If you have an interest in gems and jewelry, you can think of starting your own gemstone e-business. It is a simple and effective way to propel your interests and earn money at the same time. It is ideal for people looking to work from home.

When it comes to starting your own gemstone e-business, you will need to put in a great deal of time and effort. Setting up a gemstone business online does not only need perseverance but also an unlimited cash flow. For the uninitiated, this might become a daunting task.

With that in mind, it is always potent to seek help of experienced professionals. They will not only help you source high-quality stones but will also aid you in starting your gemstone e-business on a large scale.

• Things to Keep In Mind When Starting Your Own Gemstone E-business
• Starting Your Own Gemstone E-business: Outlook and Scope
• First Steps in Starting Your Own Gemstone E-Business
• Tips to Help Maximize Your Web Presence While Starting Your Own Gemstone E-business
• Starting your own Gemstone e-business: Investing in the Right E-Commerce Platform
• How Much do Gem Dealers Make?
• Is Gem Cutting Profitable?
• How do Buying And Selling Gemstones Make Money?
• Gemstone Business Plan Sample
• How to Start Gemstone Business in Nigeria
• How to Start an Online Gemstone Business
• How to Start a Gemstone Business in Kenya
• How to Start Gem Business in Sri Lanka
• How to Become a Gem Dealer
• Gemstone Business License
• Selling Gemstones Online
• Is Gemstone Business Profitable?
• Starting a Gem Mining Business

Things to Keep In Mind When Starting Your Own Gemstone E-business

Buy Online: Entrepreneurs who wish to start their business on a small capital can choose to purchase gemstones from the mining sites itself, to find them in affordable rates. With this, the ability to identify gemstones might come in handy. It is always good to have a trusted expert testifying the validity of the stones on the matter.

Read Also: How To Make Money With Podcasts

This way, you can save yourself from potential potholes and subsequent losses. A number of jewelry trade shows and stores offer genuine items that can be purchased for affordable prices. Even with the cost of shipping, packaging, and handling involved, you can make an affordable purchase.

Choose What Gems to Buy: One of the first things to consider before starting your own gemstone e-business is deciding the type of gems you want to sell. Either you can hire an experienced gem cutter or you can choose to purchase cut gems beforehand.

The advantage of starting your own gemstone e-business is that you can leave a high margin for profit, depending on the rarity of the gems procured. This can successfully make do for the initial capital cost setup involved in hiring skilled gemstone handlers, cutters and machinery.

Get Experienced Personnel: If you decide to buy pre-cut stones, then it is essential to get a stonecutter who is experienced enough to handle the job. In the gemstone business, every cut needs to be scrutinized with utmost finesse. The mere cut alone can add to the value of the gemstones.

Otherwise, a single badly placed cut can reduce a precious diamond to cheap glasswork. In such a case, additional attention must be paid to cutting stones of lighter colors. Having proper knowledge of the cut and clarity can really help you in starting your own gemstone e-business.

Identify Your Consumer Base: The next thing to consider is your target audience. If you can indentify your consumer, you will have won half the battle. Selling your products online to a number of high-end buyers and collectors will not only help you expand your client base, but also find a potent connection with them.

A streamlined viewpoint of customers can bring forth better suggestions and products to keep them hooked. The best way to understand new trends is to conduct regular market researches in terms of price and quality. This way you will be able to get better exposure for your business and hence get a wider range of customers.

Starting Your Own Gemstone E-business: Outlook and Scope

While diamonds might prove to be a girl’s best friend, you can also reap rewards by dabbling into the gemstone business as well. With a number of speculations rising on the feasibility and outlook of starting your own gemstone e-business, it is essential to address the prospective long-term goals beforehand.

This will not only make your decision resolute but shall also help you take better steps in starting your own gemstone e-business. With enough skill and expertise, you will be able to identify dealers with quality products and even find high-end buyers for the same. Since you are the broker in the proceedings, you will profit from both the purchase of gemstones as well as the sale.

