Success story: Precious metals company grows revenue to $200 million

FROM THE UPS WEBSITE

"We are using UPS Proactive Response not only to transform our business, but to transform the precious metals industry," says Tarek Saab, chief operating officer and co-founder of Texas Precious Metals LLC, and a finalist on the fifth season of the NBC reality show The Apprentice.

For Texas Precious Metals, using an effective, quick and secure method of delivery is a priority.
Based in Shiner, Texas, the company began in 2011 as a precious metals wholesaler and quickly expanded into the retail market, doing about $200 million in business in 2013. The company is recognized by the United States Mint as a national bullion dealer and a market maker for U.S. Mint products.


"We believe that UPS Proactive Response Secure has been critical to our phenomenal growth and, even more importantly, UPS supports our business philosophy – we really see it as a partnership vital to our delivery process," Saab says. "The speed of delivery and high level of security, in tandem with the insurance protection from UPS Capital (/UPS-Ext-UPS-Capital/)®, go hand in hand to ease both our clients' anxieties and our own."

Securing customers' savings

"We understand that people investing in precious metals may be sending us their life savings, so we designed our supply chain for speed and customer reassurance," Saab says. "Today, the industry's average delivery time, from when the customer wires the funds to delivery of the package, is normally six to 12 weeks, which is incredibly frustrating to the customer. It holds the customer's funds at risk and makes the buyer very vulnerable."

READ FULL ARTICLE


Sorry, you must be logged in to post a comment.


LIBRARY POSTS   (SEE ALL)

In the early 1970s, rising prices of copper forced the US Mint to consider alternative metals for the one cent coin. The Mint was spending more than one cent to produce each one cent,...
The economic turmoil of the Civil War drove most small-denomination coinage out of circulation. Even one cent coins were hoarded, perhaps because they were the only remaining...
In the early 20th century, the US Mint frequently issued commemorative coins (usually half dollars) on behalf of various organizations to raise funds for a specific project. But...
2016 full-year gold demand gained 2% to reach a 3-year high of 4,308.7t. Annual inflows into ETFs reached 531.9t, the second highest on record. Declines in jewellery and central...