Starting A Gold Party Business Part 8 – Using Our Calculator
Tek discusses how much to deduct while buying scrap gold and what variables go into that deduction and why. He discusses how gold purity, refiners fees, market risks, business costs and profits need to be fed into the equations and how the calculator does that for you. Tek also discusses the three tiers of the gold buying business and how their profit margins are wildly different. He discusses how the gold party independent business plan gives the fairest return to the customer, compared to pawn shops and mail in scrap gold buyers.
Having the right gold refiners from the start can be the difference in a successful business and one that fails.
Starting A Gold Party Business Part 9 – Finding a Refiner
Tek talks about the importance about finding a legitimate gold refiner and warns of getting scammed by a scrap gold marketing company masquerading as a gold refiner. He gives you two ways on how to track down and locate a real refiner that will give you the best premium return for your scrap gold. Tek explains that 90-95% of spot price is decent, but you should be shooting for the refiners that will give you better the 95% payout. Bottom line, using bad refiners can mean thousands of lost profits.
Starting A Gold Party Business Part 10 – Packaging and Sending Your Gold
Tek discusses ways to properly package and send your scrap gold to the refiners. He hits on the importance of getting your package sent registered and certified.
Starting A Gold Party Business Part 11 – Your First Refiners Check
Tek shows how to properly inspect your settlement paperwork after receiving your payment from the refiner (whether that is a check or gold bullion or coins). He talks about the important factors you will need to run against your own numbers, including, incoming weight, post refined weight, market price quote and settlement price paid.