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Clerks or Account Managers

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Pawn Shops are Not a Single Man System
No matter how small your pawn shop is, you need to remember this isn’t a single person operation. Just as a car dealership relies on its team to complete a sale from start to finish, the pawnshop will have a similar team in place. These professionals will have a great deal of knowledge in the industry and be dedicated to selling.
When a customer walks in the door, the first person who greets the customer should stay with them until the very end. In this customer’s mind, you are the account representative and in that role, you need to ensure you are focused on helping them. When you complete the transaction with the customer, you then will have two options. If they have pawned the item for a loan, you will need to monitor the repayment schedule and if it defaults, add the item to the floor. If they come in and make payments, you track those payments and then release the item when they have been successfully paid for.
In the case a used item is taken in for cash, but not on a loan, once the sale is finalized, the process continues on to the floor and then put up for sale.
Expanding the Reach of the Pawn Shop
While there was a time the only options for finalizing a sale was when people walked into your store, the internet has given pawnshops more options. With websites like Amazon and eBay expanding the reach of smalltime operations, the amount of loss is dramatically reduced at the pawn shop. In fact, with the expanded reach, more shops are able to bring in better profits and maximize their efforts.
That doesn’t mean all of the work in the pawn shop is handled by one person. Instead, pawnshops are staffing employees and utilizing the skillsets of many people. These professionals can negotiate deals and maximize the in-store efforts when people come into the store. Of course, these individuals are getting paid whether or not they are making a sale of any kind. But what if this employee was doing more and actually helped to earn their paycheck in the process?
With the power of social media, you can utilize the employee and gain a following that will be dedicated to keeping the public’s eye on you. Through social interaction and the posting of flash deals and other announcements, you can ignite interest as needed and boost business at the end of the month or when you need an extra push for foot traffic.
Employees can also do the footwork for the company and help bring in new merchandise and secure new loans as well. In this digital age, people are making fewer trips out and doing most of their shopping from the comfort of their homes. Employees need to be trained to get the customer in and make them feel like they are getting a good deal, whether on a purchase or getting an immediate loan, while understanding how to maximize the power of social media, Amazon and eBay in the process.
Two Sides to the Pawn Shop Story
Knowing what the employees can do is one thing. How the business is run is another. Some pawn shops are run like a Blockbuster Video. Customers walk up to the counter, handle their transaction and leave. The only time they are even acknowledged is when they pass by the counter and we know how Blockbuster’s story ended.
The other is where everything is handled by the employees and geared towards success. This is where a pawn shop thrives. This is where it is successful! You hold employees accountable for their actions and they remain productive. You have them manage their accounts by calling their customers and e-mailing them to remind them about their pawn charges and to mention any specials going on. This prevents the customer from losing track and your inventory having another item you need to make a profit on, when a simple phone call or e-mail could have resulted in the customer coming in and making a payment on their service charges.
Then when items are past their hold time, instead of tossing it on a shelf, the employee can also add it to Amazon or eBay to expand the reach of the sales. You can even setup an online store for patrons to view your merchandise and make a purchase if they choose to do so.
This improves the chances of a successful transaction and when you are creative in your efforts and have a higher degree of productivity, you will find you have better profits and end up being successful.

Pawncast247

5250 west Grand Ave,

Gurnee, IL 60031

Phone. 630-708-7296

Email. Michaelharry7@gmail.com