How to Start a Cash For Gold Business
“Learn how to start a cash for gold business from your home or business.”
Over the past few years we’ve seen them pop up everywhere including T.V. and in our favorite local papers with offers to “Pay you Top Dollar for your unwanted Gold”.
But the question is why has the Cash For Gold industry exploded with such popularity?
As a leading Payday Loan Consultant in North America I may have some insight as to why. You see the payday loan industry has grown exponentially over the last 20 years as consumer debt rises so does the demanded for short term loans. But with loan defaults on the rise Payday Loan business operators started looking for a way more secure way to earn money from those who don’t necessarily qualify for a Payday Loan and some would argue that nothing’s more secure than GOLD, right?
Many economists argue that gold is more stable right now than actual paper money currency, since paper money currency really doesn’t have any real value other than the paper it’s printed on. It wasn’t always that way though. In fact when the U.S. was founded they instituted what was called the “Gold Standard” which basically meant that any paper currency printed by the government was backed by real gold sitting in their vault at Fort Knox. People could actually go to a bank and trade their paper notes (money) for actual gold and silver coins. But with the depression of twenties came a new plan to forgo the Gold Standard. So the question is what’s backing the dollar now? The answer is nothing! This is why we’ve seen not only a huge decline in the U.S. dollar but also a skyrocketing rise in the price of gold. As the U.S. sinks deeper and deeper into debt gold will continue to rise as investors look for a more secure way to maintain their assets and investments.
“How can I start a Cash For Gold business?” Click Here!
The Concept is Simple:
Companies offer consumers to buy their gold whether it be coins, bullion or jewelry and pay them anywhere from 30% to 90% of the actual value for that day according to the weight of the item and the price of gold for that day.
Many consumers desperate for the cash often take the first offer they’ve been given. The company then turns around and sells the gold they’ve purchased to a gold refinery for 95% of the gold price thus making them profit. If from the time a company buys an ounce of gold the price is $1600 to the time they sell it is $1800, not only do they collect the percentage difference but also the price difference. This also means if the gold price goes down they need to hold on to the gold until it goes up again. But thankfully history has shown us that time after time gold continues to climb and climb.
So how do you start a Cash For Gold business?
Again it is quite simple as long as you have some basic business and marketing know how. As long as you are able to offer your service to the right targeted market you will always have a steady stream of customers. The key is marketing. No special licenses are required but you will need a location to operate from and that could either be a storefront which will increase your overhead or you can operate it from an office. Many of these businesses operate purely through the mail. Where a potential customer or gold seller will call a number and order an envelope then the envelope is shipped to them they place their unwanted gold in the envelope and ship it back pre-paid to the company where they receive the gold evaluate it then mail back a check for the evaluated gold amount. The consumer then either reject the offer and send the check back or accept it and cash the check. It’s that simple! But again you have to know how to market your cash for gold business to the right customers and that’s where I come in.
Marketing is key in any business and how to start a successful Cash for Gold business is all about marketing the right way. For an insiders look on how to start a cash for gold business and sign-up for my free 7 day marketing program.
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Related Article: http://www.andrewskelly.com/how-to-start-a-payday-loan-business
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Posted by +Andrew Skelly on Thursday, September 8, 2011 at 9:26 am
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