One of the most frequent questions I get when doing training on inventory management is, “What’s the difference between a “Bulk item” and “New item?”
A: This is a percentage representing the return on total investment for each customer. When we make a loan or a buy with a customer, we are investing in their likelihood of redeeming the loan or at a minimum, the value of the collateral. When the loan is redeemed, the shop will see a 100% return on investment plus the interest.
One of the most frequent questions I get after a shop has been using PawnMaster for a while is, “How do I undo a payment?”
Steve Richards had been using Premium Software to run his gun and pawn shop since 1990, but he found that it couldn’t keep up with his expanding business. Steve needed a software product that was able to change with the nature of the pawn business, so he turned to PawnMaster. The stability and reporting power of PawnMaster was exactly what Steve was looking for in a software product.
PawnMaster has a tool that helps pawnbrokers get the most from their customer data called the Customer Snapshot, that little box on the right of the New Pawn screen that is displayed after selecting a customer. It lists the number of active loans, number of redeemed and defaulted loans, as well as the number of buys, redemption ratio, return ratio and total sales in dollars. This is important information. This is a quick-glance record of how your customers are treating you.
Bill Daigle is the general manager of Parlour Pawn, overseeing almost 30 employees in several different departments. After initially having a difficult time finding a pawn software that could keep up with their expanding inventory, Parlour Pawn turned to PawnMaster. With PawnMaster’s bin location system, Bill and his staff are able to safely, securely, and easily manage their 15,000+ pawns.
Martin Strasser had been using a custom-designed pawn software for years, but development costs and the amount of inventory he was dealing with led him to look for a stable platform with superior support. After researching PawnMaster and meeting with our team, Martin felt confident that he chose the best pawn software for his ever-growing business.