Diamond trading business plan

diamond trading business plan

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We are a diamond cutting and polishing company that is set to compete in the highly competitive diamond cutting and polishing services industry not only in New York, but also throughout the United States and the global market. Clement Knox diamonds, llc will offers services such as planning, cleaving or sawing, bruiting, polishing, and final inspection of diamonds. Our business goal is to become one of the leading diamond cutting and polishing companies in the United States and we will make sure that we do all we can to compete favorably with leaders in the industry all over the globe. Our workers are going to be selected from a pool of certified and highly experienced diamond cutting and polishing technicians in and around New York city and also from any part of the United States of America as the business grows. We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading diamond cutting and polishing companies in the United States and throughout the. At Clement Knox diamonds, llc, our clients best interest will always come first, and everything we do will be guided by our values and professional ethics.

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New York city new York is of course the main hub in the United States of America cum North America when it comes to plan diamond cutting and polishing and even diamond trading business. In as much as the market for diamond is growing all over the globe, you must adopt a workable marketing strategy to be able to make good sales and huge profits. You can go into contract agreements with those who mine diamond or those who are into trading diamond. As simple as it sounds, if you dont carry out a proper research before venturing into this type of business, you might end up losing your investment. It is imperative that you conduct a research so that you are be able to know what is required in the market, how to source for raw diamonds, where to get the right kind of staffs, and loads of other information that will be useful. Over and above, the diamond cutting and polishing industry is very open to any aspiring entrepreneur who have acquired the required trainings, skills, tools and perhaps professional certifications to start his or her own diamond cutting and polishing business and of course make good money. Diamond Cutting polishing Business Plan Executive summary. Clement Knox diamonds, llc is. S based and standard diamond cutting and polishing company that will be based in New York city new York. We have been able to secure a standard and well positioned office facility in a central business district in New York city new York.

If you have made up your mind that starting a diamond cutting and london polishing business is the right business for you, then you should consider reading through this business plan that will guide you to successfully launch yours. Business overview, operators in the diamond Cutting and Polishing industry are basically involved in the practice of changing a diamond from a rough stone into a faceted gem. Cutting and polishing diamond requires specialized knowledge, tools, equipment, and of course techniques because of its extreme difficulty. Generally, the diamond cutting and polishing process includes these steps; planning, cleaving or sawing, bruiting, polishing, and final inspection. Diamond cutting and polishing line of business is concentrated in a few cities around the world. Diamond cutting polishing business cum diamond trading business is pretty active in Antwerp, tel aviv, and Dubai from where rough diamonds are sent to the main processing centers of India and China. The major cities of the world where diamonds are cut and polished are surat, India and the Chinese cities of guangzhou and Shenzhen. In recent years, India has held between 19 to 31 percent of the world market in polished diamonds and China has held 17 percent of the world market share in a recent year.

diamond trading business plan

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So lets proceed to statement the business planning section. Why Start a diamond Cutting polishing Business? If you have a penchant for diamond and jewelries, you can indeed make good money if only you can be willing to start your own diamond cutting and polishing business. Diamond cutting and polishing business is one business that is not common in countries with a rich deposit of diamonds, but it has a very high profit margin. People that are involved in the cutting and polishing of diamond would admit that they are making huge returns on their investment. If you intend starting your own diamond cutting and polishing business, then you must take out time to learn the trade because the truth is that it only takes someone who has the technical skills and one who can truly differentiate between various grades and. It is important to state that starting a diamond cutting and polishing business requires a reasonable start up capital, and the ability to network and market high profile clients in the society. Sincerely, diamond is considered to be a luxurious commodity and the people that purchase it are those who are well. That is the reason why you must be prepared to target this class of people if you truly want your diamond cutting and polishing business to succeed.

