36 Profitable Gold Business Opportunities

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Updated: July 15th, 2024

Seeking to start a gold business but not quite sure what to start?  

The good news is, there are so many opportunities to become an entrepreneur and build an innovative product/service in this line of work.  

If you're looking to start your own gold business, there are several amazing options you can choose from.  

We put a list together below of the most profitable gold business ideas you can start today!  

Here they are:  

1. Start a youtube channel

For anyone looking to start a successful YouTube channel, there are plenty of YouTube channel success stories that can be used as inspiration and encouragement. In addition, YouTube has an established monetization system and boasts incredible popularity, making it a potential platform for revenue generation.

In this article, we'll look at different approaches you can use to help promote your channel and grow your viewers. While there's no quick and easy way to success, you can take these tips to build your own YouTube Channel Success story. If you love content creation, you can capitalize on YouTube's popularity to earn extra income.

If you want to join the Youtube partner program to monetize your channel, you will need to reach a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months.

How much you can make: $800 — $1,000,000/month

How much does it cost to start: $750 (?)

How long does it take to build: 90 days (?)

Time commitment per week: Min. 5 hours/week

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2. Start an online gold dealing business

3. Become a gold researcher business

4. Start a gold safe keeping program business

5. Start a host gold forums business

Navigating the often opaque world of gold can be daunting for investors. A gold forum business demystifies this for them by providing a dedicated platform for discussions, insights, and networking.

In essence, you create an online community where enthusiasts and experts gather to exchange information on gold investments, market trends, and industry news. It's about building a space that fosters knowledge-sharing and collaboration within the gold investment niche.

The intrinsic value of this business lies in its ability to connect people who are passionate about gold. You'd be at the forefront, organizing events, webinars, and Q&A sessions with industry leaders, and providing reliable, curated content.

If you have a knack for community building and a fascination with precious metals, starting a gold forum business offers a sustainable way to leverage your interests into a profitable enterprise. The demand for accurate, timely information on gold investments makes it an engaging and potentially lucrative endeavor.

How much you can make: $300,000/month

How long does it take to build: 60 days (?)

Tired Of Bad Hosting Services, We Decided To Start Our Own [Now A $3.6M/Year Business]

WPX, a WordPress hosting company, started as a side project bootstrapped with just a server and a few licenses, and is now a team of over 100, servicing over 11,000 customers globally, with an annual income of $3M, thanks to their consistent focus on providing fast, reliable service and tech support for non-techies.

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6. Start an authorized gold purchasing business

7. Start a senior gold mining business

8. Start a host gold parties business

9. Start a direct gold ownership business

10. Start a pawn shop

A pawn shop is a retail establishment that offers secured loans to customers in exchange for personal property, such as jewelry, electronics, and firearms. The business model is simple: customers bring in items of value, and the pawn shop provides them with a loan. If the customer repays the loan, including interest, within a specified period of time, they get their property back. If they don't, the pawn shop keeps the property and resells it.

Pawn shops have been around for centuries and have a reputation for being a bit seedy and serving only the most desperate customers. However, with the rise of reality television shows such as “Pawn Stars” and "Hardcore Pawn,” people are beginning to see pawn shops in a different light. Today, many pawn shops are clean and well-lit, offering high-end items such as designer handbags and watches.

To start a successful pawn shop, it's essential to understand the value of the items you will be buying and selling. It's also essential to have a good relationship with your customers and to be willing to work with them to find a loan solution that fits their needs. Additionally, you should always comply with all federal, state, and local laws.

One of the most exciting aspects of a pawn shop business is the ability to buy items at a low price and then resell them at a markup. It’s the perfect opportunity for an entrepreneur with an eye for a bargain and a knack for selling.

Another critical aspect of running a successful pawn shop is to create a safe and secure environment for your customers and employees. Properly securing and monitoring your inventory and implementing security measures to protect your staff from potential harm.

