You may often think about a business plan and analyze every aspect of it, like scope, investment, and profitability. In the trendy business world, even the business-like custom jewelry and Gold plating also enhance overtimes, and it is definitely worthwhile to invest upon Gold plating business, irrespective of where you are conducting the business. As Gold filled jewelry and other products are extremely costly, people seek a getaway with somewhere less costly and almost same value, and there Gold plating comes into play, maintaining the almost same elegance and shine, and fulfilling the need.
Let’s check on the basic factors of a Gold plating business.
What Is It?
Gold plating is a procedure where a thin layer of gold is added to any product. the product becomes gold wrapped not filled, but it looks and shines like gold only. It can be done on silver jewelry, custom jewelry, mobile phones, cars, bikes, and what not. Anything having a surface, which can behold a coating of thin-layered gold can be gold plated.
Know How It Is Done
There are all kinds of machines and equipment available in the market to weld the gold on the product. There is also special kind of chemicals, which you can buy from the dealers. Chemicals like chloride, alkyne gold cyanide are used in gold plating. Yes, the procedure of gold plating may sometimes take more time than estimated. And, the heating and cooling of the gold may take time and also the thin layer may take some more time to be imprinted. You should always choose some reputed company as your equipment and solution supplier. As you are establishing a business with the company, it is your duty to make sure about the goodwill of the company in the market. Also, make sure you have other backups to get your equipment and chemical solutions in need.
How Long Does Gold Plated Jewelry Survive?
Unlike Gold filled, gold plated products not necessarily jewelry only, may last from 6 months to 10 years. However, it depends upon the good quality of emblem and chemicals. Nevertheless, if you use 24K gold for plating purpose, it may also survive a lifelong period, again depending on the emblem quality.
What Can Be Gold Plated?
Well, almost anything to everything, from your iPad to a luxury car, from your Phone to Sitting chair or even a toilet seat. Anything and everything can be Gold plated if it has a surface, which can behold the emblem of gold. Gold plating is not a tough thing to do at all. It just depends on the base material.
Know Your Customers
Any business is successful because of their customer. So, before anything else, you need to target your customer. You need to decide your targeted customers. If you want to Gold plate the iPhones, and other mobiles, you may act likewise. Gold plating the vehicles is the smartest one, as the profit margin is quite well. If you want to deal in custom jewelry, then also you are targeting a huge customer section to be your patron.
Know The Profit And Benefits
As the needs for luxury goods are never-ending, so is your business. As long as people are alive, they will opt for custom jewelry and other luxury things like gold plated iPhone. So, you have no worries about your business getting no customers and crashing. You only need to provide good quality and even a better customer service to retain customers. And as it doesn’t take a huge amount of gold to gold plate, just a few grams and a maximum of the work is done by machines, for an example, you can make 3 iPhones gold plated in less than an hour with the minimum amount of gold. So, the profitability is quite high in this business.
Thus, gold plating is a profitable business, if one can do it in the right manner.