First let me say, I'm no expert when it comes to sharpening lawnmower blades, I've done it on the odd occasion -- only on rotary mower blades, never on cylinder or reel mower blades.
I do sharpen my own hand-tools, things like wood chisels, plane blades, etc and use sharpening stones to do those, but when it comes to lawnmower blades I've personally found it's more cost effect to pay a "professional" to do it...
Cylinder or Reel mowers
For cylinder or reel mower blades it's my understanding (and experience) it makes the most sense to take them in and get them sharpened by a "professional" who specialises in lawn tools.
I mainly say the above because even my dad who was a foundryman by trade and done everything himself around the home, would spend his money to get his cylinder lawnmower blades sharpened once a year. Then through the course of the lawn cutting season he would regularly hone the blades himself via a combination of fine metalwork files and sandpaper.
Via a web search I see you can buy reel mower sharpening kits, I honestly have no experience with them (nor do I know anyone who has used such a kit), therefore I can't comment on how good or bad they might be.
I have no affiliation with the below links, am just posting them as examples of what I found on the web:
Rotary mowers
For rotary mower blades you have a number of ways (tools) you can choose to sharpen those blades. Which method you use pretty much comes down to personal choice, each method has pluses and negatives associated with them...
Fine metalwork files and sandpaper (old school).
- Personally I think this method is best used for regular honing ie Keeping the blade edge sharp through the lawn cutting season.
Handheld sharpening stones.
- Again probably best used for regular honing...
Handheld angle grinder and a fine metalwork file (for removing burrs).
Takes a steady hand and more experience (skill, a light touch) than other methods to achieve good results -- mainly because it's very easy to remove too much material quickly...
Personally I think this method is best reserved for blades that have (large) nicks in them, use the grinder to remove those nicks, then finish the job, hone the blade edge, with a fine metalwork file (or handheld sharpening stone) and sandpaper.
Also keep in mind, the heat generated by the action of the grinding disc can have a negative effect on the blade itself...
Bench-top grinder and a fine metalwork file (for removing burrs).
- Very similar to the above handheld angle grinder method in its pros and cons. That said, I believe it's the chosen method used by most "professionals" that offer lawn blade sharpening services.
Specialist lawnmower blade sharpening attachments, available for a variety of different power-tools eg (I have no affiliation with the below links...)
Recommended (safety) equipment if doing it yourself
Sharpening tools from from one of the above methods (or from a method I haven't listed above).
A scrap piece of 2"x4" (50x100) timber, used for wedging the blade in place when removing it from the lawnmower.
Suitably sized socket rachet or spanner ie Correct size to remove bolt(s) holding the blade on.
- Optional -- correct size spark-plug socket.
Bench-top vise.
- Or a suitable clamp (eg G-clamp) you can use to clamp the blade to a flat work surface.
Blade balancer (basically a small cone) or a large nail/screw driven ⅔ (fixed securely) into a wall.
Heavy-duty work gloves.
Safety glasses.
Handheld (stiff) wire brush.
Some sort of cleaning cloth/rag.
Can of silicon based spray.
General lawnmower blade sharpening procedure
Remove the wire from the spark-plug. Some recommend then removing the spark-plug, personally I don't think it's required to-do-so, but if you want to play it extra safe, remove the spark-plug as well.
Now the lawnmower needs to be "laid on its side" so the blade can be removed. The trick I use (prevents petrol/gas from leaking out of the tank), is to tilt the lawnmower backwards and place a heavy toolbox on the handle to prevent the lawnmower from coming back down. See below image (click to enlarge)...
Put on the heavy-duty work gloves.
With the lawnmower "laid on its side" or tilted back, wedge the scrap piece of timber in between the blade and the cutting deck so the blade is unable to spin.
Remove the bolt(s) holding the blade on.
Put on the safety glasses.
With the handheld (stiff) wire brush clean off as much bits and pieces (gunk) as you can. Then take the cleaning cloth and wipe off the blade.
Securely clamp the blade in the bench-top vise or clamp it down to a flat work surface using an appropriate clamp.
- Obviously the above step isn't required if using the bench-top grinder method of sharpening.
Sharpen the blade using your chosen sharpening method. Take your time, remove as little material as possible, do your very best to sharpen the blade to the manufactured angle.
Take the fine metalwork file and remove any burrs that might be present on the backside of the blade.
When you've finished sharpening the blade (both ends), remove from the vise (or clamp).
Before putting the blade back on the lawnmower you need to "balance" it. If the blade isn't balanced:
You will get an uneven cut.
Vibration of the blade will put excessive wear and tear on your lawnmower.
Also a blade that is vibrating is a serious accident waiting to happen.
To "balance" the blade, ether place it on the blade balancer or hang it on the large nail/screw, via the bolt hole in the middle of the blade.
If the blade is balanced it will not tip one-way or the other.
If the blade isn't balanced it will tip down on one side (the heavy side), that side of the blade needs to have a little bit of material removed.
Once the blade is balanced, lightly spray the whole blade with the silicon based spray, then wipe off any excess with the cleaning cloth.
Bolt the blade back in place, making sure you put the blade back the correct way up.
Don't forget to reconnect the spark-plug (or put it back in if you took it out).
The below video may prove helpful/useful:
If you wish to read about my "annual" lawnmower maintenance ritual, you can do so here on SE: What's an organic way to discourage crabgrass from a large “lawn”?
Good luck! and I hope the above proves somewhat helpful/useful...