Overall, a pawn shop can be a great business opportunity for anyone interested in buying and selling value items. A pawn shop could be the perfect business for you if you have an entrepreneurial spirit, a good sense of value, and a willingness to work with customers.

11. Become a gold speculator business

12. Start a gold streamer business

13. Start a raw gold selling business

14. Start a gold reseller shop business

Thinking about entering the lucrative market of precious metals? Starting a gold reseller shop could be your golden opportunity. This business involves buying gold at lower-than-market prices and selling it at a profit, either through a physical storefront or online.

With gold's ever-stable value, there's always demand. However, this isn't a get-rich-quick scheme. You'll need to establish relationships with gold suppliers, understand market trends, and have a keen eye for appraising gold.

Marketing your shop — whether through social media or local advertising — is crucial. Customers must trust your expertise and the authenticity of your products. Offering competitive prices and exceptional customer service will set you apart in this competitive industry.

For those willing to put in the legwork, a gold reseller shop offers a sustainable path to financial independence and the rewarding experience of working with one of the world's most sought-after resources.

How much you can make: $30,000/month

How long does it take to build: 240 days (?)

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15. Start a gold exchange-traded funds business

16. Start a gold mining business

Gold mining is a global business with operations on every continent except Antarctica. Demand for gold will continue growing. More than 90% of mined gold goes into jewelry, bullion, and coin making. The precious metal is also used in cosmetic dentistry for dental fillings and crowns as it is non-reactive and easy to insert into the human body.

If you plan to start a gold mining business, start small and expand as needed. Discover a valuable gold mine and claim its ownership. Register your gold mining company and ensure you have met all legal requirements and insured the business.

17. Start a local gold dealing business

18. Start a goldsmith business

19. Start a gold options trading business

20. Start a gold purification business

21. Start a gold plated jewelry making business

Creating gold plated jewelry is an intriguing business idea that blends creativity with commerce. Gold plated jewelry involves crafting pieces that have a thin layer of gold, making them affordable yet visually appealing.

Starting this business means you’ll design or source jewelry and apply a gold plating technique to enhance its value. This process can be done in a home workshop using basic electroplating equipment. The result is elegant pieces that cater to budget-conscious customers who love the look of gold.

With its relatively low start-up costs and high demand for stylish accessories, gold plated jewelry-making can be a profitable venture. Sourcing unique designs and using high-quality base metals can set your products apart. If you have an eye for design and a knack for marketing, this might just be the niche to explore.

How much you can make: $16,700 — $400,000/month

How much does it cost to start: $7,500 (?)

How long does it take to build: 545 days (?)

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22. Start a host gold coin shows business

23. Start a gold coins collecting business

24. Start a gold casting business

25. Start a junior gold mining business

26. Start a gold teeth business

27. Start a gold flipper business

28. Start a jewelry inspection business

29. Start a gold test kit business

30. Start a gold bar business

31. Start a sovereign gold bond scheme business

32. Start a professional jewelry scale business

Accurate measurement is crucial in the jewelry industry, making professional jewelry scales a highly specialized and valuable business opportunity.

A professional jewelry scale business involves selling highly precise weighing scales designed specifically for jewelers. These scales must consistently provide accurate measurements down to tiny fractions of a gram to ensure the proper valuation of precious metals and gemstones.

This business idea caters to a niche but affluent market, ensuring demand among professionals who require precision for their trade. Setting up this business involves researching and sourcing high-quality scales from reliable manufacturers, understanding the technical specifications, and marketing effectively to jewelry stores and craftsmen.

By providing robust support and excellent customer service, you're not just selling a product but becoming a trusted partner in the jewelry-making process. The durability and reliability of your scales will drive satisfaction and repeat business among discerning clientele.

How much you can make: $60,000/month

How long does it take to build: 180 days (?)

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33. Start a gold valuation business

34. Start a gold mutual funds business

35. Start a goldsmith training center business

36. Start a scrap gold recovering and selling business

meet the author

Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.

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