check out this ring right here and these right here are 3d renders the software designing program can render the piece to show you how it's going to look like when it's finished there are different angles right here this the price so to download this file you would have to pay $50 this is the name of the designer if you guys want custom wear I'm done you can click the hire me button right here or you see this person he puts up his vibrant is what's app and you could contact him through here also you will see right here how many diamonds this piece has and the total carat weight lets happen Cupid ring let's click on this one right here and so if you guys download this one time you can resize it in rhino3d and make your own size you don't have to download you don't have to purchase every single ring size individually you could purchase it one time and resize it yourself you can see right here the approximate way so if it's Kassadin 14 carat golden turn away aprox in the 18 point 20 grams let's check out this ring right here you scroll down you will see exactly how many stones you need it's 270 stones and right here you will see the approximate weight so 14 care will be around 25 grams we cost design a piece depends on how detailed the pieces and how large the pieces but usually expect to pay around 25 dollars the ones the designers finished making your file he will send you a STL or a 3d M file and the file will be ready to print one of the most important parts of starting an jewelry business is building your portfolio of 3d files the more products you have for sale the more money you can make really quick I want to tell you guys how jewelry was made back in the day back in the 90s and before that before there were three designing programs they would take a block of wax and cut jewelry from it the piece will then be casted and the rubber mold will be made so instead of remaking the entire piece from scratch the jeweler would simply inject wax into the rubber mold and then make as many waxes as he needs so basically jewelers would have a portfolio of rubber molds rubber molds are still used today to make backups of things such as chain links it would be too expensive to print each individual link by itself you can go to any bench jeweler and he will make a rubber mold for you for around 15 dollars also just know that rubber molds to shrink by around 5% the next step is to find a 3d printer in the Jewelry District you will send us a picture with 3d file telling the size of it arrange a price and next you will email the 3d em or STL file and get the wax printed the 3d printer will then print your 3d wax file the cost to print a 3d file depends on the size and time it takes to print the file for how much detail the file has but usually a regular array will cost around 15 dollars the more 3d files you print the more with discount you can get the file will then be printed by a special jewelry 3d resin printer in the very fine resolution these printers cost around $30,000 these printers are much more precise than regular 3d printers if you want to print your own 3d waxes and your pieces don't have too much detail you can buy a regular resin 3d prints on Amazon for around $300 the wax will usually be printed the next business day and you will go pick it up from the 3d printer you will pay upon pick up when you pick up the wax be very careful because it will be extremely fragile inspected for any defects before paying the next step is to take this 3d wax and turn it into gold this is called casting the process of casting is very simple you will bring your wax at a casting factory you will tell the caster what color gold you want to cast in and what karat caster will then put your wax along with other wax from other jewelers on the casting tree you don't need to give the cast of your own gold the process of casting is very simple the caster will use a special powder and mix it with the casting liquid he will then put the wax into this liquid after that he will put the liquid in a special machine to take the air out then this liquid will be cooked until it assurance solid the waxer will then pour gold into the cement and the gold will place the wax the cement will then be cooled off cracked and the gold will be taken out the caster will then cut each customer's piece from the tree and give the piece to the customer you will then come back to the caster in a few days and pick up your piece the first thing you will do is inspect your classic piece running defects or porosity porosity is little holes or defects that cannot be polished off if you see any porosity you will show the caster and he will use a special laser machine to fix it free of charge the most important rule when it comes to casting is the dollar fifty program rule you will pay the caster dollar fifty program plus the gold price for each gram for that day use this website to get the daily price of gold per gram per carat all right guys let's go on the website called gold calc calm right here we'll type in one gram we're going to select the gold purity of the select MKS in today's price is 1600 we will click calculate gold scrap value and this is the price program so for 10 karat the price program is 21:43 so it's a constant we'll add 150 which is going to be 20 to 93 program let's go back let's do one gram 18 carat gold the price of 18 karat gold is 38 58 so if you're gonna be casting 18 karat gold you'll be paying 40 dollars and eight cents per gram so if you make a 14-karat piece which weighs around 10 grams and the gold price of 14 karat gold is $30 per gram you will be paying the cast around 300 $15 you will give the caster cash he will give you the gold piece I'll receive and you're done you never pay tax for casting jewelry so be careful some casters might take advantage of you if you're doing heavy pieces always scan your jewelry right after casting really quick if you guys are gonna be casting