How to Start, Run, and Grow a Reputable & Profitable Pawnshop Business

Download or read book How to Start, Run, and Grow a Reputable & Profitable Pawnshop Business written by Carl Eddlemon and published by . This book was released on 2020-05-13 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to Start, Run, and Grow a Reputable & Profitable Pawnshop Business Are you looking for a career that can bring long-term profitability? Are you concerned about starting a business that will outlast economic hardships? Pawnshops were one of only a few institutions in the Great Depression-era that provided cash as the banks started to fail, and people were getting rid of cherished and valuable items in order to pay debts. Today, pawnshops are still the main source for people who want to turn items into cash. Gold, silver, guns, collectibles, antiques, and electronics are items that are bought, sold, traded, and borrowed against as collateral. These are items that the average American probably owns many of. Even in times of a "slow economy," one business has withstood the test of time - pawnbrokers. People will always be in need of a quick buck, in the form of a pawn loan or selling their high-end possessions. These loans might be to pay for bills or to generally make ends meet for a short while. You could provide this needed service for your neighborhood by opening a business as a pawnbroker. There are plenty of business opportunities if you are looking to start your own business. I've researched plenty of options. After considering the pros and cons of many, I settled on what I felt was the best option to open a pawnshop. This may sound like a unique and possibly odd business choice, but it is actually a sound business decision. Pawnbrokers are the preservers of history. They provide an excellent source of unique items that collectors won't find anywhere else. Each piece that walks through the pawnshop doors might be a priceless gem that no one else has ever seen before. Pawnshops are places where you can find history, antiques, jewelry, and other items that have often been handed down through generations. Owners may actually know the source of items or offer stories of where the items come from. In my book, I will guide you through the process of establishing your own pawnshop from scratch. You need not have any business experience to start this business, just a desire to challenge yourself to create a business that can grow and thrive. You Will Learn: A brief history of pawnbroking What a pawnbroker is How the pawn process works What you should know to start your own business How to craft a business plan that works What your startup costs could be How to deal in gold, silver, guns, antiques, collectibles, electronics, and jewelry How to deal with employees to staff your new shop How to handle marketing How to choose a good POS How to grow your pawnshop business As an added bonus, I have also included an appendix of requirements for pawnbrokers listed by state. After you read this book, you should have a much better understanding of what becoming a pawnbroker entails. What are you waiting for? Click "Add to Cart" now. That's the first step to achieving your entrepreneurial dreams! For a very limited time, when you purchase the paperback book, you can download the Kindle version for FREE, just as a special thanks to you.