Why Pawn Shops Need Technology

| November 28, 2017

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The success of a pawnshop is reliant on many factors. In today’s world, countless technologies exist that help improve exposure and traffic, encourage professional education, utilize e-sales channels and, above all, empower pawnshop owners to achieve what they set out to do and allow them to be current while maintaining a high level of productivity. Pawnshops that want to stay relevant know that they must incorporate these technologies into their growth strategy.  In doing so, they reap additional benefits that keep them ahead of their competitors who fail to embrace technology, including:

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Fake Gold

| November 22, 2017

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GOLD CHAIN.jpgTo the right is a gold chain that GEIB received in with a melt lot. We noticed the chain, along with a few other pieces but something about this piece in particular just didn’t add up to being “RIGHT”, so we went a little further on this rope chain. (more…)

Why Pawnbrokers Should Use Social Media to Sell Inventory

| November 16, 2017

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Who can remember keeping the ads in the Sunday paper and using these to value items coming in the door, especially as a price guide for inventory coming out for sale?  Ahh, talk about the good ol’ days!  Customers would come in and see a TV that looked to be a good deal, haggle a little, and buy it!  How times have changed!  Now, everything out for sale in your store can be price checked with eBay, Amazon, or any other retail store in a matter of minutes. 

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The Manager’s Circle

| November 13, 2017

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Does anyone out there know what the Manager’s Circle is?  If you’ve ever worked for me or know me professionally, then you absolutely know this concept.  It’s an imaginary circle, between the pawn counter and the front door where the manager resides while at work.  Why?  Because when a customer comes in to get a pawn, I want three things to happen:

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Business Observer with Vernon Stading – Volume 1

| November 8, 2017

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“My name is Vernon Stading and I am the owner and founder of Devoted Business Development and we help pawn shops and jewelry stores make more money and be more profitable. I got into this business really kind of by accident, one of the fun stories I like to tell is that my background is actually in franchising.

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5 Tips for Planning Your Upcoming Year

| November 7, 2017

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As year-end approaches, business owners often get pulled in many directions. In the retail sector, this is when sales typically peak. This finds many business owners working more hours in their shops while spending the little free time remaining readying for the holidays and gathering together with family and friends. What can be forgotten in the midst of the season’s hustle and bustle is the critical task of business planning for the upcoming year. Even a small amount of planning in the following areas can provide your business with a roadmap for success.

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