All of this can be achieved from infrastructure set up in the comfort of your home. You can jump into profits without much of an initial investment. If you are smart enough, you will never need to invest any capital in the buying or the selling business, you will be able to earn profits by merely correlating the relationship with the prospective buyer and the seller.

The resulting potential of this venture is what makes it such an advantageous one. This enterprise has the potential to cross-national barriers and eventually turn into an international venture if every aspect is handled correctly.

First Steps in Starting Your Own Gemstone E-Business

Much of your initial capital and efforts will be analyzing your knowledge. Having a prior knowledge of gemstones can save a lot of effort, but it is always advised to brush up on the knowledge. The next step is advertising your business and drawing out potential customers for investment and sale alike.

You will also need to invest in infrastructural facilities like a fast and reliable computer and a high-speed internet service. Eventually, once you have sourced your material, you will need to create a website to create and maintain a potential client base. With growing sales, you will need to review your finances and consider expansion into other realms.

You need to target international, tech-savvy customers who are either looking for gemstones for personal consumption or to sell it for professional reasons. It becomes your primary responsibility to ensure customer satisfaction.

Seamless transactions will have to be the core mantra in starting your own gemstone e-business. Investing in social networking websites to connect better with your customers is another premise to consider.

Tips to Help Maximize Your Web Presence While Starting Your Own Gemstone E-business

Given that starting your own gemstone business is no walk in the park, there are certain steps one needs to take before they can expect their business to be a roaring success. Online retailing is entirely different from its organic counterpart. It therefore needs to be handled differently to be able to see the light of day.

Online marketing is attaining its height and every home business is vying for the top spot. In lieu of this cutthroat competition, one needs to be prepared in every sense of the word. Here are some tips to help you in starting your own gemstone e-business.

1. Do Your Homework: Setting up an online jewelry endeavor is incomplete with prior knowledge of gems, stones, metals etc. With that aside, there are a number of things that also need equal attention. Firstly, you need to come up with a catchy name for your business and eventually get it registered with your regional chamber of commerce.

You need to understand the implications of sales tax and therefore should take ample measures to make sure that you are never at fault with timely tax payments. For any query regarding the setting up of taxes on your local gemstones business, you can contact your trusted business advisor to come to your aid.

2. Set up Clear Policies: When it comes to starting your own gemstones e-business, you need to give store policies a great deal of thought. Such policies will define the user experience and when treated with care can attract more customers to your venture. These policies include setting up returns, delivery, deposits and appropriate payments types.

If you find the prospect of developing store policies from scratch daunting, then you can look at other online store policies for reference. This will help you get a leg up from your competition, as you will be able to delineate what policies you would like to include and which ones you can successfully do away with. Analyze your findings according to the business model you are willing to set up. You should keep enough room in your policy designing to include future amendments and expansions.

3. Use Good Pictures: When setting up an online store for jewelry, one cannot emphasize on the importance of pictures enough. They not only draw customers to the product but also boost its chances of being shared on a social networking platform. This makes it an extremely important factor in boosting sales.

Thus, you need to get good and high-quality pictures. These pictures should not be of low resolutions, grainy or underlit. If the customer cannot see the expected degree of detail, then he cannot put enough faith or interest into your brand or the products that you have to offer. It also gives off the image that you are not taking your venture seriously.

4. Product Descriptions are important: While a picture may relate a thousand words, a well-written description can add to the product image. Often even with the great degree of detail, photographs of your products cannot answer the basic queries. Customers might want to know what the cut, color, weight and clarity of the said gemstone is.

If such information is mentioned cleanly in descriptions in an attractive way, it will push customers that much closer to purchasing the gemstone. This is also a great way to include search engine optimization techniques into your website. Including search-worthy keywords in your description will return more customers to your website, every time they run a search on a search engine.

5. Provide Strong Customer Support: you cannot hope to just set up a website and leave the rest to chance. While the internet proves to be an excellent mediator, often customers need additional help in purchasing products. These queries pertain to product delivery, payments, returns and replacements that need prompt addressing.

To that end, just having a support forum is not enough. Hiring a constantly available customer backend service will inadvertently draw more customers. With more customer satisfaction, you can expect resale and peer promotion in vogue.

