All the beautiful jewelry you buy and wear for fashion was made using gemstones. These are precious stones, and there are over 100 of them. Some popular gemstones include diamond, ruby, sapphire, emerald, amber, pearl, onyx, moonstone, etc.
You should know how expensive jewelry made with these gemstones is. Which means you can make more money by selling them. Take diamonds, for instance; 1 carat of diamonds can be sold for up to $15,000 depending on certain factors. If you’re interested, here’s how to start a gemstone business in Nigeria.
Perform market research.
As with every other business, you have to start with market research. Market research is simpler than diving into the statistics and insights of the Nigerian gemstone market.
As mentioned earlier, there are over 100 gemstones available; you surely aren’t going to sell all of them.
From your market research, you will identify which gemstones are the most sought after in the market and those that bring in the most profit. This will depend on what part of Nigeria you are in.
Your market research will also help you understand the top suppliers in the market and where your target audience in Nigeria is.
Source gemstones are at low prices.
A lot of gemstones are found in Nigeria, including popular ones like diamonds and emeralds. Emerald is found in large quantities in Nasarawa and Kaduna states, while diamond deposits have been found in Katsina states.
Several other gemstones are being mined in different parts of the country. As a result, it won’t be too difficult to source them.
However, it’s not just about sourcing them. In business, profit is the main objective. Therefore, you should aim to source them at affordable prices.
From your market research, you should be able to identify suppliers that (or states where) sell gemstones at the lowest prices. Typically, the price of a gemstone will be cheaper in a region where its supply is on the high side.
Get your customers ready.
Before you start selling, you should make sure your customers are ready to purchase. This involves sensitizing them to your gemstone business.
We live in an internet world, and it’s easier now than ever to get your business noticed. You publish posts on your social media platforms, run ads on top websites, etc.
If you’re advertising, especially on social media, ensure your target audience is set to the regions in Nigeria where your prospective customers are.
Once people start showing interest and you’re getting inquiries on your prices, delivery, etc, the business has started.
At this point, you can start selling. You can choose to sell your gemstones raw, or you make jewelry and other adornments with them. Whatever way your customers want them.
Popular Gemstones In Nigeria
Here are some of the most popular gemstones in Nigeria:
Corundum is a mineral found in sedimentary, metamorphic, and igneous rocks. The mineral is well-known for how hard it is and for the beautiful clear crystals of many different colors that can sometimes be found in it.
Because it is tough, hard, and chemically stable, both natural and man-made corundum are utilized in different industrial applications. It’s used in the production of Industrial bearings, windows that don’t get scratched on electronic devices, wafers for circuit boards, and a lot of other things.
Beryl is a beautiful and well-known mineral. It comes in a lot of different colors and has a few important gemstone types. Emerald, which is green, is one of the most valuable gems.
Aquamarine is another important gemstone. It is a type of Beryl that is greenish blue to blue. When green Beryl from certain places is heated, it changes into sky-blue Aquamarine. Beryl also comes in gems like Morganite, which is pink, and Heliodor and Golden Beryl, which are both yellow.
Beryl by itself has no color. But a wide range of impurities is to blame for the many different colors and types. Most of the time, chromium is what gives Emerald its green color, and iron is what gives Aquamarine its blue color.
Quartz is the most common mineral on Earth’s surface and can be found almost everywhere. It can be found and has plenty of it all over the world. At any temperature, it forms. It has a lot of sedimentary, metamorphic, and igneous rocks. It can stand up to both physical and chemical weathering very well.
Because it lasts so long, it is the most common mineral on mountaintops and the main part of sand on beaches, rivers, and deserts. Deposits that can be mined can be found all over the world, and many are in Nigeria.
Garnet doesn’t refer to one mineral; it is the name for a group of minerals that are very similar to each other. Garnets come in a lot of different colors and are made in a lot of different ways. But the dark red color of Garnet gemstones is the one that most people know.
When the word “Garnet” is used, people usually think of the dark red variety. Other colors of Garnet are usually referred to by more specific gemstone names.
It’s one thing to start a gemstone business, and it’s another to keep your business going. It’s important to be watchful because there are so many fake and counterfeit gemstones out there. You should only source from credible suppliers. Finally, ensure you deliver goods to your customers on time.