We have had several successful Gold Buying Events lately. We are learning that as we go to smaller communities, we have more success, our expenses are greatly reduced, and the paper work is much easier. We have been working to get the proper approval and licensing on some of our larger cities for over 3 months now. With the smaller communities, it usually only takes just a few days.
We are making a healthy profit in most of all of our Gold Buy events. Surprisingly enough, some of the larger cities we visit, we break even. We are working on several different ideas to promote our Gold Buys and always trying better to reach people in the communities, Once they come and visit us, we have almost a 100% buy ratio, they are thrilled in the amount we pay for their old jewelry.
We are continually refining our process to increase our profits, which in turn benefit us all.