Besides, having a live customer support desk opens pathways for better interaction and generates precious feedback. Having an efficient support staff might seem like a heavy investment at the start, but it is sure to pay off in the future.

Starting your own Gemstone e-business: Investing in the Right E-Commerce Platform 

The era of organic shopping is now out to die. Online shopping sites are growing in popularity. Therefore, it will be a folly not to reap the rewards of this phase. A decade ago, setting starting your own gemstone e-business was unthinkable mostly because setting up the website itself was such a task.

This was hardly cost-effective and left plenty of loopholes in design. Because of this, customers were mostly unsatisfied of their transactions. Thanks to modern e-commerce designing platforms like Magento and Shopify, designing a website for your e-business is now easy. With a flurry of features being offered by both, how can the inexperienced proprietor select what is best for him?

The first thing to look at here is the pricing. A number of e-commerce designing websites are offering their interactive services for a small fee. Magento charges a monthly subscription of $80. This is extremely affordable for startup businesses as it gives them the self-reflexive nature that they crave for. The next thing to consider is the features.

You need to opt for an e-commerce platform, which gives out the most user-friendly and effective features. To that end, Magento’s features hardly need expert knowledge. Developers find working on magento’s platform much easier than any other does. With a host of extensions, you can change the entire look and feel of your gemstone website.

When it comes to starting your own gemstone e-business, you need a platform that does your bidding without much effort. Magento Go is one such platform that offers a host of user-friendly extensions like accidental cart recovery, flat rate shipping, flexible payment options and live chat with customers.

Most of these extensions are built into the system and can be invoked by a non-technical person as well. This means that you do not have to hire a developer every time you need to tweak your website.

How Much do Gem Dealers Make?

The average gemologist’s salary is $50,462 a year, according to PayScale.

Gemstone dealers and jewelers typically make between $30,000 to $70,000 a year. Of course, this entirely depends on the scope of a dealer’s collection and who they typically work with. For example, gem dealers who sell extremely rare gemstones can make a lot of money.

However, buying rare gems requires large investment capital to get started and the sales might not be as often. Then there are specialized gem dealers who sell exotic or exclusive gemstones. If you’re in the diamond trade, you can depend on consistent sales because diamonds are one of the most popular gemstones available.

As you can see, the salary will vary depending on what type of gemstones you sell. There really are no limits to how many varieties of gems you can work with, which makes it an exciting career choice!

Here’s a salary breakdown for gemologists:

• Entry-level gemologists typically make $40,000 a year
• Gemologists with 5-9 years of experience make around $50,000 a year
• Expert gemologists with 10-19 years of experience make 58,000 a year

Is Gem Cutting Profitable?

Very few cutters can produce more than a dozen stones a week. However, you don’t need to cut a lot of gemstones per week to make a good living faceting, as long as what you’re cutting is good quality and worth cutting in the first place.

Let’s assume you can cut five stones a week, nice material worth cutting like quartz, tourmaline, and garnet. As finished stones from one to six carats in weight, these can sell from $150 to $500 each. In my experience, this material and range seem ideal. At the low end, in a week, you have five stones to sell for $750 gross.

If you only net half (and you’ll likely net more), you make $375. Of course, this doesn’t count any wear and tear on your laps and other costs, but it’s not too bad. You could also gross $2,500 a week, maybe more, depending on what you cut. Most likely, you’ll fall somewhere in the middle.

How do Buying And Selling Gemstones Make Money?

Whether you are looking to earn a little extra income in your spare time or perhaps looking to replace your day job with a full-time venture, you might consider buying and selling jewelry and gemstones. The Internet has made this possible in a way that was never available to previous generations, and now people can create wealth out of other people’s unwanted jewelry.

If this sounds like something you want to do, keep reading to learn how you can make money by buying gemstones and jewelry online, then selling them for a profit.

If you own loose gemstones, they are likely collecting dust in the back of your jewelry box. Whether you have a small diamond or a large sapphire, you can turn those loose gemstones into additional pocket change.