jewelry that is two-toned for example it will have white gold and yellow gold you will have to cast each piece separately and then weld them together or solder them together also some pieces will have galleries these will also be welded together this right here is a gallery the back seat through cage piece and this is called the bail back steps cleaning filing sanding down and polishing your piece after you pick up your piece it will not be shiny at all it will not look like jewelry you need to find a bench jeweler in the Jewelry District who will make your piece look like real jewelry the price to clean your jewelry will depend on how big and detail the jewelry piece is but expect to pay around twenty to twenty-five dollars be sure to try out several different bench jewelers because they all will have their own style of polishing jewelry and some will do a better job than others cleaning the piece will usually take about a day depending on how busy the bench jeweler is after your pieces done being polished inspect it and then pay also just so you guys know when your jewelry is being polished you will lose a little bit of gold usually around two to five percent the next step is setting diamonds into your piece there are many diamond centers all over the Jewelry District you will take your piece so Center and he will inspect the piece and tell you exactly how many stones the piece needs if you bring in the piece and the diamond Center has to drill holes and put small prongs into your piece of gold jewelry you will be paying 150 per stone if you bring the center casted piece that already has holes and prongs you will be paying one dollar per stone prongs are for little pieces of metal that hold the diamond in place if you want to set stones in the piece that doesn't have holes and prongs you will tell the setter what size stones you want to put if the piece of jewelry already has holes and prongs the process of setting stones is very simple the diamond Center will simply put the stones in and close the problems if the piece of jewelry doesn't have pre-made holes and prongs the diamond Center will mark thus for each stone use a special drill for that stone size and then make the holes and prongs the Center will then smooth out the prongs in small little circles the diamond Center will heat up a special piece of wax place your jewelry into it and then start setting stones when he is finished he will get melt the wax and take your jewelry out he will then clean your piece of jewelry and give it to you let's talk about some of the most popular diamond settings pave is when you have a bunch of round stone set close to each other micro pave is the same thing with small stones channel-set is when the stolen took place between two rolls of gold an invisible set is when princess cut stones are placed right next to each other without any visible gold the center will cut small lines into each stone which will hold each other you should try to give the diamond Center a premade piece with holes and prongs because this will save you a lot of money and will look cleaner if you want to remove diamonds from a piece it will cost around the dollar 50 cents per stone after you're finished setting stones you will take your piece of jewelry back to the bench jeweler for a finishing polish when this polishing is done the piece will shine and look like a real piece of jewellery this polishing is free you will not paint the bench jeweler again also you can tell the publisher what kind of finishing you want there are many different ways to polish jewelry if you are making white gold you will have to get your piece rhodium plated white plating cost around $5 plating will wear off over time so the piece might need to be replayed it you can play jewelry in many different colors such as white rose gold and black if only certain parts of your jewelry needs to be plated the jeweler will do this with a special plating pen the entire piece needs to be plated he will dip it into rhodium you can also do PVC plating on jewelry if you want a very black look this is very common on jewelry that has black diamonds and sometimes rolex watches you can also find laser engravers in the Jewelry District if you want to do things such as add company logos pictures or care to your piece of jewelry the carat marking can also be made on the 3d file or the cast you can stamp one on it this cost around $20 alright guys let's make our first piece of jewellery we are going to make a 14 karat gold Cuban diamond ring first step is we're going to get a 3d file second step is we're going to email the 3d file to the 3d wax printer the third step is we're gonna go to the Jewelry District and pick up with 3d wax the next step is we're gonna take the 3d wax of the caster and tell him to make it in 14 karat yellow gold we will come back a few days later pay the caster and inspect the piece of porosity you will then take it to the bench jeweler for the initial polishing we will then go to the diamond center and have him confirm the diamond sizes are correct he will make us solicita diamonds needed and we will go buy the diamonds after that we will drop off the diamonds to the diamond Center and come back in a few days when he's finished setting diamonds after this we'll take the piece and bring it back to the bench jeweler for a final polishing so for this piece will be using Si diamonds the total carat weight is point 95 the price per carat for SI diamonds is $320 so that means our total is $304 four point ninety five carats there's a total of three hundred twelve stones being set in this ring and we're paying one dollar per stone because it already has holes and prongs so the total premium diamond siders $312 since we're making this piece in yellow gold it will not be plated so let's see how much it cost us to make this ring we paid $28 for the 3d file fifteen dollars to print a 3d wax we paid 600 $14.25 for casting