Marketing. I could write that word in hieroglyphics and we would probably be as close to understanding it as we are in English.
I’ve been asked many times, “Why do you carry all this stuff in your store”? I know they’re referring to what many would call “junk”—collectibles, clothing, kids’ toys, etc. I always answer the same way, “Because it makes me money and brings in a larger clientele”.
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…
I have been thinking about this question since I first read Robb’s blog. It keeps hanging there in the back of my mind, waiting… irritating me.
Guerrilla Warfare is commonly defined as ”a wartime strategy involving a small attacking, mobile force, typically deployed against a larger orthodox military force with less mobility.”
By a show of hands – how many of you got into the pawn business so you could help people? How many wanted to be the sole salvation for some families in a time of crisis? Instead of making money, who of you wanted to make a difference instead? I would suggest that very few (if any) of us got our start with such philanthropic motives in mind. Truthfully, we all had large profits and multiple locations in our dreams, but a funny thing happened during the journey - we learned that pawn shops make a difference in our customers' lives.
Each year pawn shops can expect a spike in sales from Thanksgiving Day and throughout the Christmas season. This is a special time of year indeed, as item and jewelry sales spike on any given day as bargain hunters are out to fulfill their holiday obligations. Are you okay with the status quo or are you looking at last years’ numbers and trying to blow the doors off of them? This is a unique time of year to pull out all the stops; the choice is yours. Shops can generally see upwards of 30% of their total annual sales revenue during the holiday season each year. Do you have the data points available to you to capitalize on this unique opportunity that you have in front of you? Here are a few things to think about as you ramp up for this holiday season.
With all the unfortunate school shootings and other events that have prompted congress to push stronger legislation on gun control, this article shows how that has created a huge spike in firearm sales in the last few months. For those of you who sell guns at your stores, have you seen a spike in sales as a result of articles like this and other things you have been hearing on the news? PawnMaster pawn software does a great job of helping you stay compliant with our gun log and police reporting functionality. If you would like to know more about how we can help your store call us now 888-949-7296 or leave us a comment below. We would love to hear your comments or concerns.