A gemstone’s true value depends on the type of stone, the size, and the quality of the gem. Owners of loose gems have a myriad of resources for selling the stones either face to face with a local buyer or online.

Locate a gemstone appraiser or a graduate gemologist and ask them to perform a formal appraisal of your gemstones. Query the American Society of Appraisers website to identify an accredited appraiser in your area.

A graduate gemologist at a local jewelry store is also capable of providing gemstone appraisals. Once you obtain a professional appraisal, you will be able to sell your gemstones to a buyer for an appropriate price.

Decide on your sales method for the gemstones. Options for gemstones include selling to a local jewelry store or broker, placing an ad in the newspaper or on an advertising site like craigslist.com, or listing the stones on an online auction site like Ebay.com or Overstock.com.

Make an appointment with a local jewelry store that is willing to purchase loose stones and ask them to review your gems. If you do not wish to sell your gemstones to a jeweler, take high-quality photos of the stones from several directions and upload the photos to an online auction site or an advertisement site.

Provide a copy of the appraisal information to your prospective customers so that they can review all of the information that is available about the gemstones.

Complete the sale by delivering your gemstones to the local jeweler or shipping the stones to your online customer and accepting their payment. Ensure the package if you ship the stones so that you can recoup the money if the gemstones are lost in transit.

Gemstone Business Plan Sample

When you start a gemstone business you will only be successful if you can overcome the high start-up costs and yield a good profit.

If you are interested in starting a gemstone business, there are a few simple steps you need to follow.

1. You need to have patience, time, and money you can invest.
2. Choose the type of gemstones you want to sell
3. Find quality cutters
4. Determine your audience

You cannot grow or make gemstones which means you have to pay for cut gemstones or rough gemstones. This cost can become very high depending on the type of gemstone you are buying. The most expensive are typically diamonds and sapphires while topaz, tanzanite, and aquamarines are cheaper.

Finding Gemstones

• You can travel directly to mining sites in areas such as Myanmar, Sri Lanka, or Madagascar to reduce your costs. If you travel, you should have a good eye for quality stones or bring someone who does so that you do not overpay for bad gemstones. The more third and fourth parties you have involved in your transactions, the more you will pay for the gemstones.
• You can visit trade shows such as the Tuscan Gem and Mineral Show.

When you look for investors, you can use Faceters.com. This company understands that success will not occur within a few months or years. If you want to succeed in the gemstone business you must gain a reputation with:

I.            Patience

II.            Contracts

III.            Experience

When you select the type of gemstones you are selling, this is often based upon the amount of money you have to start up initially. The more you have the higher quality stones you can sell.

You should also consider the condition in which you want to sell your gemstones.

You can purchase rough gemstones from places like Madagascar and then sell them at a premium in the United States. Another example is to buy uncut gemstones, use the services of a gemstone cutter, cut the rough gemstones into jewelry pieces, and sell them to jewelry stores.

When you sell retail gemstones you have the potential to make the most money, but you have to invest more at the beginning because you will need machinery and a professional cutter. You should know that these gemstones might not sell as quickly.

All of the gems you sell will need certification from the Gemology Institute of America or another outside party.

The cut of the gemstones can add or subtract hundreds from the price tag which is why finding a quality cutter is so important.

Determining your audience means meeting their needs. Any retailer will need a certification but the sales pitch you use will be different for larger companies versus someone looking for an engagement ring.

How to Start Gemstone Business in Nigeria

Begin as a side interest

Bear in mind that you will make errors as most first time purchasers do, until you discover your specialty in this viable business sector.

Start small, test different ideas and do a market research for your chosen niche.

Always request for feedback, especially from your clients, they will be more honest.

When you have a vast array of stones, you can likewise do in store promotions with percentage of turn over to shop as commission.

Be excited about your products.

This will attract people to buy from you.

You have to give your time

This also includes persistence and the most important put in a lot cash.

Gemstones are costly, the diamonds and sapphires are the priciest stones.

