Are you passionate about diamonds? Are you passionate about jewelry? Are you good with your hands? Are you detail oriented? Are you extremely accurate and precise? Do you have keen eyesight? And are you responsible, reliable, and honest?
If you gave affirmative answers to all the questions above, then you can make cool cash by getting your hands dirty with diamonds. That is, you can consider starting a diamond cutting business.
Diamonds are a timeless classic opportunity whose market yields many career and investment opportunities. Starting a diamond cutting business will not only enable you to cut diamonds, but it will also empower you to venture into sales and marketing of diamonds. This is why a diamond cutting and polishing business plan is highly recommended.
Before we discuss the steps involved in starting a diamond cutting business, let’s look at the various roles of a diamond cutter, since it is very important to learn what a business entails before venturing into it.
So, who is a diamond cutter?
A diamond cutter is an individual – an artisan – trained and skilled in cutting rough blocks and stones of diamond into fine, faceted shapes and polishing them into beautiful, sparkling stones. In other words, a diamond cutter enhances the value of diamond stones.
Diamonds are usually cut according to a variety of standard faceted designs, but custom cuts may be required, too. These custom cuts are the most difficult, as working out the measurement of the many faces of their design require a lot of mathematics.
What does a diamond cutter do?
The work of a diamond cutter revolves round three skills: sawing, cutting, and polishing. But more specifically, here are the tasks handled by a diamond cutter:
- Looking into rough diamond and seeing its potential as a cut gem
- Checking for flaws in diamond stones
- Determining the best faceted shape for the diamond
- Accurately sawing and cutting the diamond into shape
- Girdling the diamond (creating a flat surface on a diamond stone by rubbing it against another stone)
- Polishing the diamond
- Determining the final value of diamond using the 4 C’s (color, cut, claroity, and carat size)
With the above in mind, let’s now look at the steps involved in becoming a diamond cutter.
Starting a Diamond Cutting Company – Sample Business Plan Template
1. Assess yourself
Diamond cutting is a highly specialized business that requires a great deal of precision and manual dexterity, excellent concentration for long hours, good vision, and creativity. Without any of these requirements, you won’t make a good diamond cutter.
It is very important to evaluate yourself to determine if you really have all it takes to succeed as a diamond cutter. Only after you deem yourself fit and capable should you proceed to take a plunge.
2. Get certified
Working as a diamond cutter requires training. You will need to enroll for a diamond cutting training program, where you will receive training on diamond grading, cutting and faceting, use of equipment, appraisals, diamond industry terminologies, and so on. You will be awarded a certificate at the end of the program if you are able to cut diamond perfectly and repair damaged diamonds.
Although certification is not necessary to work as a diamond cutter, being certified will give you a competitive edge and will help you earn higher rates than you would without certification. A certificate will also boost your credibility, as potential employers won’t nurse doubts over your expertise.
Aside being a proof of your expertise in diamond cutting, being certified will help you pursue opportunities in wholesale and retail of diamond, rough diamond brokering, and consulting.
3. Get the needed tools
Before you can start working as a diamond cutter, you will need to acquire the tools you will need. These include bruters, cleaving tools, measuring tools, and a heat source. The quality of your work hinges largely on the quality of your equipment, so ensure that your equipment are of very good quality.
4. Start working
Once you have perfected your diamond cutting skills, you can start hunting for opportunities. You can contact individuals and companies dealing with diamonds and ask if there are possible openings that you can fill as a diamond cutter. Provided you offer high quality services that satisfy your clients, you will attract more clients with time, and you will make more money.
How much can you earn as a diamond cutter?
When you are just starting out, you should expect a pay rate of around $10 per hour. But as you gain more experience, your rates will increase. Highly experienced, self-employed diamond cutters typically earn between $40,000 and $60,000 per annum.