by PawnMaster | Sep 30, 2020 | Best Practices, Business, business model, Pawn Shop, strategy
I’ve been asked many times, “Why do you carry all this stuff in your store”? I know they’re referring to what many would call “junk”—collectibles, clothing, kids’ toys, etc. I always answer the same way, “Because it makes me money and brings in a larger...
by PawnMaster | May 10, 2018 | Expanding, Pawn Shop, Pawn Shop Expansion
1. Location, location, location – Traffic, foot traffic, surrounding area are all things to consider. 2. Know your competition – Shop your competition and know what they’re doing well and not so well. 3. Signage – Anything you can do to catch a person’s eye… 4....
by PawnMaster | Apr 27, 2018 | Pawn Shop
My usual response to those asking for the man that runs the business consists of a smirky glaring stare as if I did not fully hear their request. It usually rolls into my explanation that I’ve been in the Pawn industry 29 years and through two ex-husbands. Which then,...
by PawnMaster | Dec 12, 2017 | Industry, Pawn Shop, Small Business, Tech, Technology
The success of a pawnshop is reliant on many factors. In today’s world, countless technologies exist that help improve exposure and traffic, encourage professional education, utilize e-sales channels and, above all, empower pawnshop owners to achieve what they set out...
by PawnMaster | Oct 3, 2017 | Human Interest, In The News, Industry, Pawn Shop
By a show of hands – how many of you got into the pawn business so you could help people? How many wanted to be the sole salvation for some families in a time of crisis? Instead of making money, who of you wanted to make a difference instead? I would suggest that...
by PawnMaster | Aug 28, 2017 | Business, Business News, In The News, Industry, Pawn Shop, Security, Small Business
Recently, I was confronted with two events which provoked this entry. First, a potential client had told me that all the people who work at the POS stations are responsible for their cash drawer. “If they are short, it gets deducted from their pay.” He then boasted of...
