Tuesday, December 29, 2009
Been a week....
ok ok been a week but it's been productive....christmas was great got a new leatherman (very cool) and spent some time with family. Pawn shop is doing well don't really have anything to compare it against but we are purchasing 800-2000 per day from the street. We really don't have a lot of pawn yet but we are getting 3-5 people a day in off the street.
Put an ad in craigslist for an apprentice that got a few responses. You will notice the ad is very specific as to how to get an application. The phone calls for the ad are very funny because I just basically berate them for being stupid and then I send them to another pawn shop across town. I know that might be mean but that pawn shop deserves it. I went in about 3 weeks ago looking for merchandise and was told to F*^* off, so there you go.
Eric is working out well and learning new stuff everyday, not bad for a brother in-law. I think he likes it also.
Iron doors installed tomorrow and hopefully the debit machines start to work soon.
Put an ad in craigslist for an apprentice that got a few responses. You will notice the ad is very specific as to how to get an application. The phone calls for the ad are very funny because I just basically berate them for being stupid and then I send them to another pawn shop across town. I know that might be mean but that pawn shop deserves it. I went in about 3 weeks ago looking for merchandise and was told to F*^* off, so there you go.
Eric is working out well and learning new stuff everyday, not bad for a brother in-law. I think he likes it also.
Iron doors installed tomorrow and hopefully the debit machines start to work soon.
Monday, December 28, 2009
Sunday, December 20, 2009
Huge Saturday and I have 2 subscribers!
Man what a huge first Saturday. Eric and I were in a panic until about noon we were afraid we were going to blank for the day. Then it was like someone left the gate open at the old folks home. We had four walk-ins, six CL buys for over 1100.00 and my family came by to see the progress avery great day!. This blog is also attracting some real characters who are emailnig me and now we have two subscribers. It takes all kinds I guess. Saturday we bought.......
- tools
- a Trikke
- camera
- game boys (2)
- PS2
Friday, December 18, 2009
busy busy
Wow, that was a fast week, bought about $4,000 off the street,
ugly bike and a Trikke
ipods, lcd tv, computer, zunes, game boys, 25dvd's
guns from Lipsey's
even a hopped-up Yamaha Zuma!
and had our first real sale! Yes it was the Epiphone mandolin. everyone thought I was crazy for ordering new mandolins for the shop but I was vindicated.
I made exactly $50 bucks profit.....I'm rich! It was good we had a lot of walk in traffic looking for stuff we obviously don't have yet. I also made a buy over at my friends at International Diamond and my good friend Ken Duval at The Watch Studio. Great people. Now for a Saturday, what to expect......We also paid for an ad to run the first week in Jan.20k viewers it is a sticky note that goes on the front page that looks like a to do list kinda funny I'll keep you up on the ROI.
Tim
ugly bike and a Trikke
ipods, lcd tv, computer, zunes, game boys, 25dvd's
guns from Lipsey's
even a hopped-up Yamaha Zuma!
and had our first real sale! Yes it was the Epiphone mandolin. everyone thought I was crazy for ordering new mandolins for the shop but I was vindicated.
I made exactly $50 bucks profit.....I'm rich! It was good we had a lot of walk in traffic looking for stuff we obviously don't have yet. I also made a buy over at my friends at International Diamond and my good friend Ken Duval at The Watch Studio. Great people. Now for a Saturday, what to expect......We also paid for an ad to run the first week in Jan.20k viewers it is a sticky note that goes on the front page that looks like a to do list kinda funny I'll keep you up on the ROI.
Tim
Monday, December 14, 2009
training day
Today we paid Pawnmaster to come by and give us an 8 hour tour of the software in the shop. Holy cow, I guess if you improve on something, the same thing , for 22 years it gets good. This software has almost every imaginable option and situtaion covered.
On the business side we had a gold customer, a guy looking for an AK, we bought a vintage schwinn bike and some guy came in with a huge cordless hammer drill, but he could not demo it because it was dead. Good day for not marketing. The people at Pawnmaster were awesome and Eric and I feel real good about being on our own.
Big day tomorrow we are going to have a regular day and see how it goes. Sink or swim, we shall see.
On the business side we had a gold customer, a guy looking for an AK, we bought a vintage schwinn bike and some guy came in with a huge cordless hammer drill, but he could not demo it because it was dead. Good day for not marketing. The people at Pawnmaster were awesome and Eric and I feel real good about being on our own.
Big day tomorrow we are going to have a regular day and see how it goes. Sink or swim, we shall see.
