Is pawnshop operational consulting from PCG right for your business? The pawn industry is unique in that it provides different services to different people. To some, it’s a retail location where they can find a wide variety of items at discounted prices. To others, it’s a valuable financial resource where they can get secured loans using personal property as collateral. To a pawnbroker, it’s a business, one that dates back to the ancient Roman and Greek empires.
With that kind of history, it’s hard to imagine the industry crumbling in modern times. However, without proper technology, new sales tools, financial record keeping, and updated marketing, your business could be the next one on the chopping block.
What’s affecting the changes leading to the decline in sales and shuttering of pawnshops around the country? It’s a combination of the market, the economy, and the failure to adapt as technology and the global marketplace changes. That’s where our consulting expertise comes in.
We care about the industry, we care about our clients, and we work to ensure your success. Everything you can learn in business school is everything you need to run a successful pawnshop. But do you have time to go back and take more business classes? Probably not. The good news is we’ve done all of the legwork to keep you on the right track to success and profitability. We customize every program to suit your particular business, your goals, and your vision.
We start with a comprehensive questionnaire to get an overview of who you are and what your business looks like now. We build a profile based on your answers, and from that, we construct a series of goals and focus points. Everything we do for you is based on your specific operation. We want to create a customized plan that will work for you, and we don’t rely on cookie-cutter programs or one-size-fits-all consulting. We also don’t work with your competitors.
One of the first things we focus on is your financial data. Not everyone can be an accountant, and we certainly don’t expect you to be one. With that in mind, it’s still critical to have an understanding of your financial metrics in order to rise above the crowd and find success. We can help you with that. It’s one of the most common deficiencies in pawn brokerage, but instead of leaving you to worry about it, and fail at it, our consulting team can integrate financial planning and software into your current operations to make a seamless transition from relatively out of touch to completely in-the-know when it comes to your finances.
If you aren’t keeping up with trends in technology, you are going to fall behind. The pawn industry is in trouble, and one of the contributing factors is the failure to adapt to a changing marketplace. We have found that pawnbrokers in general are slow to adapt to technology, including embracing an online presence and e-commerce. In the U.S. alone, more than 30% of the population is considered millennial. Millennials are driven by technology and online business, shopping, and socializing. If you ignore this large part of your potential customer base, you’re going to lose them. We can help you catch up.
Don’t start thinking of throwing in the towel because of some business setbacks. Pawnshop Consulting Group provides a comprehensive suite of programs that will result in dramatic improvements in your operations. Let us support you and your business with customized options to fit your budget and your needs. Reach out to our team today for effective pawnshop operational consulting services.