Should I go with a Pawnshop Franchise or should I start out my new shop on my own, with my partners or investors?
Starting a pawnshop is a lot harder than most who try to open one could ever imagine. There are so many hurdles or obstacles that must be overcome before you can even try to open your doors. With that said, there are advantages without question in working with somebody with years of expertise in the pawn shop business especially if you want to open up your first shop. There are just so many things to consider such as start up costs, location, market analysis, a business plan and that’s just to see if the business is viable. Plus you have to start establishing relationships with local city officials (permits, zoning, etc) as well as law enforcement (Sheriff and City Police or whichever local agency with whom you will be reporting to however and whenever they require it. As the pawn industry is highly regulated. So having somebody that can really help you with EVERY aspect of getting started is a really good thing – see this link:
http://bit.ly/ePP7We (This is a testimonial from a new shop that got open in 90 Days with the help of Pawnshop Consulting Group, Inc, and Jerry Whitehead) Provo Pawn Testimonial
Going with a franchise is something to consider but there are not really any truly proven success stories out there. Some may think it’s a good idea to go with a Brand that’s already been built but does that apply to YOUR local market? Probably not as you can bet the Franchiser is NOT going let you set up a store that’s a competitor! Sure you may get some of the knowledge and contacts that a Franchiser can bring to the table and they can assist you with their experience. However, will they have the time and resources to dedicate to you and your needs? And if they have their own shops are they going to be there for you at all times?
We here at Pawnshop Consulting Group, Inc have worked with many large national chains and multi-store operations. And we are seeing quite a few pawn retailers try to franchise their operations. But you are tied to that Franchise, so you have to choose wisely and make sure that the cost benefit of having that experience vs. the payment of franchise fees over the long haul is the right decision. How can you know if that’s the right decision?
Pawnshop Consulting Group, Inc and Jerry Whitehead!
Pawnshop Consulting Group, Inc. can help you with these many important decisions and help you decide the best way for you to go. So before you make ANY decision, make sure you’ve got the right advice and we can help!
Please feel free to contact us any time!
Pawnshop Consulting Group, Inc.