I’ve seen it more times than I care to remember—a room filled with pawnbrokers, and the question gets asked, “How many of you do regular inventory audits?” Only a few will raise their hands. Sadly, fewer yet will attest to using inventory reports generated by their software to MANAGE their inventory. It’s safe to say that if someone wanted to increase their cash flow quickly, it would be done on the inventory and sales side of the business. Let’s face it; nothing is going to instantly change the amount of cash coming in from service charge payments and redemptions. Sure, there are long term strategies that can increase those but creating that buying frenzy and getting merchandise off the shelf quicker is the key to making quick cash! (more…)
When “Plan A” is Dead
How much does it cost you when Plan A fails and you are left to figure out how to recover if a vendor goes out of business or a new regulation is enforced? What is your Plan B?
For many customers in our industry, Plan B was making sure Plan A works, especially when it comes to relying on vendors. As we have seen in 2016, the pawn industry has experienced some unsettling events. With new compliance regulations and new legislations, vendors going out of business or being taken over, you want to make sure your vendors are in your corner to help you keep your business running smoothly. (more…)
What’s Your Favorite PawnMaster Feature? Len Summa, CEO
Sales Spotlight: Two Kinds of Pressure
There are two types of pressure. There is pressure you feel and pressure you apply. Assuming we are constantly refining our trade, enhancing our knowledge and working smarter, applying pressure in a competitive opportunity boils down to proper positioning and differentiating yourself from the competition. (more…)
Sales Spotlight: Negotiation Wisdom
Let me start off by saying negotiation is a two-way street. Our mission is to provide a fair and reasonable solution for our customers, but unfortunately we can’t give our software away because we still need to continue to build and support their needs on an ongoing basis.
Need a Better Way to Reach Shoppers and Boost Sales this Holiday Season?
Text messaging can help. As a business owner, you must use every opportunity to communicate with your prospects, customers, and VIPs. Whether you send plain text messages or texts with hyperlinks directing your customers to a landing page of your choice, mobile marketing can attract more buyers throughout the holidays. What’s your plan for Black Friday, Small Business Saturday, Cyber Monday, Christmas and even post-holiday retail sales?
Customer Profile: A Pawn USA
Nancy Parker , A Pawn USA, Clermont, Florida
A Pawn USA office manager and head sales rep Nancy Parker is impressed with the speed at which she and her sales associates are able to process transactions, whether it be a single pawn or multiple transactions together. She was able to customize the dashboard to better suit her co-workers work habits and flow. (more…)
Business Spotlight: True Cloud Computing Amazon vs. Microsoft
You Gotta See This – Shareable Videos to Entertain Your Customers
Sales Spotlight: “The Grind”… Sound Mind & Sound Bodies
Every sales team goes through up’s and down’s. This can happen sporadically on a monthly basis, sometimes a weekly basis and even from an hour-to-hour basis. It is very important to ensure you are always at your best. (more…)