Friday, December 11, 2009
ok I am a pawnbroker for real now
Well we started the marketing plan today even though Pawnmaster was not functioning properly yet. I bought a ipod and some dvd's grand total 180.00 retail maybe 300.00.
30 days from now we will do an update and see how we did. 4 walk ins and 1 guy who literally threw the door open and screamed "do you buy paint sprayers" and then ran off. You couldn't make this stuff up.
We only had an hour to really attack the plan but we generated a lot of action. Still nothing, and I mean nothing but some guitars in the store.
We did have one nice old lady come in present us an old 14k ring with some small diamonds oone missing. Because the scale was not working I sent her to the "we buy gold" guy around the corner. I told her that the going reate was around 12-15/gram and to make sure and see the scale.
In a matter of minutes she is back and tells me that he offered her 60 dollars and "said" the ring weighed about 4 grams but she couldn't see it.......hmmm. Wel a least I know how much the gold guy pays.
All in all a great start.
30 days from now we will do an update and see how we did. 4 walk ins and 1 guy who literally threw the door open and screamed "do you buy paint sprayers" and then ran off. You couldn't make this stuff up.
We only had an hour to really attack the plan but we generated a lot of action. Still nothing, and I mean nothing but some guitars in the store.
We did have one nice old lady come in present us an old 14k ring with some small diamonds oone missing. Because the scale was not working I sent her to the "we buy gold" guy around the corner. I told her that the going reate was around 12-15/gram and to make sure and see the scale.
In a matter of minutes she is back and tells me that he offered her 60 dollars and "said" the ring weighed about 4 grams but she couldn't see it.......hmmm. Wel a least I know how much the gold guy pays.
All in all a great start.
Thursday, December 10, 2009
aghhhhhhh I hate new stuff......
Well my day was interesting. First we start with an 830 meeting to manage and try and buy a competitors business. In my actual money making business life I own a large PEO(employee leasing company). We have 1500 employees in the state of Florida hoping to add more with this aquistion. That went great looks like it is something that is going to happen in the next 10 days....yea! Get to the pawn shop by 10am to start training for the software Pawnmaster oh the meeting was at 9am dammit. Ok no problem lets start now. Nope the server is not responding and they have to reshedule till tomorrow and take away the server. Ok lets clean this place up.
Take a look:
about 11am the IT guy comes back with my server.......sweet now its really on for training on friday.
more cleaning then ......I get a couple of characters that come in with fake watches thinking I just fell off the truck.
great first customers are con artists this is whee the dark music would start in the movie.....get out of the pawn shop, just get out now.
then pawnmaster calls to check on the new server it's locked up tighter than my first girlfriend on prom night ....6pm Im going home. Pawnbroker great idea ;/
Take a look:
 |
| Big Tim's Pawn www.bigtimspawn.com |
about 11am the IT guy comes back with my server.......sweet now its really on for training on friday.
more cleaning then ......I get a couple of characters that come in with fake watches thinking I just fell off the truck.
great first customers are con artists this is whee the dark music would start in the movie.....get out of the pawn shop, just get out now.
then pawnmaster calls to check on the new server it's locked up tighter than my first girlfriend on prom night ....6pm Im going home. Pawnbroker great idea ;/
Wednesday, December 9, 2009
Pawnmaster
Well today I got the point of sale system installed. It's called Pawnmaster and it basically does all the hard work for you. Keeps you legal, reports, gun log etc. I have scheduled 8 hours of training lined up for tomorrow. Pawn university in a day.......wow.
Got the jewelry testing and display equipment today and finally got the AC working. Now I basically have a 5000 sq. ft. store with almost zero mechanidise and 1 employee who has never been in a pawn shop (brother in-law) until recently.
I am a retail genius.
We did have a couple of real characters walk in off the street today and look at the guitars. I didn't have a way to sell them anything yet so I didn't push, it was encouraging though. We are going to use the internet and telemarketing to get foot traffic going. Between the website www.bigtimspawn.com and calling craigslist.com and calling ads from the local fish wrapper we hope to get 30 pairs of feet over the threshold everyday, that is the goal.
I am seeing light at the end of the tunnel, although this has taken much longer than we hoped I hope to report my first sale and pawn by the end of this week!
As a closing note, regardless of how much money and experience and business acumen you have I don't think this would have been possible without the support of my wife. It's always been MY dream to be a pawnbroker not hers, I love her more than ever for helping me make it attainable.
Got the jewelry testing and display equipment today and finally got the AC working. Now I basically have a 5000 sq. ft. store with almost zero mechanidise and 1 employee who has never been in a pawn shop (brother in-law) until recently.
