I don't have any jewelry ideas... but I have a suggestion --- if you have a Hobby Lobby nearby somewhere, you might want to compare prices before you buy everything in Walmart. While Wally World does have a lot of things cheaper than in other stores, Hobby Lobby is a hobby store and so may stock many craft items cheaper. I used to do a lot of Native American bead work. I bought probably 98% of my supplies from Hobby Lobby. I don't do much bead work now, but for any project I dream up...I usually head to HL.*
It may also be worthwhile to check online for some items. I don't know anything about jewelry making...but if there is any item that you would use a lot of, you may be able to get that item in bulk, and it could turn out to be cheaper in the longer.
The less you have to spend, the better prices you can offer, the more you can make.
-Michael
*Yeah, HL is that great little company that apparently doesn't have a whole lotta love for those of us in the TGLB community. Unfortunately however, as a wanna-be-artist, HL is the only place in my area that has a good selection of art and craft materials at a decent price. :(