Gold dealer/refining at discount. 50% repeat customers. $1.2M profit.
San Diego, CA
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.