Have Good Knowledge of the Mining destinations

In purchasing gemstone, you can straightforwardly visit mining destinations where you can purchase distinctive gemstones at a lower cost.

Work with Experts in the Field

You’ll need to come along with an experienced hand, so as to get value for your money.

There are public expos and online stores that offer the things.

Be Exact about Your Specific Products

Then again, before you buy gemstones, you ought to choose what sort of stone you want to sell.

Similarly, you have to decide whether you will offer the gemstones in retail or wholesale.

Employ the Services Of A Gem Stone Cutter

You’ll need to employ the services of a gemstone cutter if you want to retail.

In addition, you can likewise purchase cut gemstones and make them into jewelry.

The advantage of selling in retail market is that you can increase your profits.

Take into cognizance though that your start-up capital will be more.

Since you will have to employ a jewelry cutter and buy cutting tools and machinery.

Make a point to purchase gemstones that are guaranteed by Nigeria Geological Institute.

If you decide to sell cut stones, it is required that you contract a proficient gemstone cutter.

The cutting of the stones can likewise add thousands of dollars to the real cost.

In addition, the cost will be sliced down if the cut is bad.

According to specialists, you have to give careful consideration in cutting light-hued stones like pink sapphires and diamonds as compared with darker gemstones.

This implies the cost of the gemstone or the ornament relies on upon how it is cut.

The amount of knowledge you have on stone cut is proportional to your profits.

You will need to identify your target market.

You can sell your stones on the web or to top-of-the-line retailers.

Similarly, investors can likewise be your customers particularly those searching for collector items.

Locating your target market will help you tailor your services for them.

Be aware of and Follow market trends.

This will keep you competitive.

You should also consider selling online, as it will expose your business to the world.

How to Start an Online Gemstone Business

Beginning a business to offer gemstones is not that simple. You have to commit your time, and the most vital is to put an enormous measure of cash. Gemstones are costly, the precious stones and sapphires are the priciest stones. In purchasing gemstones, you can straightforwardly visit mining paces where you can purchase distinctive gemstones at a lower cost.

Notwithstanding, you have to bring along somebody who knows how to distinguish gemstones so you can get the stones that value your cash. There are trade fairs shows and online stores that offer things. All things considered, the expense of transportation and transaction will be added to the first value that would make it higher.

If you will offer cut stones, it is obliged that you contract a skilled gemstone cutter. The cut of the stone can likewise add a great many dollars to the real cost. Overall, the cost will be cut down if the cut is bad.

As indicated by specialists, you have to give careful consideration to cutting light-shaded stones like pink sapphires and jewels as contrasted with darker gemstones. This implies that the cost of the gemstone or the adornments relies on how it is cut. That is the reason fitting information on cutting the stones assumes a vital part in the benefits you will pick up.

Then again, before you buy gemstones, you ought to choose what sort of stone you need to offer. Moreover, you have to figure out whether you will offer the gemstones in retail advertise or in wholesale.

If you need to put resources into the retail advertisement, you will utilize a gemstone cutter to cut the stones. Also, you can additionally purchase cut gemstones and make them into adornments. The great thing about offering in the retail market is that you can pick up higher benefits.

Evaluating The Photograph Art

Indeed, extraordinary photographs are fundamental to any system for offering gems on the web. You can adapt through a lot of experimentation how to capture adornments and get proficient-looking results.

It’s really not that hard if you have the right supplies and invest sooner or later trying different things with it. At that point record the settings, lighting, and so on that provided for you the best comes about so you don’t need to re-concoct the wheel each time you have to capture adornments.

You can get some flawlessly aesthetic adornments photographs with a flatbed scanner, and it’s a fast and basic approach to get extraordinary shots for your business, limited time writing, closeout postings, and so forth.

Figuring Out How To Build A Jewelry Website

Clients and shop managers expected that since I was good to go, I would have a website. So I figured out how to manufacture and promote a gems site.

Furthermore, most particularly, don’t utilize any foundation pictures. They make it hard to see photographs and read the content. Simply a plain platform is best for your visitors!

