PawnMaster Blog

Beyond the Shop: Qualify Your Loans

Posted on 16 Jun 2018

What are Best Practices for Forfeiting Items?

My recommendation for pulling forfeits is, “be consistent”. I feel that this task should be done daily even if you only have one or two items on the forfeit list. One reason for this is if it's done frequently, it's a small task. But if allowed to build up, it can easily get out of hand and become a chore.

Beyond the Shop: The Manager's Circle

Posted on 09 Jun 2018

You NEED A Facebook Business Page

You need a Facebook Business Page, especially if you don’t have a website. Facebook's more than two billion monthly active users make it an impossible platform for any business to ignore and let’s face it, if your customers can’t find you on line why should you think they can find their way to your business?

How I price a certified coin at my counter?

In this article I will briefly run down for you how I price a coin that would come in to my store if it were certified by PCGS or NGC. Most coin dealers believe that PCGS is the number one grading service followed closely by NGC. Two other grading services can be acceptable to most dealers also those being ANACS and ICG. All other grading services are what I would term “Wild Wild West,” meaning their grading standards can be loose.

Posted on 23 May 2018

“I salt my lots by throwing in Platinum to make sure my Refiner is honest.”

The first time I heard this, I was shocked! Then it was endless stories of pawn owner’s explaining how refiners didn’t find their platinum. So let’s talk about this elusive metal.

To start, sneaking metal into your refining lot is never a good idea, especially platinum group metals. The first, and most important reason is if the refiner is expecting gold and silver, a fire assay is done on your material to assess value.

Webinar: 10 Things You Need to Know When Expanding Your Pawn Shop

The Secret Sauce is Service Excellence

Every day we hear stories about vendors not helping their clients, not calling them back, and a host of other very frustrating and disappointing things, all of which are negatively impacting peoples' businesses. The Data Age/PawnMaster brand, company, and suite of products have been known for being world-class for the past thirty years. We always sit back and analyze how to improve. I recall an event held at the Ritz Carlton a few years back. I was walking to my meeting and in the hallway I saw three Ritz Carlton employees on their knees highly focused on removing a small piece of gum from the carpet. At first I said for the amount of money a room cost I would expect this but the establishment provided great value in so many areas. They don’t need to roll out three people to get a tiny piece of gum that cannot be seen removed. This is their strategy to customer service excellence and overall user experience. Let me be clear, customer support is a strategy that many miss the mark on in a big way.

What's Your Favorite PawnMaster Feature? Tonya Cardinali, Marketing

 

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