Filling the Knowledge Gap

Posted on 31 Jan 2018

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I believe the Pawnbroker Development program is important because there is so much, as a pawnbroker, that you need to learn and understand. From being out on the location what you understand is that there is a big knowledge gap, from the way business used to be as a pawnbroker to the way it is now. This program helps us close that gap. It helps us understand, "this is what you need to know" and let’s start to educate you in a way that is non-threatening and is going to help your business improve and be more successful.

One of the things I think this gap comes from is that the business has changed and when you’ve owned a business or done something the same way for so long, you continue to do it that way. There’s a combination of that and the other side of it is the younger generation taking over locations that were opened when this business was booming, seven, eight, nine, ten years ago. So, you’ve got people learning the business that didn’t come from the business. You’ve got people taking over, you know second generation owners and you have the old school pawnbrokers still kind of doing things the way they used to twenty, thirty years ago, and expecting the business model to be the same. 

Vernon Stading

Written by Vernon Stading

Vernon has a passion for helping businesses be more successful and that is why he founded Devoted Business Development and the Small Business Advisory Board of MN. He has a strong leadership background and has been helping business owners succeed and make more money for more than 15 years. Vernon has extensive knowledge in the retail, pawn, jewelry, financial services and hotel industries and he worked for two international franchise companies before learning the pawn industry. He got to learn from the pawn business experts who are looked at as leaders and revolutionaries in the industry. Vernon also met many other folks that were nationwide and international consultants along the way who have a lot of great ideas and suggestions on how to improve businesses in this industry. Vernon learned the business so well, that after leaving that organization, he started his own consulting firm with most our first clients being pawn stores. He was approached by several nationwide chains and asked to do merger and acquisition for them. He got to experience firsthand the amazing and fast-paced growth of small, medium, and a large sized chain by buying other organizations, fixing them and putting their name and brand on them. He was able to work with every type of location, from the 38,000 square-foot Taj Mahal pawn shops to the 2,000 square-foot hole in wall, and everything in between. In addition, he is an expert at helping business owners create processes, systems, policies and procedures that streamline their business and ultimately help them make more money with less work. Regardless of what your business needs are, he is an ideal candidate to help take your company to the next level.

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