Past Performance, sales 3,300,000 3,630,000 3,993,000, gross Margin 1,320,000 1,452,000 1,597,200, gross Margin.00.00.00, operating Expenses 900,000 900,000 900,000, inventory turnover.00.00.99, current Assets. Cash 3,080,000 2,752,000 2,287,000, inventory 0 0 600,000, other Current Assets 600,000 200,000 30,000, total Current Assets 3,680,000 2,952,000 2,917,000, long-term Assets, long-term Assets 0. Accumulated Depreciation 0 0 0, total Long-term Assets 0 0 0 Current liabilities Accounts payable 260,000 200,000 120,000 Current Borrowing 0 0 0 Other Current liabilities (interest free) 0 0 0 Total Current liabilities 260,000 200,000 120,000 Long-term liabilities 0 0 0 Total liabilities 260,000. Are you about starting a diamond cutting polishing business? If yes, here is a complete sample diamond cutting polishing business plan template feasibility report you can use for free. Okay, so we have considered all the requirements for starting a diamond cutting polishing business. We also took it further by analyzing and drafting a sample diamond cutting polishing marketing plan template backed up by actionable guerrilla marketing ideas for diamond cutting polishing businesses.

Life In, diamond, trade

diamond trading business plan

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1.1 Objectives, to develop an additional course(s) of action, recommendation, and essay change(s) to rbr's current strategy in order to expand the market share in the loose diamond e-tailing industry. To advise rbr of industry insights and market trends in the diamond business, provide a psychographic study of the current and potential engagement market, and describe the competitive landscape of this business. 1.2 Mission, our mission is to expand our current 2 market share to a greater portion in online diamond retail. When we look at the diamond retailing industry itself, the current 2 is rather low compared to the number of diamonds sold yearly in the United States. In order to meet the growth criteria, rbr must extend its network of jewelers and strengthen alliances with media and Internet vendors, as well as increase its r d effort to deliver the latest technology in e-commerce. 1.3 keys to success, some of the key factors that will help rbr expand its operations include: Extending its network of family jewelers across the. Setting up additional warehouses to meet the needs.

Improving logistic/supply chain that enables fast delivery and return. Repositioning the look of the current website by upgrading graphic elements and state-of-the-art navigation. Setting up alliances with supporting media and the Internet to promote the idea of purchasing loose diamonds online. Adding more product categories into the existing loose diamond category, such as gold settings for pendants, rings, and earrings, and gold trinkets/accessories aimed at younger audience. We recommend using liveplan as the easiest way to create graphs for your own business plan. Create your own business plan.

Learning and gathering information on the Internet is not what the online retailers want. They want the learning and gathering process to translate into sales. However, selling diamonds online is not the same as selling books online. People want to see the actual merchandise before buying. "What happens if the brilliance of the diamond shown on the web is actually lower than in the one i purchased?".

It is the question of how to leverage "high-touch" among the high-end dot-com retailers. While others engaging in low-end jewelry items have been primarily pushing the quantity sold, we struggle to find the right formula to bring these high-end loose diamonds to consumers. Rocks by request (RBR) is the answer to this. Rbr was established in the bay area three years ago, by a third-generation jeweler, rock Stone. After its three-year operation, rbr is planning to expand its operations outside the state of California. The rbr concept is quite simple, leveraging local jewelers as its "front-end." Through this strategy, rbr answers both "credibility" and "high touch" issues in selling its high-end merchandise via the Internet. Rbr is positioning itself differently in the aftermath of the dot-com bust. While maintaining connectivity, interactivity, and speed, rbr will also "humanize" e-commerce by combining both technology and tradition in diamond retail industry. In this strategic plan, we describe how to further optimize the connectivity, interactivity, and speed in developing recommendations for rbr's new business strategy.

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It is not, however, a career for the faint-hearted. "Be ready to supermarket hit a wall warns Dominguez. 'you have to be prepared to leave what you have and give it your full attention - i was working 100 hours a week building up my dealership. It's sheer persistence that can make the difference between success and failure in this business.". Purchasing an engagement ring could be a hassle, especially for those who know little about diamonds. Current studies indicate that there are.7 million engagement rings purchased per year in the United States (74 of brides, from.3 million weddings with an average expenditure of approximately 2,000 per diamond engagement ring. With the revolution in connectivity and interactivity through the Internet, potential buyers can learn more about the characteristics of diamonds they intend to buy before going to jewelers. In this case, we solve that very problem of "knowing so little" about the characteristics of the merchandise. People can now learn and gather information list before they actually going to their family/neighborhood jewelers to purchase diamonds.

