Business

MOMpreneur®, Where Two Passions Meet... Business Articles Regardless of the size of your company, your courage, your finesse and your situation will determine how effectively you implement the ideas you garner here.  You know your business best; you know where your business needs help and where the opportunities are.  You also know how quickly you want to grow.   We're here to make sure that between the information and the contextural situations we provide that you have a number of parameters and perspectives to help you make the appropriate decision at the right time.  The future is, indeed, bright for Mompreneurs!

A Golden Business Opportunity

A Golden Business Opportunity

Q&A with Melanie Parent, Founder, exclusively gold inc.

Think recycling is just for plastic, paper and aluminum? Think again! Through her company exclusively gold inc., Melanie Parent is giving people a different kind of recycling opportunity – one that offers a lucrative option for the disposal of unwanted gold jewelry.

“Most people have some gold they really don’t know what to do with and they need to know it is valuable,” explains Melanie who launched her company in 2009 in Calgary. “You can’t just throw it away – it’s gold! How about getting cash for those unwanted gold items while recycling one of the most desirable precious metals in the world?”

exclusively gold buys people’s ‘old gold’ based on a home party atmosphere. The purchased items are sent to a refiner and melted down, back into 24K gold and then sold on the open market for reuse.

With revenues currently just under $25,000, Melanie's business uses the home party concept as a way for people to gather with their gold jewelry in one location. She evaluates a person’s individual gold items and then offers them a fair price based on the karat, weight and spot price of gold. People typically receive 70-85% of what their gold is worth according to the current market value.

“I work closely with the City of Calgary and Calgary Police Service to make sure my items are safe and my business practices are at the highest standards,” she says.

When Melanie first learned about this idea, her research showed a void in Alberta and the Western Canadian marketplace in general for this service. She was excited about the prospect of filling that void for people who wanted to dispose of their gold without having to go through a pawn shop or deal with a company over the internet…

Q: What challenges have you had in starting

this business?

Sometimes it felt like I would never get exclusively gold off the ground. I wanted to make sure the corporate brand that I created was elegant and professional, a company that people felt comfortable inviting into their homes and selling their gold to.

Q: What is the current price of gold?

The price is constantly fluctuating. …The fluctuations can be very dramatic depending on the current economic state of affairs. exclusively gold pays its clients in Canadian dollars per gram. Every time we purchase gold we have to take into account the amount of time from when we make that purchase to when we sell it. There is always market risk involved and this can be very stressful.

Q: How do you evaluate a person’s gold?

After laying out the items I run a magnet over them - gold is not magnetic so if an item is attracted to the magnet, that means it is not pure gold.

Using an electronic gold tester and other testing methods, I determine the karats of the gold and the quality of the pieces. I am then able to offer a price to the client for their items. Once a price has been agreed to, the client signs a purchase contract and I write them a cheque; I have written cheques for as much as $3,200 for a person’s ‘old gold’.

Q: What happens to the gold after you purchase it?

Before sending the items to the refiner I weigh them. The refiner weighs them again upon receipt. Usually the items are a mix of 10K to gold flecks. The items are then melted down and the “fine weight settlement” – the amount of 24K gold present – is the final determiner of how much the gold is worth. I estimate what I think those results should be and what I should get from the refiner. I’m usually very close unless I have overpaid for an item or two.

Then I have to worry about the market fluctuations in the price of gold and the Canadian/US dollar exchange rate. It can be fairly unsettling some months. It’s like playing the stock market for your business.

Q: Where are the refiners you use?

One is based in B.C. and one is in Ontario. I send the items through a courier service with a special insurance specific to my shipments.

Q: Can you tell us about Gold for the Cure?

Gold for the Cure is an initiative to help participants of the Canadian Breast Cancer Foundation CIBC Run for the Cure with their fundraising efforts. Attendees at each gold party can decide how much of their total gold sales, if any, they would like to donate. Most women are amazed at how much their items are worth and don’t mind parting with a portion of their gold sales for such a worthy cause.

Q: What are your future plans for growth?

We currently support Calgary and the surrounding area based on demand. My plan is to expand but exact locations and timing have not been confirmed.

For more information about exclusively gold, email info@exclusivelygold.ca or visit their website at exclusivelygold.ca.

- MOMpreneur®

Business opportunities are all around us. What do you see that can be the basis for your business? What about…

“Every time we purchase gold we have to take into account the amount of time from when we make that purchase to when we sell it. There is always market risk involved…”

 Return to Business Articles


Don't have our magazine yet?
The MOMpreneur® magazine is a Canadian magazine for women who are balancing the role of motherhood with being an entrepreneur. We create an environment of sharing, support and encouragement to our members through our magazine, our seminars and webinars, and our online forums. Purchase our 6 issues per year to get connected with this exciting women's network!

Click here to order your MOMpreneur® Magazine NOW.