The Diamond Business Management and

Marketing Program

Instructor: Mr. Nizam Peters - He offers 28 years of business contacts and insiders information from the manufacturers level to the retail market.

Institute Location:
American Institute of Diamond Cutting, Inc.
1287 East Newport Center Drive #202
Deerfield Beach, FL 33442
Phone: 1-800-831-8470- US
1-954-574-0833- International
Fax: 1-954-574-0833
E-Mail: mailto:diamondcutting@worldnet.att.net

HOME

 The diamond business management and marketing program is held 4 times a year.  Please call the Institute at 954-574-0833 for exact dates.

 Class size is limited to a maximum of 4 students. Applicants are advised to fill out the program application well in advance of proposed class dates.

Who should take this program?

All individuals that are seeking to go into the diamond or jewelry profession. This includes individuals that are looking to become self-employed, set up their own office or store, form a partnership or joint venture.

Serious pitfalls, lost revenues and business failures can be avoided by understanding how the system within the industry functions and where would likely problems occur.

 

This program is designed to greatly increase your chances of success and bring to the forefront practical ideas and plans that when implemented will directly increase profit margins.

The following are some of the areas covered in the Diamond Business Management and Marketing Program:

1. Forming a corporation, creating a partnership or establishing a proprietorship.

  1. Which of the above is best for me and when do I apply it?
  2. Which of the above creates more of a liability?
  3. Which of the above would give me a better tax advantage?

2. How to develop a business plan.

  1. Why do I need a business plan?
  2. How do I set up a simple business plan?
  3. Purpose and strategy of a business plan.

3. What is investment capital?

  1. Is it available and in what amount?
  2. How do I go about obtaining funding for my business?

4. How do I work with my accountant to give me the best possible tax savings?

  1. Choosing an accountant.
  2. What can I discuss with my accountant?
  3. What exposure of liability do I have with my accountant?

5. Aspects of the retail market.

  1. How does it operate and function.
  2. What is the markup (price structure)?
  3. Where does the retail market buy its inventory?
  4. How does the retail market sell?

6. Aspects of the wholesale market.

  1. How does it operate and function.
  2. What is the markup from the manufactures level (price structure)
  3. How does this market purchase its inventory?
  4. At what markup does it sell?
  5. Who are the wholesale companies that I can contact?

7. Tradeshows.

  1. Where are the tradeshows and when are they held?
  2. Qualifying procedures to be able to attend a trade show.
  3. Why do I need to attend a trade show?

8. Market pricing.

  1. How do I price my inventory and products?
  2. Understanding the wholesale price.
  3. Understanding the retail price.
  4. Understanding the manufactures price.

9. Equipment purchase for operating a diamond or jewelry business.

  1. What type of equipment do I initially need?
  2. Where do I get supplies?
  3. What wholesale companies can I contact?
  4. What are the address and phone numbers of these companies?

10. Bookkeeping and the Internal Revenue Service.

  1. Can I do my own books or should I use an accountant.
  2. How do I run my bookkeeping to avoid complications?
  3. How does the IRS view my profession?
  4. What is the likelihood of an IRS audit?

11. What is consignment or memorandum in the diamond and jewelry business?

  1. What is cash memorandum?
  2. How to write up a consignment.
  3. What legal terminology must I have on my consignment form?

12. Key points I must consider when entering into a contract with jewelry or diamonds.

13. How do I fill out a salesslip, invoice or custom form to avoid a legal issue or liability?

14. Diamond etiquettes, what are they?

  1. How to negotiate and close a diamond deal.
  2. How do I conduct myself?
  3. How to seal a parcel.
  4. How to say no without being insulting.

15. Transportation or courier service to and from foreign countries.

  1. Shipping services that are available.
  2. U.S. laws with regard to precious shipments to and from the U.S.
  3. Insurance for international shipping.
  4. Procedures for custom declarations.
  5. How to secure a package before it leaves your premises.
  6. Type of shippers that are available-names, address, and phone numbers ect..

16. Wiring funds outside the USA.

  1. What banks do I use?
  2. Are there bank charges on funds entering a bank in a foreign country?
  3. If I did not consummate a business deal, how long does it take to return funds to my domestic account?
  1. Aspects of appraising.
  1. Do I need a license to appraise?
  2. Am I liable for my appraisal?
  3. The structure of appraisal pricing.
  4. At what price do I appraise?
  5. How can I protect myself from an appraisal lawsuit?

18. Insurance for my business.

  1. What type of insurance do I need?
  2. Do I need coverage on both on and off the premises?
  3. What insurance's are available to the diamond and jewelry industry?
  4. Names, addresses and phone numbers of Insurance companies.

19. Security for my business.

  1. What type of alarm should I consider and key points I need to be aware of?
  2. Do I need a safe (vault) and what type should I get?
  3. What type of rating should my safe have to qualify with the insurance companies?
  4. Anti-theft precautions for traveling.
  5. What do I need to know about wireless phones?

20. Advertising for my business.

  1. What type of advertising do I need?
  2. Where can I advertise?
  3. What markets should I target?
  4. How can I obtain free publicity both local and national?

21. Aspects of the Internet.

  1. Do I need an Internet presence?
  2. Finding a domain name.
  3. Building a website.
  4. Who should I contact within the industry to host my website?
  5. Email and search engines, how to get and maintain exposure.

22. National and International Banking.

  1. How do I make business deposits?
  2. What are taxable and non-taxable deposits?
  3. What checks are considered business checks and what checks does the IRS consider personal?
  4. What is off-shore banking?
  5. What can I consider foreign or international business and how do I handle this with the IRS?
  6. Do I need to consider investment diversification?
  1. Marketing and promoting your finished product.
  1. Who will purchase from me and at what price?
  2. How to promote the product I have to offer.
  3. Who are my competitors?
  4. What is market niche?

The above are only some of the subject areas that will be covered. Each prospective student is encouraged to take extensive written notes. No video cameras or recording devices are permitted in any class. Still shot cameras are acceptable on a limited basis.

Application

HOME