Utilize loads of photographs of your adornments if you need to offer them from your website. You’ll require huge close-up shots, and perhaps a few shots of the same piece to show distinctive subtle elements. Individuals won’t purchase gems online without enormous, convincing photographs.

They additionally don’t stay on a website if the first page they arrive on reveals to them only a screen loaded with content. Make sure the top a large portion of each page of your site (particularly the landing page) has one or additionally enticing photographs of your gems!

Organize to buy your pearls and stones through a merchant. However, if you live in a region that is known for a particular stone, for example, Amber, you can buy your stones mainly and afterward clean and set them as you like. If you need to deal in nonlocal stones, find a merchant and contact them about acquiring their stones and diamonds for resale.

Lease or buy your retail outlet, if you aim to have a store. When you have your street number, you can seek a business permit from your city or area, if fundamental, and also a Tax Identification Number (TIN) from the Internal Revenue Service.

If you plan to begin your business from home, whether online or working at fairs and celebrations, your street number is your personal residence. We know everyone wants to know that how to make a customer base.

We will suggest you start with online retail platforms like Amazon, Etsy, eBay, and other local websites that will get you instant sales and boost your confidence. You can go to other competitors’ profiles to check how they are doing and this will guide you.

Best Packaging And Transportation Materials

Buy your packaging and transportation materials. Jewels need to be decently ensured, so obtaining little, cushioned boxes for each one stone or set of stones is fundamental. Furthermore, you will need to mail your stones in cushioned envelopes or little boxes if delivered to different spots. Configuration marks to put on the cases so your clients know how to contact you for an alternate request if need be.

Promote Your Business

Market your business by going to nearby occasions and setting up a website whether you mean to offer online or not. Handouts that detail what kind of stones you deal in and in addition different services you offer are useful for distributing to potential clients.

If you have a retail store, make a point to hold a terrific opening occasion and offer diverse sorts of occasions during the time to empower post business, for example, pearl cleaning or an informational seminar.

More Recommendations On Starting An Online Business:

Make designs that are distinctive as well as high-quality. The net is chock filled with online selling individuals. You have to differentiate yourself.

Carry specific, interesting clicks of your respective bracelets. This is essential since individuals can’t in the physical form get these bracelets so the photo must tell this history. If you’re able to find a local photography individual that you will find cheapest, as well a when you can have the funds for that, seek the services of an expert.

How to Start a Gemstone Business in Kenya

Do your own market research and rank your expertise, marketing and creative skills and do a cash flow projection. Budget for positive cash flow in 6 months as start up time can take longer than anticipated. But if it was so easy everyone would do it.

To create a business that is enjoyable and has a fun lifestyle is what many people desire. It’s not a job but a lifestyle full of anticipation of what gems will be in the next parcel. We have many buyers who started a part time gemstone business and now operate successful large scale businesses.

Having a wide range of gemstones is essential. Especially if targeting Birthstone gemstones or jewelry. If you have an artistic eye you can buy gemstone beads and make a creative one-off designer beads that are popular. Having a silver ring or pendant casting so that buyers can add the gemstone of their choice is also popular.

The easiest way to build confidence with your target market is to have a large selection of certified gemstones. These gemstones will be tested by a gem testing laboratory like the GIA and come with a certificate. This will help buyers to make a decision as they will build trust with you.

How to Start Gem Business in Sri Lanka

Sri Lanka is blessed with over 70 varieties of colored stones out of the 200 found in the world and is among the five most important gem-bearing nations. The country’s breath-taking natural heritage comprises of varieties of gem minerals, which includes Blue, Pink, Yellow and Golden Sapphires, Rubies, Padmaradchas, Star Sapphires, Star Rubies, Alexandrite, Cat’s F, Spinel, Aquamarines, Topaz, Zircons, Garnets, Tourmalines, Moonstones, Quartz and a large number of rare gemstones.

Sri Lankan Gem Suppliers & Dealers take immense pride in the fact that Sri Lanka is the world’s choice for calibrated and fancy cut gemstones, high-value single stones, and quality service cutting.