the piece weight of nineteen point five grams multiplied by 31 point five and that's six 1425 we paid $15 for polishing we will not have to pay for the final polishing so the total cost to make your piece is 1280 $8.25 let's talk about findings the findings are little pieces such as earring screws that are too much of a problem to make there will be stores in the jewelry district that's so accessory such as this so if you guys are making jewelry like earrings you only have to catch the main piece you don't have to make the backings in the screws you will simply buy the backings and screws and the bench jeweler will solder it right that's every Jewelry District is gonna have a store that sells finding these findings are basically little accessories which you don't want to catch yourself such as chain logs and earring backings you can buy things such as chain locks and other small accessories from these stories also you could buy jewelry packaging and other things you might need for your business let's talk about how to make human chains we will go to see GG trader.com and buy the files you will then resize the files to the millimeter size we want and rhino3d we will then print one 3d file with the link open and one more the link closed we will also print all of the parts of the lock we will then cast all of these pieces and make rubber molds for each one this is much cheaper than printing each leg individually we will give both the open and the close rubber mold to the caster and he will make as many links as needed part chain after all the links are casted we will go to our bench jeweler and he can soldered links depending on the size of the chain it will usually cost around 50 to 100 dollars to solder the links and power to chain another way to do this is to weld the links using a laser machine these machines are also used to repair jewelry the welder will insert both hands into the Machine and with the microscope and find laser he will weld all the links together let's talk about how to appraise jewelry alright guys let's talk about how to replace jewelry before we do I just want to say one thing I haven't looked at jewelry on eBay for a long time but there's a very serious gap in the market these jewelers are selling complete garbage I mean look at this noise look at this ring right here look at this ring look how this ring was casted this is just completely embarrassing look at all these flaws right here look at all this and the funny thing is that this is all selling this ring just sold look at this ring right here this guy didn't even bother taking pictures he just Photoshop the ring on the finger and this one sold too by the way really quick guys when you start your jewelry business I want you guys start selling on eBay the first thing you're gonna do is build up a little bit of feedback obviously you won't get to 8,000 but try to get at least 50 and try to keep your rating at around 99 percent the first 10 products you're gonna sell are gonna be products like this ring right here around grams alright guys let's talk about how to play jewelry so this ring right here is 14 carats let's say right now the price of 14 carats program is $30 so what casting each gram will cost is $31.50 this ring weighs 5.3 grams times 31 50 that's 167 dollars plus $20 for labor so the total cost of this ring is about 186 dollars plus $15 for labor so the total cost will be around 182 dollars and he's selling it for 280 and actually he discounted his prices because this whole economic situation let's look at this ring right here since 1 the topic of Cuban rings this ring right here is 8.2 grams a 14-karat gold so 8.2 x 31.5 that's 258 dollars plus $15 for labor that's two hundred seventy three dollars and he wants 435 and this one sold as well let's take a look at this next ring so this ring has diamonds it's 14 carats it has approximately two point 55 carats of Si one diamonds and it weighs 22 point eight grams it has approximately 80 stones so let's see how much it costs to make this so 22 point eight grams times 31 point five that's 718 then we'll calculate the price of diamonds two point fifty five times three hundred twenty per carat that's eight sixteen plus eighty dollars to set the stones and let's say 25 dollars for labor so the total cost to make this ring is approximately one thousand six hundred thirty-nine dollars and he's selling it for he wants three thousand for it let's talk about how to take orders for custom pieces this is definitely something you guys will not be doing in the beginning you will only be doing this when you have a lot of experience and when you will visually be able to tell how much it costs to make a piece do not try to make custom pieces when you're first starting out also in many cases you will need to have a lot of money to make custom pieces the profit margins on custom pieces is usually around two hundred percent so the deposit you will take is going to be the full amount that it will cost it to make the piece you will have to show the customer each part of making the custom piece you will start by getting the 3d design done when your customer approves a 3d design you will then go to the 3d wax part you will then print the 3d wax and show pictures to the customer if he approves you will then continue making the piece when the peace is finished you will show pictures to the customer to get the final approval let's talk about customizing watches if you guys want your watch to maintain value the best thing you could do is not to add any aftermarket parts or diamonds to the watch anytime any aftermarket diamonds are set on the watch regardless of the quality that the watch loses value if you guys decide to customize watches the process is very simple you will first take the watch to a watch repair guy and have him disassemble the watch you will then take the watch to a diamond center and set diamonds you will be paying one dollar