Anyone that owns or manages a pawnshop deals regularly in precious metal bullion products. Whether it’s one ounce of gold or one ounce of silver these items are easy to value, easy to buy and easy to liquidate when it comes time but are you really getting as much for your coins as you could be?
Several years ago I wrote an article for PawnLink.org that highlighted the growing frequency our pawnbroker customers were being exposed to and taken advantage of with fake bullion and replica coins. Many of these defrauded, poured, and extruded Precious Metal investment pieces started out as legitimate bullion products coming from reputable refineries and banks. Scammers would drill out actual Gold or Silver from these pieces and back-fill them with materials like Lead or Tungsten rods. Eventually, we began seeing scammers implementing higher levels of skill to produce replica coins and bullion through minting, electroplating, and even cladding over low value base metal to look like authentic precious metal currencies and investment bullion.
Data Age Business Systems, the developers of PawnMaster software, announced they have expanded their development team to meet high demand and massive growth due to market conditions stemming from a competitive business acquisition and continued organic growth. The new team members will utilize their expertise to expand upon the roadmap for the PawnMaster’s cloud-based inventory management and point-of-sale system, PawnMaster Ignite and continue to drive stable innovative products to the market.
We just had our annual Data Age awards dinner. Each year we recognize the performance of the Data Age team in appreciation of the work they have done with our clients. One of the awards we give out is our “Top Gun” award. This award goes to our top performing sales rep but it has so much more depth to it than just great revenue numbers.
PawnMaster has pricing options for every pawn shop. We know without a shadow of doubt that you’ll see immediate improvements in efficiencies, be able to identify gaps in processes, get forfeited items onto the floor and online faster so they sell faster. The list goes on and on. We know we may not always be the least expensive option. But what are you paying for?
There is a large portion of the small business community that believes their business will not benefit from a professionally designed website or it is not within their budget. These misconceptions are doing harm to your small business. Below is food for thought on why your small business needs a professional website.
One of the emerging issues pawnshops in the 21st century will confront is the acquisition and retention of motivated hourly employees. Obviously, there are several institutional avenues one can follow such as Craigslist, want ads and/or online services such as Indeed.com. But, what if the answer is internal? What if the solution is to make your store (in my words) an Attractive Pawnshop? Large, publicly traded companies that have a reputation for being a good place to work will always have plenty of candidates readily available and eager to work for them. Examples include Disney, Nordstrom, Southwest Airlines, UPS, The Container Store, and Whole Foods. Don’t forget, most larger companies all started as a single entity before expansion. So, the question is, what does it take to make my shop an Attractive Pawnshop?