Amongst the outstanding gemstones that Sri Lanka has produced in the contemporary era are the Blue Giant of the Orient (466 cts), Logan Blue Sapphire (423 cts), Blue Belle of Asia (400 cts), Rossar Reeves Star Ruby (138.7 cts), Star of Lanka (393 cts. Star Sapphire) and Ray of Treasure (105 cts. Cat’s Eye). The first three gemstones are on display at the Smithsonian Institute in Washington DC, USA.

The Blue Sapphire or Ceylon Sapphire is Sri Lanka’s gem supreme, the origin of a 30 year fashion trend. The author Richard Hughes describes it thus the color of certain Ceylon blues has an ocular attack unlike any other in the sapphire world. It slashes the eye like a razor. Such stones have that which makes electric blue “electric, and in the Island of Gems are often compared to the blue portion of a peacock’s feather”.

Sri Lanka’s Gem Industry consists of free size and investment gemstones, calibrated gemstones, rare gemstones, and gem cutting services. The abundance of gemstones is mined in Sri Lanka or imported freely into the country.

International standards lapidaries coupled with a skilled workforce adds lustre to Sri Lanka’s coloured gemstones making it the better alternative for calibrated and fancy cut gemstones, high-value single stones and quality service cutting.

If you are interested in starting a gemstone business in Sri Lanka, there are a few simple steps you need to follow.

1. You need to have patience, time, and money you can invest.
2. Choose the type of gemstones you want to sell
3. Find quality cutters
4. Determine your audience

You cannot grow or make gemstones which means you have to pay for cut gemstones or rough gemstones. This cost can become very high depending on the type of gemstone you are buying. The most expensive are typically diamonds and sapphires while topaz, tanzanite, and aquamarines are cheaper.

How to Become a Gem Dealer

If you don’t have unlimited capital and you want to work with gemstones, becoming a dealer is the risk-free way to go. Gemstone dealers do not buy and sell gemstones; they simply set up sales between gemstone sellers and potential gemstone buyers.

Gemstone dealers make money by charging commissions from the buyers and sellers that they matched up. The best gemstone dealers can also evaluate and vouch for the value of the stones that they are selling.

• If you don’t have unlimited capital and you want to work with gemstones, becoming a dealer is the risk-free way to go.
• The best gemstone dealer can also evaluate and vouch for the value of the stones that they are selling.

Earn the Certified Gemologist Appraiser (CGA) title awarded by the American Gem Society. Check their website for information on how to receive this certification. It will involve advanced training and lots of experience with gemstones.

With a CGA title, you will have to work for American Gem Society firms, such as jewelry manufacturers and retail stores to keep your certification. You will also need to recertify annually.

Find contacts online. Try using social media sites such as Twitter and Facebook to connect with potential gemstone buyers and sellers. You need to locate entrepreneurs who sell gems. You will then need to connect them to possible buyers.

• Try using social media sites such as Twitter and Facebook to connect with potential gemstone buyers and sellers.
• You need to locate entrepreneurs who sell gems.

Establish reputability by always being honest. This will help you keep clients and they will recommend you to other people that are looking for and selling jewels. Developing a set of references is the best way to get your foot in the door when dealing with gemstones.

Charge commission. You can charge up to 20 percent for gemstones. The higher the cost of the actual stone, the lower the commission, because buyers are already spending large amounts on expensive gemstones and don’t want to pay high commissions too.

Apply for a job in an established jewelers/gemstone firm. If the individual business doesn’t work for you, you can work in a company that already has contacts and marketing taken care of. This will also help you keep your CGA certification.

Gemstone Business License

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

In most states, it is necessary to obtain a seller’s license. Certain state permits and licenses may be needed to operate a gem business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits.

For information about local licenses and permits:

• Check with your town, city or county clerk’s office
• Get assistance from one of the local associations listed in US Small Business Associations directory of local business resources.

Selling Gemstones Online

Today you have many options for selling gemstones online. Probably the most well-known website marketplaces for selling used items are eBay and eBid. With these websites, you are responsible for listing the item, accepting bids, and shipping the item after sale.

