Custom Design A Balancing Act for Profits

Custom jewelry design has advantages for retailers, including a chance to promote a service not available in every store and one that defies price-comparison. It also has disadvantages, including precious time tied up in design and fabrication, not to mention the occasional customer who will never be happy with the finished piece. The secret to success is knowing how to balance these pluses and minuses and how to price to your advantage. Unliked finished jewelry -- which you buy for X and sell for Y -- custom design has three profit elements to consider: materials, overhead and time. Here's a closer look at each. Materials & overhead: The easiest part of the equation to determine is the cost of materials. You have the least control over this, though it benefits you to consider which suppliers of components offer the best options on quality, price and delivery time. Another fa
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