(Mark Your Calendars: RealShare Orange County, August 18 in Newport Beach).
TUSTIN, CA-Gold Max of California, a buyer of gold and other precious metals, has launched a program to open 100 stores within a year in California. The company, which operates more than 150 stores in the US, entered the Southern California market in the fall of 2010 and opened eight stores. Since retaining Present Value Properties as its exclusive real estate broker for California in early 2011, Gold Max has opened six new stores in Southern California and will soon open nine more, with Present Value Properties in negotiations on an additional 23 stores in the region.
Jordan Sadoff, co-founder of Gold Max, said that the company is opening stores quickly because, “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.”
Gold Max looks for highly visible locations with high traffic counts for its stores, which can range from 700 to 4,000 square feet. Greg Fisher, president of Present Value Properties, says that another key to the accelerated pace of store openings is that Gold Max principals Sadoff and Scott Garber are committed to the development process and make decisions quickly.
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. Garber says that Gold Max researched many markets throughout the US before its push into Southern California. “We ultimately zeroed in on Los Angeles as our final selection,” he said. Sadoff added, “We realize gold won’t stay at record highs forever, but we see nothing on the horizon that will negatively impact our business.”
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