It’s summertime, and you’re ready to have some fun and sell some stuff! Let’s take a look at how to make a summer event worthwhile for everyone.
So it’s Summer, and sales are slow. In order to execute at a high level in today’s pawn world, brokers should always be focused on retail and the benefits that it can provide.
Aged inventory can be the death of your retail. No customer wants to see the same items every time that they come into your store.
Loan balance seems to be the main topic of conversation as of late….or lack of it. These “covid times” have created a climate of excess vs. need with the typical pawn customer.
In most situations, when you continuously do something for a long period of time, it can lose it's luster. In order to keep others, in this case your customers, engaged with your business, you should change things up every so often. Let’s use text messaging for example.
What is this text messaging stuff anyway? Yeah, everyone knows what texting is, and and we all use it every day, but have you ever thought about including your customers in your “friends list”?
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…