Gold dealer/refining at discount. 50% repeat customers. $1.2M profit.

San Diego, CA (San Diego County)

Seller Financing Available
Gold dealer/refining at discount. 50% repeat customers. $1.2M profit.
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Asking Price: $3,600,000

Cash Flow: $1,200,000

Gross Revenue: $6,875,000

EBITDA: $1,200,000

FF&E: $0

Inventory: N/A

Rent: $1,000 per Month

Established: 2006

Gold dealer/refining at discount. 50% repeat customers. $1.2M profit.

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Business Description

Buy and sell precious metals without risk and at a discount.

As the top gold dealer in San Diego, this business provides an amazing opportunity for a buyer to own and operate a turnkey operation with a solid reputation and stable client base:

• Buy gold at a discount, melt it and sell at market. Options lock in pricing to hedge all risk from precious metal price fluctuations. Buy and sell precious metals with zero risk and at a discount.
• 2020 Earnings of $1.2M
• 50% of customers are repeat or referrals over 15-year history
• Safe, secure location and facilities with low overhead
• Stellar reputation
• Successful operational processes in place
• Growth Opportunities:
o Expand hours: Company has been run as open for business only Mon-Fri, Noon-6PM
o Increase advertising: Company spends minimal money on advertising (<$4,000 on
advertising in 2020)
o Expand e-commerce and retail sales: Company turns 99% of inventory for fast
revenue via wholesale sales. Maximize revenue with retail sales.
o Expand wholesale business. Local vendors are almost exclusively retail.
o Current owner does not push hard to maximize profits. Current owner restricts clients
with published minimum purchases.
• Search engine strength: top organic (free) ranking (Google, Google Maps) for terms like "Gold Buyer San Diego," "Cash for Gold San Diego," "Sell Gold San Diego,"
• Defined as an “essential” business under Covid guidelines, as a financial institution
• Owner offers master-level training in-person, and ongoing via easy-to-use technology

San Diego Gold Exchange recognized right away the value of providing a safe, secure and comfortable place for owners to sell their no longer wanted valuable items. The business buys and sells coins, bars, jewelry, watches and other items with precious metals in a secure storefront location. The business has a longstanding reputation for delivering fair, stellar customer service in a professional, secure environment. With two private transaction rooms, customers are afforded a comfortable and discreet space to conduct business. The company manages the buying and selling operation, as well as a retail jewelry operation, Uptown Patina, with limited in-store and e-commerce capabilities. In addition, the business includes the Gold Refinery of San Diego.

Detailed Information

Location:
San Diego, CA
Real Estate:
Leased
Building SF:
N/A
Lease Expiration:
N/A
Employees:
1
Support & Training:
Full training to transition the business and continue to assist as needed for success.
Reason for Selling:
Family is moving to another state.
Franchise:
This business is an established franchise
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Business Listed By:
Robert Hirsch

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Ad#:1842688

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