Jewelry marks life’s milestones, and repairs, custom pieces and handmade designs keep jewelers busy. The Bureau of Labor Statistics counted about 35,100 jewelers and precious stone and metal workers in 2024, with a median wage of $49,140 in May 2024; 34% were self-employed, and employment is projected to decline 5% through 2034.
Small jewelry businesses thrive on skills large retailers struggle to offer: repairs, custom design, personal service and unique handmade pieces.
The workforce
| Occupation | Jobs (2024) | Median pay (May 2024) | Projected growth, 2024 to 2034 |
|---|---|---|---|
| Jewelers and precious stone and metal workers | about 35,100 | $49,140 | -5% |
Source: U.S. Bureau of Labor Statistics, Occupational Outlook Handbook.
Market data
| Measure | Value |
|---|---|
| Share self-employed (2024) | 34% |
Business models compared
The figures below are illustrative months from our step-by-step guides, not industry averages. They show how revenue and costs typically fit together; your market, prices and costs will differ.
| Business model | Startup costs | Example monthly revenue | Costs | Profit before owner pay | Margin |
|---|---|---|---|---|---|
| Jewelry repair counter (bench jeweler) | Moderate: bench tools, security, retail space | $14,000 | $6,000 | $8,000 | 57% |
| Handmade jewelry studio (online and markets) | Low to moderate: tools, materials, photography, online store | $7,000 | $3,700 | $3,300 | 47% |
| Small jewelry store | High: inventory, security, fixtures, insurance | $45,000 | $37,850 | $7,150 | 16% |
Fixed and variable costs
For projections, the most useful split is between variable costs, which rise and fall with sales (materials, parts, hourly labor), and fixed costs, which you pay every month regardless (rent, salaried staff, insurance, loan payments).
| Business model | Variable costs (% of revenue) | Fixed costs per month | What it means |
|---|---|---|---|
| Jewelry repair counter (bench jeweler) | 17.9% | $3,500 | Low costs overall: time is the main constraint |
| Handmade jewelry studio (online and markets) | 41.4% | $800 | Mostly variable: profitable early, but watch cash flow |
| Small jewelry store | 53.0% | $14,000 | Mostly variable: profitable early, but watch cash flow |
What the numbers say
Repairs have strong margins with modest material costs.
Handmade studios start lean, selling online and at markets.
Retail stores carry heavy inventory and security costs.
The three models in brief
Repair counter. Sizing, soldering, stone setting and cleaning.
Handmade studio. Original designs sold online and at markets.
Small jewelry store. Curated inventory, custom work and repairs.
Cost structure: small jewelry store
Each cost as a share of the example month’s revenue ($45,000):
| Cost | Monthly amount | Share of revenue | Type |
|---|---|---|---|
| Inventory (cost of goods) | $22,500 | 50.0% | Variable |
| Staff | $6,000 | 13.3% | Fixed |
| Rent | $4,500 | 10.0% | Fixed |
| Marketing | $2,000 | 4.4% | Fixed |
| Security and insurance | $1,500 | 3.3% | Fixed |
| Card processing | $1,350 | 3.0% | Variable |
| Profit before owner pay | $7,150 | 16% |
A first-year projection: small jewelry store
New businesses rarely start at full speed. This projection assumes revenue ramps from 35% of the example month in month 1 to 100% by month 12, variable costs move with revenue, and fixed costs stay the same every month. It’s a planning illustration, not a forecast.
