Part of being a business owner is having a plan. I've learned the hard way that you always have a plan you just just are not aware of it sometimes. And the worst one of all is no plan because without one you will surely end up exactly where you deserve do be.
My plan in starting a pawn shop was multi-part.
People know when you are being honest. As a pawnbroker you LOTS of opportunity to really rip people off. As of right now we have done almost 100 transactions and you can see in the customers eyes when they come in,fear, and really feeling out of place. They come into the store with their guard on high alert. But if you talk to them like they are family things change.
We have a customer that has been into the shop three times in five days already we call "guitar Joe". Joe has sold us a cool mid 80's Fender amp and hung out to talk. Saturday, Joe comes in and says he would like to thin the herd of guitars in his house and wants to sell his Fender Telecaster.
Now for those who don't know the telecaster is an iconic instrument with a long list of credits with an unmistakable sound. The cherished instruments depending on where and when they were made go from 100 to many thousands of dollars. Joe's pride and joy is a 60th anniversary black and white beauty. After a little testing Joe tells me he what he wants for it and I ask him why he doesn't sell it himself. Joe tells me that even though I might only have it for awhile he knows I'll take care of it, and he thinks I'm an honest guy.
I know that after a little work I'll make a few hundred from the guitar but the trust that Joe showed in me was worth its weight in gold. Being a Pawnbroker is kind of cool. I've always been pretty good at the things I do in life, but this one feels different. More to come....
My plan in starting a pawn shop was multi-part.
- I've always wanted one. I know that sounds weird but when I was a kid(younger) I loved to goto them and look for rare guitars and coins. Never really found the 100.00 Les Paul but the search continues.
- I really suck at picking stocks so hopefully I can invest some money in the shop and make a good return.
- I can not remember to take out the garbage most of the time, yet I can tell you the difference in mintage of 1964d vs 1964s dimes. I can spot a fake Rolex at 30 feet. My depth of knowledge of all things completely useless is only helpful in a pawn shop.
- I've always been pretty good at marketing and seeing what doesn't work.
- I am completely and utterly unemployable, so this better work.
People know when you are being honest. As a pawnbroker you LOTS of opportunity to really rip people off. As of right now we have done almost 100 transactions and you can see in the customers eyes when they come in,fear, and really feeling out of place. They come into the store with their guard on high alert. But if you talk to them like they are family things change.
We have a customer that has been into the shop three times in five days already we call "guitar Joe". Joe has sold us a cool mid 80's Fender amp and hung out to talk. Saturday, Joe comes in and says he would like to thin the herd of guitars in his house and wants to sell his Fender Telecaster.
Now for those who don't know the telecaster is an iconic instrument with a long list of credits with an unmistakable sound. The cherished instruments depending on where and when they were made go from 100 to many thousands of dollars. Joe's pride and joy is a 60th anniversary black and white beauty. After a little testing Joe tells me he what he wants for it and I ask him why he doesn't sell it himself. Joe tells me that even though I might only have it for awhile he knows I'll take care of it, and he thinks I'm an honest guy.
I know that after a little work I'll make a few hundred from the guitar but the trust that Joe showed in me was worth its weight in gold. Being a Pawnbroker is kind of cool. I've always been pretty good at the things I do in life, but this one feels different. More to come....
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