[Jewelry making - Article 00289] - Re: [Orchid] Introducing - Asha Nelson

[CeltCrafts]

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Asha, 

    I own a bead and jewelry store in Utah.  A very good program for
    tracking materials in this kind of business is called MYOB.  (Mind
    Your Own  Business).  It's worked very well for me in that I can
    take some of my  loose beads, and all the other individual materials
    and combine them for the  cost of goods for the bracelet, necklace or
    earrings I make from them. You  can do the same thing for
    silver/gold materials, etc. (If you go to a  computer company to have
    them "build" your computer it's cheaper and they can  add the
    software pkg for much less!) 

    Yes you do need to keep track of cost of goods, and your showcase
    would be  in furniture, fixtures, etc. These all need to be kept
    track of for tax  purposes. 

    If you can't afford a CPA, try taking a community accounting class.
    It will be invaluable to let you know what you NEED to keep track of,
    even if  you end up going to the CPA. (I was an accounting clerk for
    more years  than I liked). 

    Hang on for a wild ride. You are in an area of high competition, so
    you may need to offer something that can't be found readily in your
    area. People (especially on lists like these) tried to tell me NOT to
    open the  business. Even though the first year was a nightmare, I'm
    glad I did it  and wouldn't change a thing.  Just celebrated my 5th
    year in  business.  

Good luck!
Kerry
http://www.celtcraftjewelry.com
http://www.beadcoop.com

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