Gold Max of California announced today they are on track to open 100 Gold Max stores in Southern California within the next year. With more than 150 stores, Gold Max operates the United States’ largest chain of stores specializing in buying gold and precious metals from consumers. Gold Max entered the Southern California market in the fall of 2010 and opened 8 stores. Since retaining Present Value Properties as its exclusive real estate broker for California in early 2011, Gold Max has already opened 6 new stores in Southern California and will soon open 9 more. Currently, Present Value Properties is in negotiations on additional 23 stores for Gold Max in Southern California.
Jordan Sadoff, co-founder of Gold Max shared the secret of their success,“Present Value Properties has worked with us to redesign our development process to significantly reduce the time necessary to identify sites, sign deals and open stores. We are now opening stores in less than 90 days from start to finish,” Sadoff said. Store size can range from 700 to 4,000 square feet.
The real secret to Gold Max’s rapid growth is the founder’s eagerness to make fair deals. “Gold Max has been a great client to work with because the principals, Scott Garber and Jordan Sadoff, are committed to the development process,” according to Greg Fisher, president of Present Value Properties. “The principals are creative and aggressive deal makers who make quick decisions and move forward aggressively.”
Scott Garber, cofounder of Gold Max, spoke of his excitement about the successful store openings. “We are very happy with our customers' positive response to our beautiful new stores and our very friendly and professional buying staff. We have been very surprised by how many people did not know how valuable their old, broken, and outdated jewelry really is until they come to our stores. They are very happy to get so much money for jewelry they never wear anymore.”
When asked why so many people are selling their gold to Gold Max, Garber outlined the simple rules that have made Gold Max the number one name in the business. “First and foremost, we treat everyone fairly. We have bright, clean stores with an attractive design and we staff them with knowledgeable and friendly buyers. Everyone has unused or unwanted gold but most people don’t know how fast and easy it is to get a good price for their jewelry. They can come into our stores with useless jewelry and leave with money to spend on other luxury items," Garber said.
Sadoff added that Gold Max offers a 110 percent best price guarantee. "We’re highly confident that we’re the strongest payer around. If a seller receives a higher quote anywhere else, we’ll beat the price by 10 percent; it’s that simple," said Sadoff.
Gold Max owners Garber and Sadoff have over 150 cash for gold stores including more than 60 stores in Illinois and Wisconsin, 45 in Georgia and 10 in Indiana, Missouri, North Carolina and Tennessee. "We know without a doubt that this concept, and our specific business model works. It was with this success in mind that we carefully researched many markets throughout the U.S., but we ultimately zeroed in on Los Angeles as our final selection. With now having our first phase of stores opened, we’re extremely pleased and optimistic about reaching our goal of opening 100 stores throughout Los Angeles and southern California," said Garber.
Gold Max of California site criteria is: highly visible locations with high traffic counts; power, neighborhood, or soft goods centers located in Southern California; and store size between 700 to 4,000 square feet.
“We realize gold won’t stay at record highs forever, but we see nothing on the horizon that will negatively impact our business. We are committed to aggressively growing our brand. Gold Max will become the number one consumer gold buyer in the world, and we can’t get there fast enough,” stated Sadoff.
About Present Value Properties, Inc.
Founded in 1998 by Gregory A. Fisher, Present Value Properties, Inc. is a full service real estate firm providing retailer and landlord representation, development and entitlement services, and consulting services. Headquartered in Tustin, Calif., Present Value Properties exclusively represents a variety of chain retailers throughout Southern California including Menchie’s Frozen Yogurt, Southern Pizza Hut, Gold Max, and Payless ShoeSource. Currently, Present Value Properties has 650,000 square feet of retail space listed throughout Southern California.