How to Capitalize for the Looming Economy and Pawn
Ladies and Gentlemen in Pawnland!
I am very happy to report that the first two of our newest programs, the Leadership Camp and the first TRUE Industry Pawn Focus Group are sold out. Both of these up coming events were completely committed and filled within 24 hours or our initial news releases concerning these two new products that we are rolling out.
We are working on creating more schedules for both products, I just wanted to take this time to outline how our Pawn Focus Groups work and what is involved with them. For those of you who were not fortunate enough to attend our most recent Historical Pawn Symposium down in Naples Florida, here is the details of what our Focus Groups are all about.
We are working on some additional dates for new groups as I type!
Pawn Industry Focus Groups:
What is a Peer Focus Group?
- Modeled after a successful program started over 70 years ago in the automobile industry
- 12 – 15 non-competing pawn shop businesses meeting twice a year
- Explore industry specific issues that face other group members
- Tap into a network of industry experts and profitable colleagues and get answers on improving performance
What does a Peer Focus Group do when they meet?
- Discuss each other’s operations in detail
- Analyze each other’s businesses
- Identify ways to maximize profits
- Put together a plan to stay ahead of the competition
What are the Benefits of a Peer Focus Group?
- Increase your profits
- Associate with other successful pawn shop businesses
- Share best practices and marketing techniques
- Set goals and be accountable for your goals
- Compare financial results and metrics
- Compare your operation with the industry’s best
Who are the members?
- Committed, motivated pawn shop owners and senior managers
- Action-oriented business people who want to constantly improve
- Those who are willing to seek out and obtain outside input
- Those who expect an Return On Investment (ROI) from their time and monetary investment
- 2-3 days twice per year
- Location determined by the members
- Often in a member’s city to enable member evaluation
- Best practices – operations and marketing
- Goal setting
- Financial composites
Financial Metrics Analysis
- Compare key financial results to other members’ financials
- Measure P&L and Balance Sheet performance
- Track key financial and operational metrics
- Measure against your financial goals
- Determine areas to improve profitability
Groups consist of 12 to 15 member companies
- Non-competitors in the same marketplace
- Consider break out by volume and number of locations
- First meetings planned for April and May of 2012
Pawn Shop Peer Focus Group Meetings
- Facilitated by:
- Jerry Whitehead, Pawnshop Consulting Group, Inc.
- Wayne McMahon, PROFITsystems, Inc.
- PROFITsystems, Inc.
- Peer Focus Groups for retailers since 1993, financial and business consulting services
- Pawnshop Consulting Group
- Most comprehensive consulting and support services in the pawn shop industry
- Facilitated by:
- $5000 per year plus share of common meeting expenses
- Peer Focus Group Members say that one new idea per meeting covers the cost and provides a great return on investment
There are three kinds of people in this world:
- Those that MAKE IT HAPPEN
- Those that LET IT HAPPEN
- And those who wonder WHAT HAPPENED
If you would like to be considered for our next focus group, feel free to contact me directly and we will see if we can get you on the list!
Pawnshop Consulting Group, Inc.
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