Gem cutting studio for jewellers

Jewellery designers and shops, collectors, and people commissioning engagement ring stones or recutting inherited gems.

Fees per stone for custom cutting and recutting, sales of finished gems, and optional workshop or class fees.

• Faceting and polishing technique
• Gem identification
• Quoting and managing commissions
• Building relationships with jewellers

• Check zoning and commercial lease terms for a workshop with water, dust and machinery
• Commercial general liability insurance, plus cover for customers' stones held on your premises
• Silica dust and workplace safety, and WCB/WSIB coverage if you hire (rules vary by province)
• Rough and equipment costs can be high, so avoid tying up cash in unsold stock
• Check GST/HST registration and any provincial rules for your business structure

Startup costs are estimates, typically around $8,000 to $35,000, depending on faceting and cabbing machines, polishing stations, rented premises, insurance and any rough stock. Avoid tying up cash in unsold stones, as rough and equipment costs can be high.

Check zoning and commercial lease terms for a workshop with water, dust and machinery. Also check insurance that covers customers' stones on your premises, silica dust and workplace safety, WCB/WSIB coverage if you hire, and GST/HST registration.

Monthly revenue is typically estimated at around $1,500 to $7,000, depending on how many jewellers and private clients you serve, the commissions you take and whether you add classes. The estimate assumes at least about 20 hours a week.