Trade bench: repairs for local jewelry stores

Independent jewelry stores, pawn shops, estate jewelry sellers and small brands that sell jewelry but do not have their own goldsmith.

Wholesale price per job, such as a ring resize, retip or chain repair, plus extra for stone setting or custom work. Steady store accounts give repeat volume.

• Fast, accurate bench work in gold and silver
• Stone setting and laser or torch soldering
• Reliable deadlines and clear job tracking
• Building relationships with store owners

• Startup cost depends heavily on equipment: a full bench, polishing motor, torches, a laser welder and casting gear can add up quickly, so start with essential repair tools and buy used or add equipment as accounts grow
• Jewelers block or bailee insurance covering high-value items from stores while in your possession; premiums can be a significant ongoing cost
• Security for the workshop, including a safe and alarm, since you hold valuable property
• Local business license, zoning for workshop use, and sales tax rules; check with your city or county and state
• Rules for handling scrap and gold filings, and whether secondhand or precious metal dealer rules apply if you buy metal
• Late payments and reliance on a few store accounts, so agree terms up front
• Workshop safety, including ventilation, fire protection and chemical storage

Estimates are typically around $20,000 to $70,000, depending heavily on equipment such as polishing motors, torches, a laser welder and casting gear. Starting with essential repair tools and buying used can keep costs down.

Monthly revenue is typically estimated at around $2,500 to $10,000, depending on how many store accounts you win, your turnaround speed and your pricing. Estimates assume at least about 25 hours a week.

Check jewelers block or bailee insurance for stores' items, workshop security, local business license, zoning and sales tax rules. Also check rules for scrap and gold filings, dealer rules if you buy metal, and payment terms.