The jewelry repair industry today stands at a whopping valuation of $1.6 billion in the USA, slowly but surely becoming a lucrative industry to enter. There are several reasons why one should invest in a jewelry repair business today and take help from the jewelry repair shop POS software.
For starters, jewelry purchasing demand is high, particularly in the US, which means that eventually, more repairs are required. There is no cut-throat competition so far, as this industry has not been bombarded with investors.
And lastly, this is a high-profit margin business. Jewelry is a luxury item, and it’s purchased due to its appearance. Customers are often willing to pay a premium for quality repair services that preserve the value and appearance of their jewelry.
Now that we have established jewelry repair industry is a lucrative one, so let’s look at what tools you need in order to run this business:
1-Jewelry repair tools
The following are some examples of tools you’d need in order to start a jewelry repair shop.
i) Pliers: These can be used to bend and shape wires, open and close jump rings, form loops, etc.
ii) Cutters: They are used for cutting wires, metals, and other materials to the desired length or shape. There are several types of cutters, including flash cutters, side cutters, end cutters, etc., all that help with performing different jobs and making your life as a repair person easy.
iii) Files: These are commonly used for smoothing and shaping metal. This helps with removing rough edges and creating a smooth finish on the surface of the jewelry. Some types of files that repair businesses use include needle files, round files, flat files, etc.
iv) Hammers: Hammer’s most obvious uses are setting stones and removing dents. It’s also used for shaping metal as well as hardening metal by striking it.
2- Jewelry cleaning tools
Along with repairs, jewelry cleaning is also an important aspect of this business, projected to grow around 8% yearly, so, therefore, let’s look at some cleaning tools you will need.
i) Ultrasonic cleaners: These are used to remove and clean grime and other contaminants that your jewelry will catch over time. Areas that can be challenging to clean by using bare hands are where this product comes to use the most. It’s also gentle on sensitive items, which means the chances of damaging a product while attempting to clean also goes down.
ii) Steamers: Steamers are also used for cleaning dirt and grime using high-pressure steam. The steam is created by heating water to a high temperature and then directing it through a nozzle onto the jewelry.
iii) Polishing cloth: Polishing cloths are an essential tool for jewelry repair as they are used to clean and polish the surface of jewelry items. These are made of soft and gentle fabrics, such as microfiber or flannel, that do not scratch or damage the surface of the jewelry. Polishing cloths work by rubbing the surface of the jewelry item to remove dirt and fingerprints. They help restore the shine of the jewelry, giving it a renewed appearance.
3- Jewelry measuring tools
These are used to measure various aspects of jewelry items accurately. Some common types of jewelry measuring tools include:
i) Calipers: They are primarily used to measure the diameter, thickness, and depth of objects in an accurate manner. Calipers also come in different types, such as digital and vernier, etc.
ii) Scales: Scales, as the name suggests, are used to measure the weight of jewelry items. These are available in digital or analog versions.
iii) Ring sizers: These are used to measure the rig. They can be made of metal, plastic, or other materials and come in different styles, such as mandrel sizers or adjustable sizes.
iv) Gauges: These tools are used to measure the thickness or diameter of the wire, sheet metal, or other materials used in jewelry making.
4- Safety equipment
Safety equipment is most important for any business as safety should always come first. Be it your employees or yourself, safety equipment should be provided to everyone. Here are a few things that are commonly used as safety equipment.
i) Gloves: An essential tool for jewelry repair as they help to protect the hands of the jeweler during the repair process. Jewelry repair often involves working with sharp or pointed tools, chemicals, and other potentially hazardous materials, which can pose a risk to the skin of the hands. Gloves can also protect the hands from any cuts and other injuries that can occur during the repair process.
ii) Eye protection: Eye protection helps with avoiding potential hazards that may go into your eye during the repair process. Since eyes are sensitive, having eye protection at all times is a must.
5- Point of Sale Software
We are done with all the tools that we need to run a jewelry repair business. But how do we run the business efficiently? The answer: point of sale software. POS can help you manage inventory, track sales, manage customers smoothly, manage finances and invoices, and overall inject efficiency into business by replacing all manual processes with automation and bringing all your tasks into one place.
In conclusion, the jewelry repair industry is a highly profitable and relatively untapped market. Investing in this industry can be a wise decision due to the high demand for jewelry repair services, the absence of cut-throat competition, and the potential for high-profit margins.
However, to run a successful jewelry repair business, it is essential to have the right tools, such as jewelry repair tools, cleaning tools, jewelry measuring tools, and safety equipment.
Additionally, jewelry repair shop POS software can help manage inventory, track sales, manage customers, and streamline finances, making the overall business process more efficient. By investing in the right tools and software, one can establish a successful and lucrative jewelry repair business.