Business Overview

Owning a business selling precious gemstones can be a lucrative and rewarding career, especially for those who are interested and enamored by nature’s beauty.

Who is this business right for?

Selling gemstones requires a general knowledge of the different types of gems, the criteria used to judge their quality, and experience assisting customers. While your knowledge and expertise with regard to the gemstones is important, you can build this over time and still remaining successful. The biggest part of your success, from the beginning, will depend on your interactions with customers and other gem dealers. An ability to build personal relationships and provide customer service will be key to creating and continuing a career in precious gem sales.

What happens during a typical day at a gem sales business?

The daily activities for a gem sales business will mainly consist of buying, selling, or trading gemstones. If you are operating a retail shop, you will conduct more face to face customer service. If you operate as a wholesale business, you’ll create more business relationships with other gem dealers, buyers, and sellers. Either way, bringing more gemstones into your business to sell to customers will be the main function of your business.

Additionally, you will be:

  • Interacting directly with gem wholesalers or mines
  • Advertising and marketing your products and services
  • Organizing, attending, or inquiring about gemstone trade shows
  • Consulting with customers and fulfilling custom orders (if your business offers this)

What is the target market?

Your target market will mainly be 20-45 year olds who appreciate natural beauty and unique jewelry creations. Gemstones are popular, simply as stand alone decorations, too.

How does a gem sales business make money?

Gem sales businesses make money from the sales of the precious gemstones they have available and/or through special or custom jewelry orders.

What is the growth potential for a gem sales business?

Precious gem dealers and retailers consistently make money, as there are large numbers of people looking for new and unique stone and jewelry options. Now, more than ever, the traditional jewelry business is seeing greater competition from cottage industry jewelers. Small business jewelry makers and gemstone sellers are finding a niche in the jewelry and fashion industries as unique, one of a kind, decorative gem designers. Accordingly, there is more demand and profit available for those wishing to make their living buying and selling a piece of Earth’s natural beauty.