Why start a cash for gold business? Because you can make serious money part-time, full time, or weekends. Build a referral business by treating your customers like “gold” and you’ll have a business for life. “No more working for the man.”
It doesn’t matter if gold is $500/oz or $5000/0z; we’ll teach you how to make money “on the spread.” Know the true value of the “piece” after melting for scrap, buy it for 30% – 70% of its scrap value and you’ve hit a home run.
Why Learn this business? : If you’re simply desiring to make a one-time buy, no biggie. Take your piece to 3 -4 scrap gold buyers, accept the best price and have a nice day. On the other hand, if you want to d=build a REAL scrap gold business listen-up!
Learn how to Value Scrap Gold, it’s easy with our “How to Start a Scrap Gold Business Course.” In a nut shell? Take the Spot Price of Gold (what gold is trading for) and divide it by 31.1 to get Grams or by 20 to get pennyweights. Then Multiply this number times the Purity Level (percentage of gold)and you have the value of the gold. Here is simple example: A. Spot Price: $1000/31.1 = $32.15/gram of 24K. So one gram of 24K is worth $32.15 under a $1000 Spot Price. B. What about 14K? Determine purity by dividing 14k/24k = 58%, so one gram of 14k would $32.15 x 58% = $18.64. Now you got it. C. Figure Out How much you want to pay. Check out your local competition and price yourself accordingly.
Scrap Gold Licensing: You may need a license to buy gold from the public. How to find out? Pay a visit to your local police department and your city hall and simply ask! Tell them you’re THINKING about buying scrap gold jewelry from the public. Ask the clerk what you need. It’s a no brainer. If you do, get the forms, fill them out, pay the $50 or whatever AND START!
Advertising: Begin by telling everyone you know you buy gold and pay top dollar. Tell everyone you pay referrals fees as well (This is all in our Course!) A simple web site works. Craigslist.com is really good. (See our Course for sample ads.) Other Marketing Ideas include Online Marketing, Blogs, etc and Paid for Ads like print ads, online, radio and TV. As with any business, this is the biggest challenge and it costs money. (Our Scrap Gold Course is loaded with ideas!)
Once you are up and running and locate a good refiner to sell your scrap gold purchases to for top dollar. (Our Course has several listed.)
A Cash for Gold Business can make a lot of Money! Some buyers learn to perform all their transactions on the Internet! They literally make money in their underwear :o)
Step 1? Begin your journey…
