"My name is Vernon Stading and I am the owner and founder of Devoted Business Development and we help pawn shops and jewelry stores make more money and be more profitable. I got into this business really kind of by accident, one of the fun stories I like to tell is that my background is actually in franchising.
I started in the restaurant and hotel world and through connections in business, worked my way into the accounting world where I was an executive for H&R Block. From there I got to meet people within the Payday Loan industry and the Pawn industry and the rest, as they say, is history.
It was kind of an easy transition for me. I used my merger and acquisition experience from the corporate world and put that to work within the pawn world. I was slated to basically come in and buy these pawn shops for the guy that I worked for and help him – help them make more money. Get them fixed; turn around operations and put my client's logo on them once the operation was fixed.
So we have a strong background in helping pawn shops turn around quickly so, if it’s a struggling business or even if it’s not a struggling business we’re able to find some things that are pretty glaring within an operation, just from an outside set of eyes to come in and help these pawn shops make more money."
Stay tuned in the coming weeks for tips for your pawn shop. With these tips in mind, you’ll be well on your way to developing a business plan that’s a force to be reckoned with.
We evaluate and train on these things and many more with our Pawn Shop Health Check!