Jennifer Hillyer Jewelry LLC | Application Preview
Jennifer Hillyer Jewelry LLC is seeking $171,000 in government grants to support various aspects of business expansion and sustainability in the fine jewelry market. The proposed funding allocation includes:
- $36,000 for hiring a PR firm and marketing agency with showroom access to enhance brand visibility over a year.
- $21,000 to employ a part-time assistant/director of sales.
- $20,000 to participate in two major trade shows (Melee and NYNow), covering booth fees and travel costs, which will help enter the B2B market.
- $15,000 for rebranding efforts and website development.
- $12,000 dedicated to designing and producing samples.
- $24,000 to supplement personal income.
- $11,000 to eliminate high-interest debt.
The business plan outlines a strategic growth path from 2024 to 2028. In 2024, onboarding an assistant for social media and email marketing will be prioritized, along with saving for future trade shows and focusing on B2B sales. By 2025, Hillyer aims to create a fair-mined gold jewelry collection linked to humanitarian causes and engage with local manufacturers. The plan includes equipment upgrades and further trade show participation by 2026, moving operations out of her home in 2027, and directly sourcing materials from fair-mined gold and gemstone mines in 2028.
Jennifer highlights her credentials as the first female goldsmith at David Yurman and emphasizes her dedication to the intersection of art and science. With nearly a decade of experience in the industry, she identifies a lack of financial resources as an obstacle to growth and notes the higher costs associated with running an environmentally sustainable business.
In the competitive landscape, she faces established brands like Wwake, Catbird, and Mejuri, which focus on a sustainable aesthetic targeting professional women aged 30-45. Jennifer's competitive edge lies in her unique artistic voice, mastery of craftsmanship, use of innovative technology in jewelry-making, and commitment to fair-mined gold, setting her apart from other players in the market.
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General Information
Business Registration Number: 85-3010315
Location: Morristown, NJ, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
$36,000 to hire a PR firm/marketing agency with a showroom for 12 months - essential for gaining exposure and expanding my customer base $21,000 to hire a part-time assistant/director of sales $20,000 for two major industry trade shows - Melee and NYNow, includes booth fees and travel; essential for diversifying my revenue streams to include B2B sales $15,000 for rebranding and website development $12,000 for design and manufacturing of samples $24,000 to supplement personal income $11,000 pay off high interest debt
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Business Plan
2024: on-boarding of an assistant to help manage my social media and email marketing. Starting to save money to invest in 3 years of essential jewelry industry trade shows, and expanding to the B2B market with wholesale. Paying off the business' high interest debt. 2025: Hire a PR firm who will act as marketing and sales representation. Create a small fair-mined gold jewelry collection for sale & be able to donate proceeds to humanitarian initiatives. Attend at least one major jewelry industry trade show (booth fees are upwards of $9000 per show) Contract with local manufacturers to produce the collections. 2026: Make necessary equipment upgrades & attend at least two major jewelry industry trade shows. Become a licensed Fair-mined jewelry brand. 2027: Move the business out of my home and hire a female stone-setter and an in-house female master jeweler. 2028: Travel to fair-mined gold mines and fair-trade gemstone mines in South America & West Africa to source materials directly from the miners. I was the first female goldsmith to be hired into the master workshop at David Yurman, an international, Manahattan-based fine jewelry company. I am the only member of my family to have gone into an artistic field and I am strongly committed to the belief that there is a thin line between art and science. I am highly driven to succeed in my field and I believe I have a unique voice and viewpoint to offer. I have been in business for myself for 3 years but in the Fine Jewelry industry for almost 10. The numbers will show that my business wants to grow but lacks the financial backing to hire the help I need to move forward. The unfortunate truth is that it's also more expensive to run an environmentally sustainable business - there are fees and premiums on fair-mined gold and fair-trade gemstones that are a barrier to entry for many.
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Self Identified Competition
Wwake, Catbird, and Mejuri. These are all fine jewelry companies that have a refined and delicate aesthetic, who cater to entry-level jewelry collectors, are committed to "sustainable practices," are major players in the East Coast jewelry market, who are also marketing to a 30-45 year old professional female These businesses do not highlight the unique voice and master craftsmanship of the female goldsmith, the roles of technology and innovation in the jewelry industry, nor are they working in fairmined gold.
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