I am a retail genius.
We did have a couple of real characters walk in off the street today and look at the guitars. I didn't have a way to sell them anything yet so I didn't push, it was encouraging though. We are going to use the internet and telemarketing to get foot traffic going. Between the website www.bigtimspawn.com and calling craigslist.com and calling ads from the local fish wrapper we hope to get 30 pairs of feet over the threshold everyday, that is the goal.
I am seeing light at the end of the tunnel, although this has taken much longer than we hoped I hope to report my first sale and pawn by the end of this week!
As a closing note, regardless of how much money and experience and business acumen you have I don't think this would have been possible without the support of my wife. It's always been MY dream to be a pawnbroker not hers, I love her more than ever for helping me make it attainable.
Monday, December 7, 2009
Even more guitars
In this pic from left to right is an Epiphone DR1000, a Ibanez RG120, Fender Starcaster (great sounding cheap guitar), the bass is a Ibanez, the mandolin is an Epiphone MM300, then the almighty Epiphone Casino for you Beatles fans, and finally a solid body gold metallic Gretsch electromatic. How about that selection for a pawn shop!
We have guitars!
We got our first delivery today of guitars and some of them want to come home with me! In this picture you will see a Fender 290sce that has big sound and builtin fishman preamp with tuner and phaser! Next to that is a Takamine eg333 with beautiful maple top and then a really cheap fender 12 string. Further to the right is an awesome Gretsch semi-body Electromatic w/Bigsby and a lot of attitude. The bass is a Schecter Stilleto. Of couse you can see the empty cases but not for long.
Saturday, December 5, 2009
Federal Firearms License
OK now I'm real trouble, I have an FFL and I can can mess you up! What that means is a I can buy and sell most handguns and long guns. Paperwork is crazy but it is worth it. One of the advantages is that you get the best pricing on guns but if you mess up the paperwork, it's your ass.
The guys over at the ATF where you get the license are the best. Yah it is a body cavity search but if you are serious about guns you get the license.
The guys over at the ATF where you get the license are the best. Yah it is a body cavity search but if you are serious about guns you get the license.
Tuesday, December 1, 2009
Monday, November 30, 2009
First delivery of merchandise
Well we got our first merchandise to sell/give away at the shop today. I got 200 knives form the site liquidation.com and they are very cool. We will have a big sign on the building that offers a free gift for first time visitors. I think that will go over well, we'll see.
Tomorrow the display cases and shelving comes and we are on track to have the software installed this week. Forms were ordered from Burrell, jewelry is on the way and guitars are coming, I can feel it now.
Tomorrow the display cases and shelving comes and we are on track to have the software installed this week. Forms were ordered from Burrell, jewelry is on the way and guitars are coming, I can feel it now.
Thursday, November 26, 2009
Happy Bird Day!
Well, for an update we have electricians and all sorts of cool stuff happening. The software is coming next week, the sign is on its way. Cabinets are coming and so are the shelfs and gondola. Look out Pinellas Park.
Sunday, November 22, 2009
so what does it take to start a pawn shop?
I hope you're not trying this but I am and it's frustrating. You need these (not in this order)
- a wife that completely believes in you....really
- money, cash not credit, and lots of it
- a building, here is mine Big Tim's Pawn
- licenses.....Pawnbrokers license, occupational and if you want to deal in firearms a federal firearms license
- pawnbrokers insurance
- safes
- security system
- displays and shelves
- software
- employees
- did I mention cash?
- membership to the state and national associations
- be completely insane....check
License in hand look out world.....I'm a pawnbroker
Well big thanks to the Florida department of agriculture and consumer services. Seems that they have found a way to grant us a pawnbrokers license on the 89th day of my application. After getting the Florida Pawnbrokers Association and my lawyer involved. So the cabinets are on there way the sign is being made and merchandise is on the way also. The thing that is holding us up now is the software we are going to use, Pawnmaster. I really hope to have the store open by December 7th. The federal firearms license is working its way through the system but I have spoken with them and I know there is no problems with it. So, I'm a pawnbroker now I have no one to blame but myself.....get more info at www.bigtimspawn.com
Saturday, September 5, 2009
does anyone read this stuff?
Well I'm going to write about it anyway so years from now I can read this and laugh. So far starting a pawn shop has been a ride. Although I have never owned one I have the jewelry experience and nothing is going to stop me. So ride along if you wish much has happened since the beginning but you will get up to speed soon.
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