Cash for Gold Store Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Cash for Gold Store Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Cash for Gold Store business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Cash for gold stores operate in a strong position to be able to operate profitably and with a positive cash flow in all economic climates. This is due to the fact that these businesses are able to acquire jewelry and precious metals at deeply discounted rates from individuals that are looking to sell these items. During times of economic recession, these businesses typically are able to generate substantial inventories of low-cost precious metals given that people fall on hard times are looking for quick ways to obtain the cash they need for their day-to-day expenses. As such, cash for gold stores remain a popular business in most parts of the United States and abroad. These businesses can be substantially profitable if the owner of the cash for gold stores able to acquire substantial inventories stand there are a number of metal purchases and third-party jewelers that frequently sorcerer inventories from cash for gold stores. These businesses tend to be very profitable when the prices of precious metals increase substantially or during times of high inflation.
Given the fact that these businesses operate with a great deal of economic stability, most financial institutions are almost all private investors have a keen interest in acquiring equity shares or providing capital for a cash for gold store. Many of these businesses will be able to not only obtain a business loan in order to launch their operations, but they are also very strong candidates for a working capital line of credit secured by the precious metal inventories held by the business at any given time. A cash for gold store business plan will be required if an individual entrepreneur is looking to obtain money from a third-party funding source. As with any type of business planning document – this should include a three year to five year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, business ratios page, as well as the general assumptions that were used in conjunction with the involvement of the business planning document to cash for gold store, most entrepreneurs can expect the these causal range anywhere from $50,000 to $200,000 depending on how in order to acquire grease and gold from the general public. It from sales of these precious metals typically ranges anywhere from 20% to 30% depending on how deeply discounted the owner of the Tory it should be noted that for this specific business plan in a pawnshop capacity were short-term loans are being provided to third parties while using gold as the collateral. In these cases, gold is simply being acquired at a discounted rate from the general public. As such, the licensure requirements for this type of store are substantially less given that short-term loans are not being provided. On a side note, most financial institutions are somewhat wary about providing a substantial amount of capital to pawn shops and other short-term loan companies that principally use gold and other precious metals as the collateral.
Within the business plan as well, a analysis of the area should be included which includes examining annual household income, median family income, number of households within the target market, the cut competition at the business will face, and other pertinent information regarding the demographics targeted by the cash for gold store. These businesses tend to do much better in areas where the population is considered working-class or lower middle class individuals. It is not common that upper middle income people or upper income people divest their jewelry in exchange for cash. As it relates to industry research, there are approximately 2500 companies that own or operate one or more retail locations and are actively engaged in the acquisition of precious metals from the general public. Aggregate Lee, these companies generate about $5 billion in revenue and provide jobs to about 50,000 people. This industry is expected to follow the growth of the general economy – except in times of economic recession when these businesses tend to thrive given people’s need for quick access to capital.
A cash for gold store SWOT analysis should be included as part of any type of business planning documentation that is being given to a third-party funding source. As a relates the strengths, cash for gold stores are always able to remain profitable, they have low startup costs, and they are able to produce profits through the sale of precious metals into the open market. The gross margins generated are substantial enough to ensure that any type of underlying debt obligation can be fulfilled at any time. The high collateral value of the inventories held by these businesses makes them strong candidates for third-party financing.
For weaknesses, these businesses are subject to a myriad of laws as it relates to dealing with the general public. Additionally, as these businesses are typically located in areas that feature a large population of lower income people, security is an ongoing issue that needs to be addressed by the entrepreneurs that own these types of companies. The facility costs relating to operating a cash for gold store can be significantly high given that most of these businesses are required to have a standalone facility coupled with an expansive security system apparatus. Employees need to be trained on how to properly deal with people the general public that are in quick need of cash.
For opportunities, these businesses are able to readily expand by simply establishing new locations while concurrently being able to divest inventories online. Many cash for gold stores also maintain online portals that allow them to very quickly source inventories from anywhere in the country among people are looking for quick access to cash. In some cases, entrepreneurs will seek to acquire third-party companies that are already in operation in order to produce income in any economic climate.
As it relates to threats, there is really nothing that is going to impact the way that these companies do business moving forward. This is primarily due to the fact that people are always going to need a fast way to sell gold and jewelry and they are going to turn to cash for gold stores in order to complete though sales. However, if the location does intend to make short-term loans the general public there are a number of pieces of legislation that are adjusting the way that these companies provide their capital to borrowers. As such, if an entrepreneur that has started the cash for gold store is looking to operate more in a pawnshop capacity than they may need to consult with the attorney in order to determine which laws will be applicable to this type of operation.
Beyond this type of documentation, a cash for gold store marketing plan should be developed as well. Foremost, most cash for gold stores maintain highly visible retail facilities that they can count on to drive thousands of people to the store each month. These stores are frequently located in strip malls or near busy intersections in commercial areas of their cities and towns. Beyond maintaining a high visibility location, an expansive website should be developed so that individuals are searching online for cash for gold stores can quickly find the base business. Many of these businesses also have mobile applications that allow them to quickly find the business from the convenience of a cellular phone or tablet. Beyond this type of marketing activity, very little is generally needed in order to create awareness of the cash for gold store. However, if the stores also going to sell a number of other items that may be in the company’s best interest to maintain an expansive presence on FaceBook, twitter, Instagram, and other platforms which people use in order to find businesses quickly.
Cash for gold stores are one of the main stay businesses within the United States especially in areas that have a population that typically does not have a very high income. Beyond changes to lending procedures that may be used by some cash for gold stores that offer short-term loans, there’s really nothing is going to change about the way these businesses operate. One of the principal things that needs to be addressed on an ongoing basis is a need for expansive marketing campaign that allows these companies to effectively source their customers so they can acquire discounted inventories of gold, platinum, silver, and jewelry on an ongoing basis. Many cash for gold stores can also find expanded opportunities by hedging their bets through the use of gold futures, swaps, spot contracts, and other commodities driven financial instruments in order to lock in their profits on an ongoing basis.