diamond trading business plan

I look at thousands of diamonds every year and I'm always seeing new imperfections and characteristics, but the really showy ones i once held a pink 40 carat diamond worth 40m don't do it for. There's so much social status attached to them that they become almost like brands.". Despite the spectacular sums involved, it requires expertise to make riches out of diamonds. "The most expensive stone i ever sold was 5m, but the profit was less than 50,000 he says. "you deal with a lot of big numbers, but there isn't always a very big margin in it and, unlike most businesses where the more you buy the cheaper it gets, it's the opposite with diamonds because there is a finite supply.". Dominguez now sells direct to customers via an online shop and a viewing room in London's covent Garden where customers can view the stock. He recommends that anyone wishing resume to sell diamonds on the high street starts as a dealer in order to build up the vital network of international contacts. Gem-A will help novices with lists of local members whom they can approach to gain experience and contacts.

sector can be incestuous and discriminatory. "It's a high-security industry so if you're new to it you can't just walk in and say you want to buy on credit, you need to earn trust he says. "But you can start with no previous experience in a junior role with a stone dealer or jeweller and gain experience and contacts as you work your way. Or you can do a diploma through our association or our main rival, the gemological Institute of America and start higher up, although experience is the only way of learning this business.". Dominguez reckons the joy of gemstones amply compensates for the toil of acquiring them and it was the hope of discovering something new and remarkable that fuelled him through the slog round global wholesalers. "The excitement is in the uniqueness he says. "you open a parcel and you don't know what you're going to get.

"As a child in Tenerife, i'd be taken to jewellery stores by my mother and I remember admiring the rings that cost as much as a car he says. "I had contacts with jewellers on Tenerife and had examined what they sold and I'd read every book on gemmology i could lay my hands on, but I realised that that was business not enough to become a dealer. The secret is in the buying, not the selling. The price depends on who you are and how much you know and since it's such a competitive market, negotiation skills are essential.". In its nine months of trading, the electronics company had made him 100,000 and Dominguez used this to buy his first diamonds from the obliging Belgian dealer. He had already agreed with the tenerife jewellers that they would purchase a certain quantity from him in return for exclusive deals and, once he had wooed wholesalers in Belgium and India, his business quickly grew. "The secret is persistence and persuasiveness he says. "I would travel to India every month and barter the prices down.

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In ordinary life a customer with ready cash offering to pay a premium for a product would be feted by traders. There is nothing ordinary about the exclusive world of guaranteed diamond trading, however, and when Vashi dominguez took his savings to the dealers of Antwerp, none of them would sell him their stones. "I went to over 100 offices in three months he says. "I couldn't understand why, if I had the money and was prepared to pay any price, they wouldn't sell to me, but it's a very closed industry based on trust and dominated by generations of the same families who want to preserve its culture. They'd ask me if anyone in my family was in diamonds and when I said no they'd show me the door.". Eventually he found a belgian dealer who was unable to resist a cash customer prepared to pay any price to get a foot in the door and this one transaction confirmed him as acceptable in the eyes of the other traders. Dominguez, 34, had abandoned a law degree in 1998 to set up an electronics business before realising that his passion lay in diamonds.

Diamond trading business plan
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  1. So that the local wor kers can absorb the tricks of the trade. Moropa diamond Business Plan-1. Diamonds are a girl s best friend they re also a 41 b illion global business. Though there are a lot of people involved in the diamond trade. Look, diamond industry is not in a very good stead to enter right now, the margins.

  2. Diamond cutting polishing business cum diamond trading business is pretty. Vashi dominguez, diamond trader: The excitement is in the. He had wooed wholesalers in Belgium and India, his business quickly grew. Business Plan on diamond Industry. Antwerp and Tel aviv.

  3. Rocks by request diamond retailer business plan company summary. Director of rbr is a third-generation diamond trader, and has already. Rocks by request diamond retailer business plan executive summary. Rocks by reques t sells retail diamonds and settings with a unique combination of online. If yes, here is a complete sample diamond cutting polishing business plan.

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