Gold Buyers at the Mall

www.goldbuyersatthemall.com
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Gold Buyers at the Mall Reviews

Updated January 25, 2015
Updated January 25, 2015
15 Reviews
2.5
15 Reviews
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Recommend to a friend
Approve of CEO
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Danny Baruch
3 Ratings

Employee Reviews

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  1.  

    Unfulfilled Promises

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - General Manager in Natick, MA
    Former Employee - General Manager in Natick, MA

    I worked at Gold Buyers at the Mall full-time (less than a year)

    Pros

    Hired quickly at a decent rate

    Cons

    Was promised an Area Manager position prior to starting. I was told to work as a GM to learn the business and maximize the location. I held up my end seeing as our location was top ranked within the district. They hired someone else and I left for a better job vs the Area Mgr. position after giving notice immediately.

    You approach every person at the mall with flyers all day every day as an associate and little management work if you are a GM.

    Advice to ManagementAdvice

    They were wrongfully taking money out of paychecks of associates who bought fake jewelry by mistake when they should have made a better effort to engage employees with effective communication, train more thoroughly with better material and ensure proper supplies are in place to keep knowledgeable employees/lower turnover, in turn also keeping bad buys down and margins up.

    Recommends
    Positive Outlook
  2.  

    It was a great experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Retail Manager in Midland, MI
    Former Employee - Retail Manager in Midland, MI

    I worked at Gold Buyers at the Mall full-time (more than 3 years)

    Pros

    I enjoyed the people I was able to interact with being the customers.

    Cons

    Customers not being satisfied with the buyback of their product that was offered to them. The reactions would be very dissatisfied.

    Advice to ManagementAdvice

    Find ways to keep the customer so that they do not go somewhere else. Make more perks to have them consider choosing this company.

    Recommends
    Neutral Outlook
    Approves of CEO
  3.  

    I miss you guys!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Gold Buyers at the Mall full-time (more than 3 years)

    Pros

    This career was great! Miss you all!

    Cons

    They went out of business!!

    Advice to ManagementAdvice

    come back!!

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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  5.  

    An "okay" first Sales job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Sales Associate in Springfield, OH
    Former Employee - Sales Associate in Springfield, OH

    I worked at Gold Buyers at the Mall full-time (more than a year)

    Pros

    Flexible hours, quality store managers, fantastic starting job in sales without a degree.

    Cons

    Hourly pay is minimum, and managers only get paid slightly more. Commission structure is a joke, and even top sales will not generate more than 20% added revenue.
    Layoffs when spot price of gold diminishes, constantly changing markets.
    Minimal benefits, No Vacation offered, Minimal internal growth.

    Advice to ManagementAdvice

    Flyers are not an efficient conversation starter. Regional managers are too hands on, Store managers should affect sales reps more.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  6.  

    Very hectic and unrealistic expectations

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Gold Buyers at the Mall full-time (less than a year)

    Pros

    Never a dull moment, worked with some great people both in the field and at the corporate office

    Cons

    Very "fly by the seat of your pants" mentality. Majority owner is very inexperienced in running a business and makes whimsical decisions not entirely based on facts but more based on emotion and looking at very limited data. Many of the managers I met, both district managers and upper-level managers, managed through fear and through bullying.

    Advice to ManagementAdvice

    Keep the majority owner out of the decision making process as much as possible if you want to turn it around and succeed.

    Doesn't Recommend
    Negative Outlook
  7.  

    It was ok but could have been better

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Atlanta, GA
    Current Employee - Manager in Atlanta, GA

    I have been working at Gold Buyers at the Mall full-time (less than a year)

    Pros

    worked in the mall so you got discounts to alot of places, met very interesting people and alot of tourists

    Cons

    not enough money for standing on your feet all day, commission was terrible, very micro-managed

    Doesn't Recommend
    Neutral Outlook
  8.  

    Unrealistic

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Store Manager in Huntsville, AL
    Former Employee - Store Manager in Huntsville, AL

    I worked at Gold Buyers at the Mall full-time (more than a year)

    Pros

    I had a chance to travel with the company, and as a GM really made some things happen.

    Cons

    They expect way to much for current market conditions.

    Advice to ManagementAdvice

    Start looking at what your employees are doing for your company, NOT what the numbers are saying.

