Fascinating opportunity to enter the precious metals investment space.

This business has been around for over a decade, boasts over 20,000 subscribers and plenty of organic traffic to get your started.

Tell us a little about yourself. What’s your background? Did you originally start this business or did you acquire it?

My background is in structured finance and commodity trading. Our group of companies (I have 2 partners) own several businesses in the commodity, Fintech and DLT space. 

I set up GoldDirect 12 years ago and sold it in 2013. We, as a group, bought GoldDirect back at the beginning of this year. We intended to continue the successful brokerage, but decided due to all restrictions with Covid and the general market that it was better to divest again and focus on our other operations.

What sort of licensing or certifications does one need in order to own and operate a precious metals brokerage?

None whatsoever.

Do you physically store precious metals yourself? If so, what sort of location is needed to do this securely?

Yes we do store the precious metals. We currently use Brinks, Loomis and Malca Amit. Although our stock is not part of the transaction.

How exactly do you generate revenue? Is this a commission based business? Is it a subscription service?

Back to back trades. We earn on the spread and on storage fees.

How much time does it take to run this business, who else is needed on the team, and what, if anything is automated? If you have a team, are they available to work with the new owner?

Depends on how big you want it to be. Current size can easily be done by yourself part time. Therefore it has massive scaling opportunities.

Can you list a few opportunities for a potential new owner to continue growing the business?

All traffic now is organic and with an already established large user base of 20,000 registered users, marketing would boost revenue instantly. The current market is all about gold.

Benjamin Weiss

Benjamin Weiss

Benjamin Weiss is a marketing all-star at Flippa. He has well over a decade of experience running multifaceted marketing programs within the CPG industry and knows just what it takes to drive a business from vision to reality. You will often find him enjoying a cold beer on a hot day in Austin, TX, or you can always find him on LinkedIn.