How to Start a Jewelry Business in the Philippines - The Thrifty Pinay

Uy wow 18k, yayamanin!” How many times have we heard that line before? Since the dawn of time, jewelry ownership has been linked to financial capacity, social status, and prestige. But owning a jewelry business in the Philippines? That’s a different kind of buzz because you’re literally the source of other people’s perceptual wealth and reputation.

I’ve owned a couple of precious gems and treasures in my lifetime. That is why I understand why people— girls, in particular— are drawn to it. Jewels exude an alluring and irresistible aura that captures the eyes of onlookers. Having said that, I know in my heart that jewelry will always have a market, no matter the economy. So this begs the question: how to start a jewelry business in the Philippines? Keep reading because we’ll explore it in this comprehensive article.

Is a Jewelry Business Profitable in the Philippines?

Before we answer this question, did you know that in 2019, the Philippines solemnized 1183 marriages each day? That totals more than 400,000 marriages throughout the entire year. 

Here’s the rub: That number does not include the partners marking their anniversaries, mothers celebrating their birthdays and Valentine’s day commemorations. With the right kind of marketing, you are looking at a very profitable business in jewelry. After all, there are tons of reasons to buy precious stones. 

However, that’s not to say all jewelry businesses boom and join the industry’s household names. It’s a very competitive category riddled with caveats and numerous factors, making jewelry selling highly nuanced. But I’m here to guide you on how to start a jewelry business with tips to make it a success.

How to Start a Jewelry Business in the Philippines: Step-by-step Guide

Starting, maintaining, and managing startups is hard – jewelry businesses are no exemption. But if you know what to do right off the bat, the succeeding steps become significantly easier. If you’re interested to know how to start your own jewelry brand, read the steps below:

1. Define your line

It always starts with the question: what type of jewelry do you want to sell?

Uhm, you know, legit ones… Yung mga 18 ‘carrots’ ganun…

If you’re still confused about what ‘line’ means, don’t worry— that’s what I’m here to help you with. Selling jewelry is not as simple as it is. Many Filipinos mistake jewelry for anything gold or silver, sometimes accompanied by rocks or bato. But that is not always the case. Even simple textile bangles can be treated as jewelry. It’s the “line” that defines the profile of your chosen products.

Here’s an overview:

a. Fine jewelry

This is the most luxurious class of jewelry as the metals and gems are made from precious and semi-precious materials. Fine jewelry is characterized by fine craftsmanship, with little to no flaws. As a result, stores sell them at higher price points. You will often find them purchased for weddings and special occasions.

b. Fashion jewelry 

These are also called costume jewelry because they are imitations of the real thing. Although also used for personal adornment, fashion jewelry is crafted from less expensive materials like synthetic gems, beads, wires and stainless steel. As such, you can easily mass-produce them and sell them at lower prices.

c. A bit of both

In other words, you sell both fine and costume jewelry.

d. Others

Others are outliers. Unlike your regular jewelry, these ones rely on expert craftsmanship, ambitious designs and uniqueness. A class of their own, so to speak.

Normally, these types of jewelry use mid-range materials like textiles, wood, 3D prints and metals to create. The price point varies, but they make perfect within-reach jewelry gifts.

2. Clarify your process of acquisition

Whichever line you choose becomes your brand. While you have the liberty to sell everything, this will make it more complicated to market your business (more on this later!)

Say, you already chose a line, what happens next?

After choosing your intended route, it’s now time to figure out how you plan to get your jewelry business in the Philippines. Are you skilled and patient enough to master the art of crafting your own products? Or, will you succumb to the increasing pressure of simply selling and reselling items?

This is totally your prerogative, and your choice will depend on several factors. Here are some examples:

  • Do you have the time to learn a new (and possibly foreign) skill? 
  • Do you have the budget to start your own crafting facility? 
  • Do you have a team who can manufacture them for you?

If not, outsourcing manufacturers or reselling ready-made items may be the better option.

3. Prepare your capital

Items number 1 and 2 will both come into your business plan, along with your market research and feasibility study. Once you have a solid plan and vision for your business, only then will you prepare the capital. After all, what good is money if it all burns the moment you put up an enterprise?

