US state with low levels of bureaucracy for scrap gold buyer

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Iprefere18K

Member
Joined
Mar 22, 2015
Messages
6
I'm looking for an US state with low levels of bureaucracy. I'll become a scrap gold dealer and looking for an easy kickoff for my business. I plan to buy solely from individuals. Where are the regulations limited?
 
You find a state with low regulations and it's likely to be a state with little supply. In order for the scrap business to be successful, a relatively large population is required, otherwise it is quickly depleted, assuming there's much business at the outset. Such a population base is most likely to be heavily policed, with many restrictions controlling what you hope to accomplish, making it difficult to fly below the radar, which is what you appear to be hoping to do. You are highly unlikely to uncover any useful information in that regard by asking on this board, so don't be surprised if your question goes unanswered.

Harold
 
I can't speak for other states,but Texas only requires a state tax number,and the city requires you file a business name for the most part.
There are many "I BUY GOLD" businesses here.They even open them in small towns with population's of under 10,000 people.
When the supply dries up they move on to the next town.I have visited several of them and find that they only offer about 30% of spot price,if that.
They will set up a couple of display cases with low grade,but attractive gold plated jewelery and point to the prices in order to buy k gold for such a small price.They will even close up and move out on December 31 to avoid janurary 1 inventory tax. So ,I think it's safe to say you could set up a ,I buy gold ,in most states in much the same, or close to the same way.
 
I was going to vote Texas as well, although NC is trying real hard to remove almost all regulations from business, (and not always in a good way).
 
Thanks guys for explaining. Generally, I don't want to fly under the radar. I just look for a place where I can concentrate working on my business without thinking about the hassle coming with bureaucracy. Plus, I will also work online. I did some research and I think buying gold online like here (http://www.redollar.com) can work. Any experience?
 
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