PawnMaster Blog

How to Write a Business Plan for Pawn Shops

A pawn shop can be a satisfying and profitable business. However, no matter what kind of business you plan on opening, you need a plan. Having a business plan is paramount to a successful beginning. You’ll need one to get investors, loans, or even business partners for your pawn shop. 

Why You Should Install Pawn Shop Software



When you’re running a pawn shop, you need to have the right software to help you run your business well. That’s where pawn shop software comes in handy. With this software, you’ll be able to handle everything from payments to receipts, and can even work on the cloud to make sure that all of your information remains safe. If you have doubts about installing it, read our guide to understand more.

Corporate Reputation Management: 6 Strategies for Owners & Executives

Your company needs to put its best foot forward in order to make a good impression. With more than 60% of your customers turning to mobile devices in 2019,  companies are under increasing scrutiny online and off.

Solutions to 4 Frequently Asked Technical Support Questions

 

Here at Pawnmaster tech support we strive to give our customers the best experience and customer service they can imagine! In doing so, we want to help increase your knowledge base so that you may be able to resolve some issues on your own, without having to depend solely  on  tech support! We understand that time is money! Some basic errors that you may run into on a day to day basis can be found below, with solutions to these errors.

 

Is Your Software Provider a "Ticking Time Bomb”?

 

The industry was given some unfortunate news about Dazzle Pawn this week. It is not only unfortunate for this person's loved ones, but also for all of the pawn brokers who have invested their futures into a one-man software shop without anticipating the consequences that are coming to light today. Of course we don’t expect the worst when it comes to things like this, but this is why it is important to ask solid questions before committing to any vendor.  Unfortunately, we have seen similar situations more often than we would like in our 28 years in this industry. Data conversions are part of the business for us but even with that, we never like seeing a fellow pawnbroker go through the stress of trying to get back up and running overnight if things were to go in a bad direction. As we have for a long time, we encourage our customers to shoparound and do their homework.

How to Combat Inventory Turnover Problems

 

Save more, make more.

What is inventory turnover?

Inventory turnover is a measurement of how many times the retail inventory is sold during a twelve-month period.

While total store turn rates are important to know, turn rates are much more meaningful when viewed at the classification level.

  • Jewelry
  • Firearms
  • Electronics
  • Art

Are You Getting the Most Out of Your Holiday Season?

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.

60th Anniversary of the Barcode

Because we all use bar codes in our daily routine, we wanted to share this cool,yet informative infographic about the history of the barcode that is now turning 60. As you know PawnMaster uses several different types of barcode scanners that help you manage your inventory. Happy Anniversary Bar code! Today is the 60th Anniversary of the barcode; and if you’re interested in learning more fun facts like the ones above as well as how the barcode came to be, its practical uses, and how industries have implemented the technology today, check out the infographic below.

Pawnshops expecting busy season

It's that time of year where things get bananas around the shop and the exchange of money really starts to flow. Will you, or are you ready as the influx of people start showing up ready to pawn, buy, or sell their items? PawnMaster can help you be that extra clerk, manager, or set of eyes you need when things get chaotic. Think of PawnMaster as your must trusted employee that always has your back! As we come into the heart of the holiday season, we are here to support you with any and all of your hardware and software needs. Feel free to contact one of our industry specialists for assistance 888-949-7296. Here is a great article we found about the upcoming holiday season.

City Council Is Requiring Pawn Shops to Keep Computer Records...

In one town in Kentucky, city council wants all pawn shops to keep computer records of how they got the items in their stores in an effort to reduce crime.

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