Pawn Shops Early Indicators of Economic
The Exceptions of High-Level Consulting in the Pawn World
PCG celebrates close to 20 years in the Pawn Consulting World, and PCG’s Jerry Whitehead has served in the industry for more than 45 years.
Our family has been in the business one way or another for more than 65 years and on a personal account I have built up several organizations that operated 70+ stores in numerous states in the USA aside from 20+ years on the loan counters, down in the trenches with the troops.
AS a consultant I continue to
find it interesting that some of the newcomer’s in the consulting space seem to
think that their assault on others in the space somehow gives them a one up on
gamesmanship and good morals of conduct.
For some clarification, it seems apparent that one newbie in particular who claims to be the newest and greatest in the Pawn Consulting Space since sliced bread, seems to think that forward and public attacks in the social media forums and more somehow improves their image.
It would be my belief that this only hurts them and continues to aid those of us who have been doing the deeds long before the new children have arrived, and we will most likely be here long after they have come and gone.
A good friend of mine told me a while back, the dogs bark loudest when the Elephants walk!
As I say to our clients and personnel, all the kids should play well together in the sand box!! Good words to live by, it’s just a shame that honor and good moral conduct has been shredded by many in today’s society, especially in the business world.
They go low we go high, sounds familiar right?
PCG admittedly has created a number of our own competitors over the years and embellishes the fact that the industry has plenty of room for others who think they are, or who are actually positive influences for the industry overall.
Seems PCG has been in this space
far longer than any other that we are aware of, and today, we can proudly boast
we have served more than 600+ plus clients in some 46 countries, all across the
USA and continue to grow our brand and our consultancy practice globally.
Recently one of our so-called
competitors attempts to make jest of what appears to be a then and now jest at
PCG, even so far as to copy our colors, and attempt to make the jest apparent
towards PCG itself.
For the record, only uninformed
children who have no real idea of what they are doing could make such pale
comparisons of what true consulting standards, morals, and customer / client
support should look like.
One example given by one of our kids
in the consulting space, actually believes you can train your customers to
bring what you want while passing on what our customers actually have. It is
true PCG believes we should MAX loans to customers with a few little details
skimped over. Those would include common sense, qualifying, and testing. To
think you can discourage your customers and turn business away as they are
bringing perhaps the only things they have or something you may not be in love
with is lunacy. In today’s highly competitive world, we live to serve the
customer and not the other way around, FACT.
Missed opportunities are passing on what you could have taken !
Growing retail sales, I think we
all agree this is a must in today’s highly competitive environment. Unfortunately,
we have found that some of these other so called consultants have ZERO idea
what inventory yields are and how to manipulate them VS, holding out on margins
and only considering margins. This has little effect on the long-term bigger enhanced
cash-flow picture. Only a child in the industry who has presumably never worked
a loan counter, or a store, or stores, would have NO idea what the power of
solid yields return in the big picture, which is also a big component of having
solid layaway balances as well.
PCG has had the privilege to work with some of the smartest and some of the largest operators in the world today. We have ALL proven one thing, big layaway balances produce long term, constant cash flow, even during the slow months along with solid margins, turns, and yields. Only a novice in our business could think otherwise. We have the stats, the data, and the testimonies from hundreds of clients to prove the metrics. We have seen some very idiotic claims as to the true results of these programs. Follow the protocols, better than 90% service rates, FACT.
For the record, PCG has always attempted to teach our clients how to fund continued growth by maximizing their own assets and unlock the potential behind them by maximizing returns on combined assets, loans and inventory. Again, only a novice would seek to borrow capital to grow loans. We have striven for decades for our clients, and in our own operations to avoid debt, and only utilize smart debt capital for essential business growth only.
If we have to borrow at 10 or 12% or less, and apply capital strictly to performance assets often times generating more than an annualized 100% ++ return, I think many could conclude this would be smart money VS missing growth opportunities due to seasonality, or other.
PCG and on behalf of myself, have
been in the industry for more than 4-decades which in some cases is longer than
the age of our so-called competitors. We have assembled a long list of
preferred partners and vendors that we proudly put our seal of approval on from
years to decades of hand in hand working with our preferred partners and would
only refer our clients to the partners that may best serve them. We would ask
any of our potential clients to ask for our referral network and compare them
to anyone else in whatever space they may seek. The same should apply to any
The benefits PCG receives from
our referral networks usually equate to referrals as well, and these types of
generational relationships work for everyone. Again, only a novice could think
Hire a consultant that comes in and abandons you after the service? You must be kidding.
PCG over the years have crafted
our consulting service to provide the full-bang, or the full-Monty on the front
end of any initial consulting role. These initial consults would include, but
are not limited to:
- Comprehensive financial analysis – key performance indicators which PCG has been standardizing for decades, this coupled with financial analysis in most markets in the USA and other countries to compare how your operation compares – cash flow analysis – SOP for PCG
- Analysis of Profit and Loss Statements and Balance Sheets – SOP – Standard Operating Procedures for PCG – PCG and our professional CPA and staff, have been servicing the Pawn Industry and many PCG clients and me personally for 30+ years, lots of reference here, and over the years have saved clients millions of dollars in tax savings and more, SOP and nothing new here from PCG
- Comprehensive bonus and compensation programs, completely scaled and customized for each client is a PCG standard – highly developed systems to enhance complete and comprehensive productivity and profitability growth in the operations
- Comprehensive one on one reviews of all key personnel, assessments, profiles, productivity contributions, personality psych profiles, and more
- Analysis of all operational protocols, strengths, weaknesses, of each client operation
- Analysis of core operations, audit routines, systems analysis, cash flow, daily routines, for multi-store groups analysis of the management team and systems, customization available
- Establishing core temp for daily one on one’s, weekly reviews, monthly team gatherings and more, all SOP with PCG
- Our initial comprehensive reviews come with a 50+ plus page write up, analysis, and prescription
- PCG provides long term analysis of the results and productivity of any client’s operations as standard with our basic consulting package, we will NEVER leave a client hanging out
- PCG provides a wide array of other consulting services that include:
- Professional recruiting services
- High level auditing services – forensic included
- SOP training systems for store level personnel
- Multi-Store Management Systems, Area Management, Audit, Support, Executive Management
- New store set ups – start to finish
- Software conversions, on-boarding, comprehensive data entry
- Pawn Shop Valuations – mergers, acquisitions, estate purposes – any consultant that receives fees from buyers and sellers for any deal, unscrupulous and lost their moral center – PCG and myself have brokered more than 250+ pawn shop deals in numerous countries last 35 years, other consultants have completed how many?
Make no mistake about, PCG
remains the industry leader in Pawn Consulting, we have the stats, the consultants,
and the support networks to illustrate it.
If your consultant makes claims that 100% of their clients have been serviced by some other consultant – first, they must not have that many clients serviced, and do your due diligence, demand the names and contacts of all of those clients, call them, and ask them how the final results were for them.
FYI PCG has always offered a money
back guarantee on our services and will NEVER leave any of our clients out to
dry. We are here long term and yes, some of our clients require more
maintenance than others, and our SOP is we do not want to be your business
partner, we want to be your enlightenment to the next levels of your true potentials.
Be sure to check out our “Pawn Summit” coming up this october at the 4-diamond OMNI Mandalay Resort in Las Colinas Texas, this is a high-level PCG symposium format educational event in conjunction with one of our Industry partners BRAVO!
Enter the Discount Code “PCGVIP41” to receive a $200 discount off of registration, even space IS limited, this will be one of THE events for the Pawn Industry this year, all information for registration and hotel registration is inside the link:
Pawn Shop Consulting Group, LLC.