When it comes to starting a pawn shop, many people think it’s much more difficult than it needs to be. As long as you plan ahead of time and prepare adequately, it can be a smooth and relatively straightforward process. Software like PawnMaster also comes in handy to help you organize various daily processes.
Pawnbrokers must follow strict regulations when it comes to buying and selling firearms. No matter your stance on firearms, it’s crucial that you follow all federal laws, such as holding an active Federal Firearms License from the ATF (Bureau of Alcohol, Tobacco, Firearms, and Explosives), or face the consequences. Keep reading to understand more about buying and selling firearms as a pawnbroker.
Although becoming a pawnbroker may be less challenging than many people would assume, there are certain obstacles you may encounter along the way. While you don’t need to complete a specific pawnbroking course, you do need to meet certain standards. For those with a criminal history or record, these standards may be much more difficult to meet.
In some ways, being a pawnbroker isn’t as complicated as you may expect. However, you might start to realize that there is a lot of knowledge about products that you need to know about. The primary skill a pawnbroker needs to possess is the ability to evaluate a wide range of merchandise from jewelry, diamonds, watches as well as tools and anything of value. Proper evaluation is essential in maintaining a healthy loan balance and establishing a solid retail profit center if an item forfeits. (more…)
If you’re thinking about starting a pawnshop and becoming a licensed pawnbroker, then you’re probably aware of the many laws and regulations you’ll have to comply with before you can even open your shop. One of the requirements for getting started as a pawnbroker, whether surprising or not, is a certain amount of money. (more…)
There are a few essential things to understand about the pawnbroker industry. Like every type of business, there are legal requirements and limits that you need to be aware of. In fact, the pawn business is a heavily regulated business model for most states, making the pawn contract a legal contract in that state. (more…)
When I began my career as a young(er) broker, I quickly discovered how much I didn’t know.
Simply put, text messaging is the easiest, least expensive, and most effective way to advertise in today’s society. There is no other form of advertising that can guarantee a 99% read rate, let alone have it happen within a matter of minutes.
Data Age Business Systems, developer of the industry’s leading pawn management software PawnMaster, is formally announcing that Len Summa is no longer CEO of Data Age Business Systems and is no longer affiliated with Data Age Business Systems/PawnMaster in any capacity, effective immediately as of September 22nd, 2021. The company wishes Len Summa the best in his endeavors as he moves on in his career.
It’s getting cold out, families are gathering, and business is booming. Sounds like someone did a great job marketing their store during the summer. In order to win at the end of the year, business owners should start making moves during the dog days of summer. Here are a few keys that will help you increase traffic during the holiday season.