Your gemstones will be next to a wide variety of items.  Trust between buyers and sellers is based on reviews: there isn’t anyone confirming that items are what you say they are and so buyers may consider the purchase risky and will pay less.

Unlike the large online marketplaces, specialty websites offer a more curated experience, some with authenticated pieces that are inspected by experts. Sites like Vaunte, TheRealReal, Portero, and TrueFacet sell mostly branded luxury items so they may be a good choice for you if you are selling a David Yurman gemstone ring or a Cartier gemstone necklace. These websites all take a commission based on the final sale price.

When deciding to sell a gemstone online through a specialty website, check customer reviews. Does the company have a physical address? Is there a customer service phone number and do the customer service people know about jewelry?  Can they answer your questions about selling your gemstones? Does the company have a Better Business Bureau (BBB) rating? Do they use an escrow service (such as PayPal) to guarantee the transaction of money?

Is Gemstone Business Profitable?

Precious gemstone businesses can make good money, but it’s critical that you find a niche for your business. Create a unique style of jewelry, offer gemstones not many other businesses have, or select a location or traveling circuit that will allow you to show off your wares to a large audience.

Annually, you can earn anywhere between $30,000-65,000, with more revenue garnered as you gain recognition. If you are able to operate as a wholesaler, your profits may increase. However, a wholesale business will require a larger investment both to create and maintain.  

Starting a Gem Mining Business

Starting a gemstone mining business requires a great deal of effort, dedication, and most importantly passion.

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If you’re interested in how to sell gemstone mining or selling gemstone mining online, you can use this information as a guide for everything you’ll need to know.

Startup Costs

	Min Startup Costs	Max Startup Costs
Website Costs	$13	$215
Other Expenses	$0	$300
Software Expenses	$0	$425
Equipment & Supply Expenses	$566	$6,200
Advertising & Marketing Costs	$75	$9,636
Retail Business Expenses	$1,250	$11,650
Inventory Expenses	$350	$14,750
Total Startup Costs	$2,254	$43,176

Pros & Cons

Pros	Description
Rewarding work	Starting a gemstone mining business can be really rewarding work. After all, you are solving an immediate issue for your customer and you’re working on something you truly care about.
Meaningful business connections	You never know who you will meet as a gemstone mining business. This could be the start of an incredible business opportunity!
Daily physical activity	Gemstone Mining Business’s typically involve a much greater degree of movement than other lines of work. Most days, you will spend your day walking, running errands for your business, and performing a multitude of tasks. This can have a positive impact on energy levels and your overall health.
Amazing perks and discounts	Working in the gemstone mining business comes with its perks! As a seller for these products/services, you typically also get to enjoy industry perks and discounts.
You are your own boss!	With starting a gemstone mining business, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!
Local Community	One of the best parts of starting a gemstone mining business is that you can develop a local following by selling your products at craft shows, farmers’ markets, or even local storefront businesses! This gives you access to additional revenue streams and loyal customers.

Cons	Description
Crowded Space	Competition is high when it comes to your gemstone mining business, so it’s important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Finding The Right Supplier	Most businesses in this space go the supplier/manufacturer route, which isn’t a bad thing! However, finding the right supplier can take a lot of time, energy and trial/error. If done properly, this process can save you months (if not years) of time and energy. More on this below in the “finding a supplier” section.
Motivation of employees	If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It’s important that you’re able to offer great incentives and a good work environment for your employees.
Low margins	The gross margins for your gemstone mining business are typically around 43%, which can make it more challenging to incur new expenses and maintain profitability.
High employee turnover	In the gemstone mining business, employee turnover is often high, which can be quite costly and time consuming for your business. It’s important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
Taxes	As a gemstone mining business, you typically pay self-employment taxes which can be quite high. It’s important to understand what you will be paying in taxes each year so you can determine if the work you’re taking on is worth it.

Conclusion

Starting your own gemstone e-business can be a scary affair if one does not know what to do. Thankfully, this article should be able to point out the possible shortcomings, to help you make your venture a stronger one.