and fifty cents to set each stone and one dollar to set stones into the bezel if you will be setting stones and stainless steel watches you have to be more careful because with gold if the center makes a mistake he can melt it down and correct it with steel it's much more difficult so make sure you're only working with very experienced diamond setters it is okay to get custom aftermarket dials and make aftermarket bezels these parts can be replaced back with the original parts the process of making a bezel is very simple is the exact same as making any piece of jewelry you will find out the inside width of the watch and to make the bezel in a 3d program you will then print and cast it also if you add any aftermarket parts or rolex watch for add diamonds to the watch you will not be able to service the watch let's talk about how to build the business alright guys so the first thing you're gonna do as soon as you make a piece of jewelry is to take professional photographs this is one of the most important things do not do photos yourself you have to take it to a professional simply type in jewelry photography into Google and your local jewelry this ship will have a photography place this is one of the main photographers for the Jewelry District in Los Angeles let's take a look at the website scroll down you guys will have to take a bunch of professional pictures the more pictures you guys ordered the cheaper will cost but usually cost around $10 per picture you guys can negotiate the price if you do a lot of pictures also what is absolutely mandatory to do videos videos also cost around twelve dollars let's take a look at one of these videos the videos will be short ten-second videos if you're selling expensive jewelry people need to see actual videos pictures are not enough first thing you guys will do after getting your professional pictures and start selling on eBay it is very important to build your eBay store with feedback as I mentioned earlier the first pieces you guys will be making are not gonna be too heavy and I'm not gonna have too many diamonds also I want you guys to understand one very important concept your photographs just like you 3d files or assets once you guys make a piece of jewelry take professional photographs of it listed on eBay and sell it you guys can then relist the product on eBay without having anything in stock when the item sells again you can go to the jewelry district and make that piece this way you guys can have a bunch of professional photographs and have a few jewelry business without having any products and stuff also make sure you guys never ship by USPS you should only use UPS DHL FedEx shipping also make sure you should express mail and always get insurance the next step is to make our website or Shopify store alright guys it's going a website called if and cocom this website is a perfect example in the Shopify store so back in the day to build a website will be extremely difficult and cost thousands of dollars these days you can build a website like this and in as little as a few hours also shop provides extremely cheap it cost around $30 per month you will simply upload your professional photos here set the prices and your store will be ready to go the next thing you want to do is roll your social media this includes Instagram Facebook and YouTube it is very important to roll a large YouTube channel this is a very good way to get free traffic you will also make your Shopify store to these platforms and one of the most important things is to run Facebook ads and Google ads running Facebook ads and Google Ads is a very important part of any online e-commerce store and this is definitely something you guys should learn and get good at it is also very important to collect customer email addresses and do email marketing and the most important part of the jewelry business is reinvesting money back into inventory so the worst thing you guys can do when you start making a little bit of money from this business is to start buying stupid things such as Gucci and other liabilities this is a trap that a lot of young people fall into when you guys see those privately owned jewelry stores with a ton of inventory and you wonder how they got it this is exactly how they got it they reinvested everything back into products take a look at this chart dance say for example you start on the first month with one thousand dollars and you make five pieces of jewelry each piece cost you 200 dollars if you sell all five pieces by the end of the month you end up with two thousand dollars that shouldn't be too hard to do you guys can sell a piece of jewelry per day so now you start a second month with two thousand dollars cash again you make ten pieces of jewelry each one were to hundra dollars you sell it and at the end of the month you have $4,000 if you guys keep doing this by the end of the year it should be over a million obviously you might not get there right away and it's gonna take a couple months to learn but this should be your target alright I hope you guys like the video if you did please hit the like button and subscribe the purpose of the channel is to make real content for entrepreneurs without all the BS if you guys have any questions feel free to ask in the comments below and I'll see you guys in the next one you

Channel: Online Empires

Views: 178,417

Rating: 4.9414592 out of 5

Keywords: How, To, Make, Jewelry, TV Johnny, Setting DIamonds, Make Jewelry, Set DIamonds, Cuban Chain, Miami, Ben Baller, Interview, How To Make Grills, test, gold, casting, how to cast gold, avianne and co, Jacob the jeweler, Miami cuban, Franky diamonds, ifandco, traxnyc, jacoje lynx, test gold, acid test, championship ring, necklace, loose diamonds, vvs, vs, si, gold coins, silver, scrap, numismatics, bullion, gq, mr flawless, rolex, bezel, dial, rafaello and co

Id: X7fm3mG6jv4

Length: 32min 0sec (1920 seconds)

Published: Mon Apr 27 2020