Thinking back on how the pawn business has changed over the last 20+ years… it is amazing. Many deals that were made years ago were by chance and by educated guess. We didn’t have the ability to “look it up online" or “call an expert” because a quick decision had to be made. This often made for some big wins and big losses. Here’s a couple that stood out over the years…
A friend asked me the other day, “What would you tell your younger self?” She was specifically referring to my prior work life. It was a very valid question, but one that I had never thought much about.
A website is the gateway to your business. For many consumers it is their first impression, and we all know what is said about first impressions.
Setting up your retail store is a tricky objective. There are two main points that need to be addressed:
- Setting it up for security
- Setting it up for maximum profitability
Hiring – what to look for and how to do it?
When the candidate shows up at your store, let them wait a few moments on the sales floor. Watch how they interact with employees and around customers.
Retail……It’s a mindset! It’s that simple. It starts with the willingness to set goals, plan daily, and focus on the basics.
Relationships are built from the heart. You have to want to help others and make the world a better place. Try building a relationship solely on financial gain and it will most certainly backfire. This is where a lot of business owners fail. Real recognizes real. Whether it be in nature or inside your financial/retail location.
What happens in Vegas stays in Vegas. This may be the case, but I have taken some thoughts and ideas back to sunny Florida with me.
Hiring new staff members for your store can be challenging; believe me, I know. But there's more to just bringing the right candidates into your shop, you need to know how to retain them while helping them to gain confidence in our fast-paced (and at times stressful) work environment.
When it comes to running a successful pawn business, one of the most important skills for a broker to have is the ability to qualify their customers. Qualifying your customers is like vetting a new hire; you need to see if it's going to be a good fit.