PawnMaster Blog

How You Can Adapt to the Times Right Now

Posted on 04 Aug 2020

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I remember when I was “new” to the Pawn business. Looking and studying the Sunday paper sales flyers for pricing information and product knowledge. Google wasn’t the “go to” for everything yet.

It was a much different time. Now it's difficult to remember what it was really like.

As Pawnbrokers, we know one thing to be true.

“Change isn’t good or bad, it is simply inevitable.”

We qualify, we pivot, we change when we see a need for change. It's one of the things that I love about this business, and now when we see the world around us going through what seems like “constant” change, what do we do? How can we adapt?

As always, my advice is first, “do what you feel is right for YOUR business.”

That being said, I would also say that I love opportunities to get better. Actually, I love opportunity period.

I see this as an opportunity to be better.

Think about what your business went through, and think about ways that it “might” have been made easier. Text messaging? Better technology? More training? How were you able to remain in contact  with your customers and keep them engaged with your business? How do they know what your “new normal” will be?

The business will be different moving forward, we need to adapt. I don’t believe that it is really a choice to be made, but rather, a choice that is being made for us.

What is different with the way that you do business now? Curbside service? Payments remotely? Perhaps you are being a bit more lenient with your customers and due dates? What matters most is that you are able and willing to recognize the change, and incorporate it into your business moving forward.

Dave Larson

Written by Dave Larson

Dave’s background in the collateral loan industry spans out more than 20 years. He began as a District Manager for a large chain of pawn shops in the Southeastern United States. There he was promoted to Director of Operations, overseeing all of North Florida and the Tampa Bay region. Taking the knowledge he gained as Director of Operations, he purchased his own pawn shop that he ran for eight years until making the decision to sell. As the current Director of Client Development for Data Age Business Systems, Dave brings a great deal of pawn industry knowledge to the table. Using his own experiences buying and selling a pawnshop, to overseeing the operations of a large statewide pawn shop chain, to working in pawn consulting, Dave works hand in hand with pawnbrokers to assist in their successful development.

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