The capital amount depends on many factors like what line you prefer and your process of acquisition. For fashion and costume jewelry, it can be as low as ₱20,000 but it will hover around the hundred(s) thousands mark for fine jewelry— not including the physical store construction and preparation costs.

4. Find your source

As mentioned above, there are various types of jewelry business ideas. Depending on your choice, you may also need different suppliers. For instance, if you want someone to craft a ring or necklace of your design, then what you need is a jewelry manufacturer. Conversely, if you simply want to resell fashion or costume jewelry, then finding a supplier is your best bet.

Because I love you *wink*, here are some resources to help you out!

If you want to create your own products, here are material suppliers:

If you prefer manufacturers who can craft your designs, reach out to these businesses:

How about reselling jewelry? Here are some brands:

I did my due diligence to look into each of these businesses. But since you plan to start your own, kindly do your due diligence to legit check each of them. Selling jewelry is a big investment and should never be taken lightly. So make sure you find the right people for your brand.

5. Legalize the jewelry business

Once all the planning, capital and business network have been completed, nothing’s stopping you from making your business a full-fledged legal entity. This is especially true if you plan on opening a physical store. Take your time to go over DTI’s business permit requirements several times to avoid overlooking details. 

6. Engage in marketing

You can take a business out of marketing but you can never take marketing out of a business. Marketing is the element that bridges your business to your targeted audience. And there’s no getting around marketing while still expecting a prosperous enterprise.

Today, more than half of the world’s population use social media. This makes social media platforms the perfect avenue to market and advertise your business. Create a page, set up an ads account and begin boosting your product listings for expanded and targeted traction. Or, better yet, hire a social media marketer for good measure. They’ll perform their duties in alignment with your goals.

How to Start a Jewelry Business in the Philippines

How to Sell Jewelry in the Philippines?

Starting a business is one thing, but selling it is another. You can choose to be your company’s front-facing person or a background entity. Whichever you select depends on your preferences, but here are some methods of selling jewelry in the country: 

  1. Open a physical store

Physical stores are always a good idea for expensive items like jewelry. People will want to check luxury items by hand before committing to buy them. In setting up a physical store, choose a prime spot accessible to your market. Preferably a space in malls where countless consumers pass by daily. Otherwise, you can rent out a space in an urban locality— for safety, of course.

  1. Leverage social media

Aside from opening a physical store where your reach is limited, social media augments your limitations. Through a social media page, you can market to people outside your area of operations. Plus, advertising on social media is a big thing nowadays.

  1. Start a website

Setting up a website is optional since Filipinos are not that keen on online searches for products. We often visit online selling platforms like Shopee or check items out on Facebook rather than Google things. 

However, if you want to target the high-nose class of society with your fine jewelry, a website is the cherry-on-top to nudge their buying decisions!

  1. Create an online store

Despite the issues of Shopee today, they remain viable platforms for selling goods like jewelry. You may create an online store there for expanded reach. Alternatively, Lazada is also another good selling platform. 

Why don’t you just sell on both for good measure?

  1. Live-selling

I’m gonna be honest with you, I have my qualms with this marketing strategy. But hey! If it works for others, it may also be viable for you. Live selling is a popular sales practice in the country, particularly on Facebook. Who knows? It may be your golden ticket to success.

A jewelry business is always profitable provided you have a solid business plan and marketing strategies. Make sure to invest hours of research and planning before consummating your jewelry ventures. With enough effort, I’m certain you can also grow your business to be the next Avec Moi in a sea of unknown jewellers.

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How to Start a Jewelry Business in the Philippines

By Ameena Rey-Franc

Recognized as one of the Top Finance Blogs in the PH. Ameena Rey-Franc (founder of TTP) is a former Banker and BS Accountancy graduate turned Blogger, Keynote Speaker, and entrepreneur. Currently an RFP delegate, she is also the Author of a book about Financial Resilience and has held seminars for reputable companies like GrabFoodPH, Pru Life UK, VISA, JPMorgan Chase& Co., Paypal, Fundline, Moneymax, and many more. The Thrifty Pinay's mission is to empower women to LEARN, EARN, and be FINANCIALLY-INDEPENDENT no matter what life stage they are in.