How to start Gemstone Business in Nigeria

Gemstone Business:I will be talking to you today on the Most Effective Method to Begin Gemstone Business in Nigeria.

In essence, what we shall be looking at today is how to start Gemstone Business in Nigeria.

Gemstone business is a beneficial business in view of its incentive in the market.

Nevertheless, you have to provide a wide array of gemstones.

In spite of low supply of gemstones, you can still make good profit.

However beginning a business to sell gemstones is not that simple.

There is no questioning; the solid mineral industry presents one of the best alternatives for the enhancement of Nigeria’s economy.

This is due to the vast stores of solid minerals that have been found in the nation.

Around 35 minerals have so far been found in commercial quantities in the nation.

Nigeria is additionally blessed with various sorts of gemstones like topaz, tourmaline, sapphire, scattered in various parts of the nation.

A gemstone or pearl (likewise called a valuable or semi-valuable stone, or gem) is a bit of alluring mineral. When it is cut and polished, it can be used to make ornaments and other beautiful objects.

Read also: Top 21 Generator Business Tips in Nigeria

Gemstone Business

source: https://www.theconjuredsaint.com gemstone-success-business

Gemstone Business

What are Gemstones?

Most gemstones are hard, yet some soft minerals are utilized as a part of adornments.

Usually because of their radiance or other physical properties that are appealing to the eyes.

Irregularity is another trademark that adds value to a gemstone.

Precious stones such as Gemstones are typically esteemed in view of the quality and not quantity.

The quality is guided by 4Cs namely Colour, Cut, Carat Weight and Clarity.

Read also: 18 Tips to Influence & Win Customers in Nigeria

Gemstone Business

Characteristics of Gemstones

Colour: Colour is normally the most important value- setting component for gemstones.

All precious stones have a favoured shading or a generally little range of favoured hues.

The more the shading deviates from this range — lighter or darker, clearer or less — the less valuable the stone. Colour is made out of three measurements: hue, tone, and saturation.

Hue has to do with the impression of shading normally seen promptly, for example, red, yellow or blue.

Tone has to do with the level of clarity or dimness of an object.

Saturation characterizes the level of immaculateness of a hue.

Cut: Cut has to do with the shape or plan of a stone, arrangement of facets, and additionally the accuracy of the stone’s proportion and finish.

The cutting procedure uncovers the magnificence of a stone.

Gemstones are cut into shapes we know about, for example, oval, emerald, pear, round, and marquise.

What’s more, they can be cut or moulded into any outline possible.

Proportion refers to attraction and balance of the design.

Finish has to do with the detail of the workmanship.

A proportional cut with a fine finish will demonstrate a stone’s optical properties to its fullest potential.

A cut gem will be more valuable when all elements are even (colour, clarity, and carat weight).

See also: Top 26 Janitorial Business Tips in Nigeria

Gemstone Business

The Most Effective Method to Start a Gemstone Business

Having an extensive variety of gemstones is fundamental.

Particularly if focusing on Birthstone gemstones or jewellery.

In the event that you have an artistic mind you can purchase gemstones and make tweaks out of popular ones.

Having a silver ring or pendant casting with the goal that purchasers can include their preferred gemstone is likewise famous.

It is best that you have a large selection of gemstones.

This will build confidence in your customers.

A jewel testing research centre like the GIA will test these stones and each stone will come with a certificate.

This will build the confidence of your customers in you, enabling them to make purchase choices easily.

Gemstone Business: Step By Step Instructions to Get Buyers

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 lower cost.

Read also: How to Start Frozen Chicken and Turkey Business in Nigeria

Work with Experts in the Field

You’ll need to come along with an experience 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 gem stone cutter if you want to retail.

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

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

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

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

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

Read also: Top 11 Sources of Getting Funding for Business in Nigeria

Gemstone Business

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.

Gemstone Business

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.

See also: Top 14 Jewelry Business Processes In Nigeria

Gemstone Business

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.

Conclusion

The precious stones market in Nigeria, has come to stay.

The market is guaranteed and can take up as much amount as provided by the vendor without having any antagonistic impact on the cost.

Truth be told the more the amount the better your bartering power.

The cost can increase by as much as between 10%-15% when the product is cut.

The business of gemstone export has been going on in Nigeria for a while.

Only a few are benefitting from it because others don’t have the knowledge.

It is another raining season; therefore, gemstones will be readily available.

This is another chance for willing investors to make some money.

Particularly Nigerians living abroad who need to cooperate with us for achievement in the export of the product.

Read also: Top 20 Business Loan Givers in Nigeria

Gemstone Business

If you need a complete business plan, please let us know.

Or, you want us to help you set up this business, kindly contact us. Otherwise, Please check out these other business ideas you can do


Copyright Warning!

We work really hard and put a lot of effort and resources into our content, providing our readers with plagiarism-free articles, original and high-quality texts. Contents on this website may not be copied, republished, reproduced, redistributed either in whole or in part without due permission or acknowledgement. Proper acknowledgement include, but not limited to (a) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes, (b)"FAIR USE" in the case of re-publication on online media. About possible consequences you can read here: What are the consequences of copyright infringement? BusinessHAB.com is a property of GotoSchool Limited and we have all legal actions at our disposal to take within and outside the internet in effort to protect our intellectual properties. All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).

Tags: , , , , , , , , , , , , ,

Comments (2)

Trackback URL | Comments RSS Feed

  1. Ugochukwu says:

    Your advice is cool,but I wish to go into the business of some vein minerals in Nigeria eg tantalite,tin,columbite and many other.
    But I need to learn the trade before going into it,so I’ll need your advice,thanks.

  2. Ngozi A. says:

    I need more help on how to start the Gemstone business here in Nigeria.

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!