Expansion – Business Observer Volume 2


When you start with one store and you move to two, you can create more problems for yourself if you don’t have the processes and systems right. The second store is going to adopt the sames issues the first store faces and is definitely not going to be as profitable because more than likely, you took good staff from the first store to go into the second store and now the first one that was your moneymaker isn’t making the money that it used too. So, you’ve created two problems by just opening one location.

Now imagine what everyone did, they went from one-to-five stores in the heyday, seven or eight years ago. So, that’s created a lot of problems within the industry. They’ve diluted the talent pool and then they had to restock it with people that had no industry knowledge.

Stay tuned in the coming weeks for tips for your pawn shop. With these tips in mind, you’ll be well on your way to developing a business plan that’s a force to be reckoned with.

We evaluate and train on these things and many more with our Pawn Shop Health Check!