If you already have training in metalwork and gemology, then you probably don’t need to hire help outside of an accountant and other support staff.However, if you’re a first-generation jewelry store owner, at minimum you need staff with gemological training and experience working with, buying, and selling precious metals.
As your business grows, you will want to add more tools to your tool set, including grinders, a professional workbench, various gemological tools, hammers and mallets, laser welders, loupes and magnifiers, metal forming tools, gauges and scales, molds and casts, engraving tools, beading supplies and beaders, burs and drills, adhesives and various specialty compounds, polishers, and safety equipment.
Costs vary, of course, depending on the size and scope of your operation.
However, a full tool set may add several thousand dollars to the overhead cost.
Most businesses are required to collect sales tax on the goods or services they provide.
To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.