Testimonial
PartyCash4Gold.com
What
are the start up costs for your opportunity?
No
start up costs although representatives are expected to attend
regional training days so no expenses are paid.
How
many years has your company been trading?
Less
than a year- Incorporated at Companies House on the 26th March 2010 (Reg No. 7204547
What
type of selling is involved ?
Not a selling role.
Partycash4gold invites people to host a party where we supply a
valuer to set up their testing equipment and value old, unwanted
jewellery. We provide £35 towards drinks and nibbles, pay the
host 10% of all the gold value that we purchase plus pay referral
fees. We hire reps as in a combination of Party Plan Service
provision (Gold Valuer) and Sales Agent (Promoting new Parties).
What
training and support is offered?
A Full Intensive
Day’s training from a member of our Refining Partner, Star
Refining of Hatton Garden, followed by “at-party hand holding”
for 2-3 parties. We pay for marketing materials, national and local
PR and additional offline support for agents having difficulty
What
are the basic initial commission rates ?
7.5% of
gross margin (after hostess and referral fees and contribution to
equipment funds)
What products/services do you provide to sell?
We
do not ask our agents to sell anything, only to be valuers at our
parties (whether they were generated by themselves of by vistitors
requesting a party via our website). They are expected to promote
parties by their own efforts.
What
does your company offer?
We offer a fun packed
party, where we contribute to the entertainment costs whilst removing
the stigma of visiting a pawnbroker and paying nearly double the
value for guest’s items. We pay an average of 55% for the Gold
and precious metals. It also allows the host to make a substantial
amount of commission at a single party.
What
can someone joining your company realistically expect to earn?
We
would expect our agents to book and attend 5 parties per month. Not
every party is a huge success but for every party with 10-15
attendees they should be earning between £80 to £200 for
a 4-5 hours work depending on whether they have satisfactorily
finished their training period (usually 2-3 parties plus their 1 day
intensive training) and whether the party has been generated by
themselves or centrally by Partycah4gold.com. Please see the below
example schedule for guidance, based on a party where we paid £3000
to acquire guests’ gold.
Does
stock have to be bought in advance and stored by the distributor?
No,
but we take 10% off the gross margin achieved at all parties for our
equipment fund. (The alternative would be to charge reps £1200
up front for their testing equipment and iPads).
Are
there any restrictions on earnings?
No
Are
there territories in which you have to sell within?
Not
presently as this is a startup however, we will begin assigning
territories to the highest performing agents in coming months
Does
someone joining your opportunity have to meet certain criteria or
targets?
Yes. They need to provide accurate
assessment of the items they are valuing to the satisfaction of our
partner Star Refining. Agents must not pay too much or too little for
the Gold and need to ensure that valuations maintain a 50-60% of spot
price range when valuing items
What
sets your opportunity apart from the others?
No
upfront fees and vastly higher earning potential for agents than any
other party plan business
What
are the ways in which you can earn money from your opportunity?
Referral Fees. If you can generate new parties
from existing ones it creates a stream of work for the rep.
What
bonuses and incentives do you have and how easily achieved are they?
We are currently discussing a range of bonuses
based on Gross Margin delivered to our company. We hope to announce
these at the end of Q2 2011.
Can
anyone be successful with this opportunity?
Yes
although for the nature of the role they must have or pass CRB
certification
Is
there anything else you would like to say about your opportunity?
Ideal for those looking to earn extra money working the hours that
suit them, learning new skills whilst still having the ability to
work in a full-time role.
Example Commission Schedule.
Total value of material at gold party (What we sell it for ) £4,750 (95% of the LME Spot Price)
Total Payout at Party to guests for their Gold £3,000 (60% of the LME Spot Price)
Hostess Fee (10%) £300
Entertainment Contribution £35
If eligible for Hostess Referral Fee (3%) £90
Gross Margin £1,325
Equipment Fund (10% to finance purchase of equipment) £132
Total £1193 (This is the amount commissions are based on)
Gold Valuer Commission (7.5%) £89 (Training Period & organized by Company)
Gold Valuer Commission (15%) £179 (Organised by Valuer in training period)
Gold Valuer Commission (15%) £179 (Organised by Company and attended by a fully trained Valuer)
Gold Valuer Commission (20%) £239 (Organized and attended by same Valuer)
Laith is Chief Executive of Party Cash 4 Gold.