This is a retail store in a niche market that is highly lucrative. The business specializes in the purchase and resale of gold and silver, jewelry, gift cards, and electronics such as smartphones, tablets, laptops, and cameras. There are 3 employees - a general manager, manager, and a customer service representative. The owner works 20 to 30 hours a week. The owner’s job duties include preparing cash for shifts, selling gift cards, reporting hours to the payroll company, marketing, monitoring and preventing fraud, helping customers resolve issues, and selling electronics on eBay. The owner has other businesses, and would like to dedicate more time to his other businesses and projects. This is a rare opportunity to own a very profitable business in a niche industry, enjoy the cash flow, and grow the business to the next level.
The location is excellent with a high traffic count. The store interior is in great condition, clean, and beautifully designed. Of the $174,926 in inventory, only $10k are electronics and the rest are gold and silver. This makes the inventory very valuable because electronics tend to depreciate, but gold and silver are likely to see higher prices in the future.
Competition / Market Pros & Cons
The owner has built a very successful business model in a niche industry that results in high revenues and high cash flow. The location is excellent, and the business provides good rates and outstanding service. The business has a great reputation with numerous glowing reviews online.
Growth and Expansion Pros & Cons
While it is set up like a pawn shop, the business does not do any pawning currently. A new owner could potentially expand the list of services offered to include check cashing, payday loans, business loans, and pawning - none of which is currently offered at the business.
Support / Training Available
Seller is willing to train. Details negotiable.
Reason for Selling
Owner wants to spend more time on his other businesses.