Gold Buyers at the Mall
2.1 of 5 11 reviews
goldbuyersatthemall.com Mahwah, NJ 500 to 999 Employees

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Danny Baruch


18% of employees recommend this company to a friend
11 Employee Reviews
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Very hectic and unrealistic expectations

Anonymous Employee (Former Employee)

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

ProsNever a dull moment, worked with some great people both in the field and at the corporate office

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

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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It was ok but could have been better

Manager (Current Employee)
Atlanta, GA (US)

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

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

Consnot enough money for standing on your feet all day, commission was terrible, very micro-managed

No, I would not recommend this company to a friend

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

General Manager (Current Employee)

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

ProsYou 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.

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

Advice to Senior ManagementKeep 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.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Unrealistic

Store Manager (Former Employee)
Huntsville, AL (US)

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

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

ConsThey expect way to much for current market conditions.

Advice to Senior ManagementStart looking at what your employees are doing for your company, NOT what the numbers are saying.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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

Manager (Current Employee)

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

ProsIt 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.

ConsYou 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 Senior ManagementOne 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.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Very Good Learning Experience About the Gold/ Jewelry Industry

Sales Associate (Former Employee)
Babylon, NY (US)

I worked at Gold Buyers at the Mall part-time for 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

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Very Unbusiness Like People Running This Company

Team Member (Former Employee)
Monaca, PA (US)

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

ProsYou will almost certainly get hired if you apply! They are very desperate for people and have a huge turnover. If you are looking for a title jump you may get it here. I was with the company for three days and offered two different store manager positions.

ConsIn my store you are treated like a child. I personally have been in retail management for over 10 years now and did not appreciate this. There is very little that is organized, there are almost no procedures. You kind of fly by the seat of your pants and guess at what your doing half the time. The training is almost laughable. My "manager" seemed to make up the rules as she went along. My workplace was also very disorganized, no filing system, papers everywhere. Kind of makes you wonder when we are making copies of peoples licenses and collecting personal information. I would guess if they got audited they would not pass. I was also told by my manager that we are there to please the company, they are not there to please us. Believe me when I tell you that is true. They make no effort at all to better accomodate employees. If you like an well organized workplace this is not for you.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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This is a pathetic ,greedy company.

General Manager (Former Employee)
Vero Beach, FL (US)

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

ProsIt doesn't rain in the mall.You meet a lot of friendly people.It's a paycheck,if you can get a full one.

ConsAlmost every employee owes the company money,due to their pathetic bad buy policy,in which they
don't have to prove that it was a bad buy.Even though you pay for it,they don't give you the item so
you might be able to recoup your money,just like they did.You have to stand for many hours,and give out bags to every person who walks by.They run out of money regularly,and charge customers
a fee to collect their money.Stay away,unless you are really desperate!

Advice to Senior ManagementStop your lying and your phoney contests,where there's no money,only bragging rights

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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sloppy management and training

Team Member/Gold Buyer (Former Employee)
Daytona Beach, FL (US)

I worked at Gold Buyers at the Mall

Prosits a paycheck.. but not a reliable one... the mall atmosphere was always interesting. The best part was meeting and getting to know regular customers and mall employees.

Consthe system is always going down.. which mean you can't do your job or be clocked in.. I was shorted hours and pay... The problems existed mainly at a district level.. poor management training..

Advice to Senior ManagementProvide better training for store managers... evaluate how exactly you speak to the employees on a manager and team member level... give the employees a reasonable quota to meet.... commission structure is a joke..

No, I would not recommend this company to a friend

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A company with a decent idea but no follow through or funding to make it happen

District Manager -Upper Level Management (Former Employee)

I worked at Gold Buyers at the Mall

ProsIf you are looking to get an area manager title on your resume, this may be a place to do that. However, don't be fooled into thinking there's long term growth potential. If you have any interest in learning how gold is bought and sold, this may be a good place to do that as well.

ConsThis company started off with good intentions. They hired their senior management from other large companies and had a solid plan to make it work. However, some of the initial funding wasn't provided and even though the owners had money to make adjustments, they chose not too.

The company that is currently operating is one that does so on a shoestring budget and uses little to no resources to encourage and train their staff.

Here's a short rundown on what to expect if you are going for a job interview or get hired:

Sales Associate - You will need little to no interviewing skills. If you can stand and are willing to be on your feet all day, hand out flyers and talk to customers, you will get hired. These positions only require you show up, interact and buy gold. Nothing more. But be warned, if you take this job you can be held liable for buying something fake or paying more for something than it's worth. Normally, this type of policy could be ok, but when a company does about 30 minutes of training, there's simply no reason why someone should lose their pay for this. In addition, if you are working here you will find it very hard to make any real money. Expect nothing more than 2 or 3 dollars above minimum wage.

Store/ Kiosk Manager - Interview may be a bit tougher but anyone with some retail experience could get hired to do this job.
Very similar to the above post except you might get paid a few bucks more per hour. Management is very tough on the managers as they are expected to lead the pack and bring in customers when there may not be any. You will be held responsible for the store.

District Manager - This job will actually pay a decent salary but don't expect to earn any of the bonuses they offer. The actual interview process will be much more in depth and you will be lead to believe you will go to work for a real company. You will hear talk of expansion and future growth opportunities. Also, you may hear that this business is one that "will always be around" and during a recession everyone needs to sell their gold. This is somewhat true but the way this company does things makes it very difficult to succeed. Upper management will push you hard but will not provide all of the tools you need to succeed. In addition, expect to be asked to cover shifts at stores, do all of your own training and you can also be held liable for bad gold buys.

A few other key notes:

This company has been promoting itself as a "start up" for almost 2 years now. The biggest difference is that they don't have any real funding and cannot truly expand or provide growth without it. They do no advertising and are very limited in what they will do to help their employees.

-There are little to no benefits available. If you need health insurance, it probably won't be here. District managers may be able to have something but it won't be great.
In addition, there was no direct deposit available when I worked there and I'm not sure if there is yet. The company does not have enough money in the bank to cover the deposits for their employees to offer this service. There are many companies that still print checks, however they do tend to get them to their employees in a more swift manner. If there is a weekend or holiday, you will get your check late. In addition, if there happens to be an error on your paycheck, you will not receive the corrected amount until the next paycheck almost 2 weeks later.

I want everyone to be aware that I'm not a disgruntled employee seeking revenge. I would love for this company to succeed. Some of the people I worked with there are still my friends and associates. That being said, when I left I wasn't even given a "Thank you for your time" or "Keep in touch". My last week of work I basically continued to do my job but my bosses wouldn't even give me the time of day, even though we were on good terms.

I decided to write this note to serve as one of caution for job seekers everywhere.

 I know that times are tough in many places and any job can be viewed as a good one. However, be warned that this may not be the place for you. If you think it is, be sure you get answers to all of your questions before you start or before you leave another job. This one may burn you.

Advice to Senior ManagementPlease turn this into a "real" company if you want to succeed. I'm impressed that you are still in business but things cannot last with the way employees are "turned and burned". There are lives and careers at stake with this method and you are sending the message that you just don't care.

Think of what could be accomplished if you were able to spend money on hiring and training great, loyal employees. Think of what would happen if you advertised and drove customers to the stores, rather than having your employees do all the work at the kiosk.

This can be a very good profitable business and you could build something great here. I just hope that you are able to do it without running over too many people in the process.

No, I would not recommend this company to a friend

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