How to Capitalize for the Looming Economy and Pawn
Ladies and Gentlemen in Pawn Land,
After analyzing what’s coming and a good discussion with one of my brothers from another mother, Ken Smith out in California we feel that it’s time to post some relative discussion about the Global Pandemic underway right now.
AS with all things in life we must take precautionary steps to help minimize the potential disastrous effects that are occurring and could occur in your area right now.
The Coronovirus is officially labeled a “Global Pandemic” by the World Health Organization and has spread globally rapidly. Here is a link defining what’s happening right now,
Here is an additional link that provides some basic information about the Virus and steps to help maximize yourself from being affected by this contagion:
As we ALL know in our Industry we have a lot of contact with the general public. Jewelry has direct exposure to skin and any other areas our clients may have touched or stashed their jewelry or cash on their body or person. AS such it poses a significant risk of direct contact.
It should be noted at the Federal level the government is looking at a temporary abolishment of payroll taxes and is offering up SBA loans to businesses that are or could be affected by the fallout as it relates to this Pandemic. AT this time we are advising clients to consider looking at all options early on as some of these processes can take time and you may want to find yourself prepared and as far ahead of the game as possible.
You may wish to check with your insurance carrier to see if these types of events are covered under your general liability policies and or if a temporary underwriting provision may be possible. It’s worth a look, loss of business, illness, hospitalization, or other are all possible from this Pandemic.
At store levels we can all being a number of prevention steps to assists, some of those would include:
Basic safety planning as well as cleaning supplies such as aerosols, disinfectants, gloves, wipes, masks.
- Extra cleaning of incoming product with cleaning wipes and more
- Handling ALL jewelry with precaution and wiping, and storing appropriately, as most of this is in direct contact with the customer and or skin – consider sanitary submersion into your Ultra-Sonic Machines or other before even handling as a suggestion
- General Merchandise being hand carried into our stores, also additional cleaning suggested before touching or handling
- Avoid direct contact with ALL customers and others in the operations
- Keeping your stores, people, and environment as clean as possible
- If your in an area with breakout of this Pandemic is imminent or occurring, extra layers of protection such as the virus approved masks, and gloves recommended
- Again, cleanliness is next to godliness, and PCG has been a long time proponent of keeping our work environments amazingly spotless, internally and externally
In the end, be cautious, be aware, be safe, and remain hopeful vaccines are on the way and hopefully with good precautions in place we can minimize the tragic potentials from this Pandemic.