    Doesn't Recommend
    Negative Outlook
  9. 1 person found this helpful  

    Gold Buyers At The Mall is a Great company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - General Manager
    Current Employee - General Manager

    I have been working at Gold Buyers at the Mall full-time (more than a year)

    Pros

    You get to offer people money for broken gold jewelry they will never use again. I've helped several people pay rent, gas money, extra cash for shopping and just the overall interaction with people gets them to smile when you make their day because they are shocked how we pay the most in the local area i work at. As a manager i get to work full time 40hrs a week and have a couple or Part Timers to help out.

    Cons

    As long as work hard you have a solid job and paycheck otherwise won't last to long here.

    Advice to ManagementAdvice

    Keep up the Contest and the "Original Black bags" are back they are the best. I think several of us missed them for a while keep this up and i promise our numbers will continue to rise. Thanks Danny for running a fun company to work for.

    Recommends
    Positive Outlook
  10.  

    Great Idea, Poor Execution - Won't Be Around Much Longer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager
    Current Employee - Manager

    I have been working at Gold Buyers at the Mall full-time (more than a year)

    Pros

    It can be a fun job if you like the mall setting --especially if you get a storefront vs a kiosk to run. As a manager you'll get opportunity to win some extra cash with daily contests and you can usually hire a decent staff --may take some trial and error due to the large turn over rate of the part-timers, but eventually you'll find a couple people to click.

    Cons

    You will get little to no support from senior management --especially in larger districts where the District Manager is constantly running from store to store. The only advertising available is in flyer form, which the company blindly thinks is the answer to all your problems: don't have enough people coming in with buys? Flyer more! Doesn't always work since the malls really tend to be dead during the weekdays, and only really pick up Fri-Sun.

    The company also doesn't offer direct deposit, as they cannot keep a large enough cash balance on hand to cover such a service. Instead employees get their paychecks on the weekend, and get to wait two days for the balance to show in their accounts after deposit.

    The biggest con however has to do with the way this company is run. At one point, corporate bragged at having over 200 locations across the country - now the number is around half that amount. This is a business that doesn't forgive growing pains very easily. If a store has a good year, and a good profit margin, it's expected goals will go up the next year. Those goals will steadily go up until they reach a point that the store cannot meet those goals. Also, if a store with a proven track record starts failing due to poor management, common sense would dictate that you replace that manager with a better one and let them turn the location around. Unfortunately, the company (or I should say, the president) has no patience with these kinds of business basics. Even if the location in question is beginning to recover, it will most likely be shut down under the new manager due to the actions of the previous one.

    This is a young company run by a young, inexperienced president who doesn't seem to understand basic business principles, or the concepts of growth and investment - and it shows. A basic Google search can pull up any number of lawsuits in regards to the company's business practices and labor violations. I predict that this company will continue to fail as the economy starts to recover. At this point most pawn shops and coin dealers can already beat their prices, and Gold Buyers doesn't have second-hand sales to fall back on when people stop bringing their gold to them.

    Advice to ManagementAdvice

    One of the company's many mantras is "Lead from the front" --basically stating that it's management's responsibility to lead & inspire the workers into performing better. Well, how about actually doing just that folks? So far what I've learned from this company's "leadership" is that they only care about how much money the handful of the people at the top can make at the expense of those that work for them. Their full-time workers barely make a living wage and have little to no benefits with no job security. Maybe if their president had some real-world job experience when it comes to actually managing people, there wouldn't be such a high turnover rate at the managerial level. Basic economics & people skills would go a long way here.

    Doesn't Recommend
    Negative Outlook
  11.  

    Very Good Learning Experience About the Gold/ Jewelry Industry

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Sales Associate in Babylon, NY
    Former Employee - Sales Associate in Babylon, NY

    I worked at Gold Buyers at the Mall part-time (less than a year)

    Pros

    - Friendly Staff- Where I worked

    - Mall environment based (Lunch was a short walk away)

    -Treated in a professional manner. Duties included many managerial tasks, good communication between managers and staff

    - Very Educational/ Sparked my interest in a career in Precious Metals

    Cons

    - Hourly Pay vs Company Profits

    - Commission structure not very appealing

    - You do work in a mall

    Recommends
    Positive Outlook

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