4 votes

I just came up with a great idea for my gold/silver store/ your thought?

With Gold and Silver dropping like a rock, my business has been slowing down. I had to come up with another idea to get more customers in my store. I now buy Gift Cards to almost any place that you can think of and I give cash right away. This is a good way to keep customers coming in. Here is a short video I made just leting people know what I am doing now. The "Cash King" will Pay You CASH for your Gift Cards at Fortress Precious Metals! http://www.youtube.com/watch?v=ktGOS_tx03c

If you run a gold/silver shop, even a cash advance place, pawn shop, or any place that gives customers cash email me if you would like more info on this knarfxii@yahoo.com

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Cyril's picture

BUMP.

BUMP.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

I think it's a simple yet clever idea

I think it's a simple yet clever idea, also fairly win-win:

that gives your customer or prospects some fiat to spend in something tangible they can choose - e.g., precious metals, duh! ;) - while it allows you to yield a business margin for yourself.

You are the one who ought to be esp. careful about what you can accept, though, I suppose.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

I have seen buyer(s) on Craigslist for gift cards.

I look for gift cards on Craigslist to the places I like most. I don't get them often...but in my searches I have seen quite a few ads looking to buy gift cards ...and from what I can tell, it looks like about 50% face value. Seems like if you could turn it quickly, you could make a decent living ESPECIALLY right after the holidays.

I seen them on Craigslist too

Some people would be afraid of that though. You never know who or what you might meet. I want to provide a safe way for people to sell their gift cards.

I think it is a great way to make some cash.

Definitely a good idea. But like you might buy and sell Eagles a little higher than other silver ounces, you should be sure to know the market so you know which cards can get more.

Seems Target would get more than Sears, for example.

has anyone ever

heard of this kind of business before?

Yes,

I have seen many companies online that do this (giftcardbin, giftcardrescue, plasticjungle), but nonetheless, I think it's a good idea to implement into your store.

*I actually saw a commercial about two or three months ago for a site that pays 60% of your gift card in cash.

Even if others have already used the idea, though, you have the advantage of immediate cash. Whereas these online sites require 3-5 days to receive your "cash" in the form of a check. So, I think it's a great idea as long as it's making you money.

thanks

that was what I was thinking.