Gold plating business - any pointers?
Discussion
Hi all,
I'm having very strong thoughts recently of setting up a gold plating business, much in
the style of this website here: www.goldgenie.com/
(business of that guy on dragon's den)
Although my version of the business wouldn't include any franchising, what do the community here think? For this kind of business, it's rather hard to do much analysis, due to the business being quite unique.
Anyone with any experience of this kind of business or any general advice would be greatly appreciated.
I'm having very strong thoughts recently of setting up a gold plating business, much in
the style of this website here: www.goldgenie.com/
(business of that guy on dragon's den)
Although my version of the business wouldn't include any franchising, what do the community here think? For this kind of business, it's rather hard to do much analysis, due to the business being quite unique.
Anyone with any experience of this kind of business or any general advice would be greatly appreciated.
awesome_welles said:
Hi all,
I'm having very strong thoughts recently of setting up a gold plating business, much in
the style of this website here: www.goldgenie.com/
(business of that guy on dragon's den)
Although my version of the business wouldn't include any franchising, what do the community here think? For this kind of business, it's rather hard to do much analysis, due to the business being quite unique.
Anyone with any experience of this kind of business or any general advice would be greatly appreciated.
It may be hard to do analysis, but without any market research you'll be going in blind and not knowing what to tool up for (size wise for example). Plus, without any meaningful market research how will you know where to advertise and to what potential market? Equally, how will your business plan look with no model if you haven't checked out similar companies and their annual performances? Analysis of the sector is critical IMHO.I'm having very strong thoughts recently of setting up a gold plating business, much in
the style of this website here: www.goldgenie.com/
(business of that guy on dragon's den)
Although my version of the business wouldn't include any franchising, what do the community here think? For this kind of business, it's rather hard to do much analysis, due to the business being quite unique.
Anyone with any experience of this kind of business or any general advice would be greatly appreciated.
rog007 said:
It may be hard to do analysis, but without any market research you'll be going in blind and not knowing what to tool up for (size wise for example). Plus, without any meaningful market research how will you know where to advertise and to what potential market? Equally, how will your business plan look with no model if you haven't checked out similar companies and their annual performances? Analysis of the sector is critical IMHO.
Thanks for the pointer. I was more or less thinking of copying the owner of goldgenie's approach, bear in mind that my business would be in another country where there are currently no proper gold plating services at the consumer level.hiya
In another country where's there's nothing for consumer level.. the very first thing that strikes me is perhaps because there's little or no demand for this sort of thing?
I remember in the mid 90's in Exchange & Mart (remember that?!!) where there'd be business opportunties listed and the machine and training etc etc for Gold Plating was around. Wasn't 'much' uptake in the UK for that really, and over the years, there's not really been much about it in the public eye. I noticed the more 'bling' of the USA, and car related especially, there was alot more demand for this kind of thing, and to an extent there still is.
Over here in the UK I know 2 gold plate specialists, niether is particularly busy, one of them will do gold plated alloy wheels
Gold Plating does indeed vary from country to country in terms of levels of demand, ensure the country you are looking at actually will want this sort of modification/service. I have seen that to bolster potential applications, many places will offer gold plating for bathroom taps etc for which I'd suspect theres more demand from the owners of high end property in the UK. Although Ipod/pads and mobile phones and portable gadgets are shown, I've only ever met one person who had it done, I'm sure there's others, but considering you can very easily lose these sorts of things, I doubt anyone really wants to spend an extra £50+ gold plating it!
Cheers, Dennis!
In another country where's there's nothing for consumer level.. the very first thing that strikes me is perhaps because there's little or no demand for this sort of thing?
I remember in the mid 90's in Exchange & Mart (remember that?!!) where there'd be business opportunties listed and the machine and training etc etc for Gold Plating was around. Wasn't 'much' uptake in the UK for that really, and over the years, there's not really been much about it in the public eye. I noticed the more 'bling' of the USA, and car related especially, there was alot more demand for this kind of thing, and to an extent there still is.
Over here in the UK I know 2 gold plate specialists, niether is particularly busy, one of them will do gold plated alloy wheels
Gold Plating does indeed vary from country to country in terms of levels of demand, ensure the country you are looking at actually will want this sort of modification/service. I have seen that to bolster potential applications, many places will offer gold plating for bathroom taps etc for which I'd suspect theres more demand from the owners of high end property in the UK. Although Ipod/pads and mobile phones and portable gadgets are shown, I've only ever met one person who had it done, I'm sure there's others, but considering you can very easily lose these sorts of things, I doubt anyone really wants to spend an extra £50+ gold plating it!
Cheers, Dennis!
Yes I bought a gold plating business from Goldgenie and making lots of money - it's not just about buying a kit its about the business mentoring and tips to get work - ipods are good for goldplating but there is a huge business in gold plating onsite peoples taps and of course car emblems - great business currently making over £800.00 per week and only been doing this for 6 weeks. www.goldgenie.com
Rickygenius said:
Yes I bought a gold plating business from Goldgenie and making lots of money - it's not just about buying a kit its about the business mentoring and tips to get work - ipods are good for goldplating but there is a huge business in gold plating onsite peoples taps and of course car emblems - great business currently making over £800.00 per week and only been doing this for 6 weeks. www.goldgenie.com
what have you been doing the other 58.5 months?
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