Getting started in the Diamond Business

How do I get Started a Real Diamond Business

Searching for new career opportunities?

Your first step would be to enroll in a Rough Diamond Grading and Evaluation Course with Corlia Roberts Institute of Diamonds.

Why the Diamond Industry?

Currently, one of the most Profitable Business Opportunities in 2021, are you seeking interesting and promising opportunities to launch a new startup and work for yourself. With a wide range of industries, the choice is limitless, but the question remains: which industry is the best in terms of offering profitable and favorable conditions?

The diamond industry has always been favored by admirers, as diamond gemstones are known for their value and high demand. The diamond business has existed for centuries due to the fact that these gems don’t decline in value, and therefore promise great returns to those involved in the industry.

Supply and demand is an economic model of price determination in a market, If supply increases and demand remains unchanged, then it leads to lower equilibrium price and higher quantity. If supply decreases and demand remains unchanged, then it leads to higher equilibrium price and lower quantity., the value of diamonds depends upon their supply. Considering the fact that the supply of diamonds isn’t very high due to their rarity, their value is always significant.

Starting a Diamond Business From Scratch

Starting a diamond business or getting into the Jewellery business can seem complicated at the beginning, especially for novices in the industry. However, it is not as difficult as it may appear at first. For a beginner, the best way to start this business is to precisely evaluate all possible conditions, prices, and, of course, personal capabilities.

“You need to have interest in the industry, take a basic course to gain the knowledge and skills needed” Corlia Roberts

It is recommended to start small, investing small to see how your strategy works out and how the business proceeds.

Become acquainted with the market situation, price conditions, and information about supply and demand in crucial areas. Thus, if your region does not provide any opportunities for purchasing fancy colored diamonds, and you know people interested in them, why not offer the community the opportunity? The demand is obvious. On the other hand, if your region is popular for diamond mining or cutting, then you’ll probably face a great deal of competition.

There is always an incentive mechanism to strive for the achievement of your goals, and a compelling story of “how I do this” behind the scenes. Before considering the basic options to start with, let’s see how “unreal” things can come true with a step-by-step action plan.

  • Become a manufacturer. With the required skills, desire, and effort, you can start as a manufacturer in the diamond industry even without high-quality technology. You can purchase rough, uncut gemstones at a lower price and sell them at a higher price after polishing them up.
  • Become a trader/reseller. In this case, it is better to choose the lower-price gemstone market and focus on one concrete area. Selling retail gemstones, you have a better potential for earning. Keep in mind, though, that the professional services of cutters will be required. In addition, it might take some time to establish the trading process.
  • Become a broker. As long as you know many people interested in purchasing gemstones, you can build up their trust and your audience, sell gemstones, and gain a profit from the percentage. This does not oblige you to have startup capital, as it does not require much in terms of expenses.

Here are some easy steps to follow when starting your diamond business:

  1. Be patient, contribute your time and effort, and have a certain amount of capital to start with.
  2. Decide what type of diamonds/gemstones you would like to trade.
  3. Establish connections: find experienced cutters and industry professionals.
  4. Build up your client base.

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