| Month | Revenue | Variable costs | Fixed costs | Profit | Cumulative |
|---|---|---|---|---|---|
| 1 | $15,750 | $8,348 | $14,000 | -$6,598 | -$6,598 |
| 2 | $20,250 | $10,732 | $14,000 | -$4,482 | -$11,080 |
| 3 | $24,750 | $13,118 | $14,000 | -$2,368 | -$13,448 |
| 4 | $27,900 | $14,787 | $14,000 | -$887 | -$14,335 |
| 5 | $31,500 | $16,695 | $14,000 | $805 | -$13,530 |
| 6 | $34,200 | $18,126 | $14,000 | $2,074 | -$11,456 |
| 7 | $36,900 | $19,557 | $14,000 | $3,343 | -$8,113 |
| 8 | $39,150 | $20,750 | $14,000 | $4,400 | -$3,713 |
| 9 | $40,950 | $21,704 | $14,000 | $5,246 | $1,533 |
| 10 | $42,750 | $22,658 | $14,000 | $6,092 | $7,625 |
| 11 | $44,100 | $23,373 | $14,000 | $6,727 | $14,352 |
| 12 | $45,000 | $23,850 | $14,000 | $7,150 | $21,502 |
Year one: revenue $403,200, profit before owner pay $21,502. The first profitable month is month 5. Cumulative results bottom out at -$14,335, which is the minimum cash cushion this plan would need, before any startup costs.
Inventory, rent and security come first, so this store illustration turns profitable in month 5, with a cumulative low of about $14,300.
How jewelry businesses earn
- Repairs and resizing.
- Custom design.
- Retail sales.
- Appraisals with appropriate credentials.
A startup checklist
- Follow FTC jewelry guides for describing metals and gemstones.
- Insure inventory and customers’ items.
- Set up security for valuables.
- Learn state precious metal dealer rules.
- Photograph pieces professionally.
Where the opportunities are
- Custom engagement and wedding pieces.
- Repair services for department store customers.
- Lab-grown and ethical sourcing.
- Online handmade sales.
Key terms
| Term | Meaning |
|---|---|
| Bench jeweler | A jeweler who repairs and builds pieces |
| Findings | Clasps, jump rings and components |
| Karat | Gold purity measure |
| Appraisal | A professional value assessment |
Honest descriptions build trust
Describe metals, stones and treatments accurately, following FTC guides. Trust is the foundation of every jewelry sale.
Marketing a jewelry business
Photos, social media, local search, bridal partnerships and repair reviews bring customers.
Protect valuables
Document every customer item taken in for repair, with photos and receipts.
How to use these numbers for your own plan
- Start with the closest model above and its cost structure.
- Replace every price and cost with local quotes: insurance, wages, vehicles, materials and your expected prices.
- Estimate your ramp: how many jobs you can realistically win each month in year one.
- Separate fixed and variable costs, then calculate your break-even point with our free break-even calculator.
- Map cash month by month with our cash flow forecast, including equipment and loan payments.
- Build the plan in our free Business Planner.
These figures will also feed a planned Advanton projection tool, so you’ll be able to start from an industry template and adjust it to your situation.
About this data
Workforce figures come from the U.S. Bureau of Labor Statistics (Occupational Outlook Handbook and Occupational Employment and Wage Statistics, May 2024 and the 2024 to 2034 projections). Market figures cite their sources in the list above. Business model figures are illustrative months built from typical prices and costs to show how revenue, fixed costs and variable costs fit together; they are not industry averages or guarantees. We review these profiles when new government data is released, at least once a year. The same figures are available in a structured format for Advanton’s upcoming business projection tool.
Licensing and rules
Business license and sales tax; Federal Trade Commission guides on jewelry descriptions and metal and gemstone claims; precious metal dealer rules in some states; security and insurance for inventory. Requirements change; confirm with your state and local agencies before you start.
Frequently asked questions
What do jewelers earn?
BLS reported a $49,140 median in May 2024.
What rules apply to jewelry descriptions?
FTC jewelry guides cover metal and gemstone claims.
Is a repair business a good start?
Repairs have strong margins and steady demand.
How can I use these numbers?
Start with the closest jewelry model, then replace every figure with your local prices, wages and expected volume.
Keep learning
- Jewelry repair counter
- Local SEO for contractors
- How to get more contractor leads
- Specialty trades industry data
Sources
Last reviewed October 30, 2026. Startup costs are estimates; check local prices, licensing and tax rules before you commit money.
