How to Capitalize for the Looming Economy and Pawn
PCG Pandemic Initiatives & Suggestions Pawn Industry
Ladies and Gentlemen in Pawn Land,
In an attempt to stay in front of a very fluid situation with the current global Pandemic spreading rapidly, we are providing some suggestions for our global pawn client groups and the Industry in general.
PCG has been getting a lot of incoming traffic in the form of calls, text messages, and emails from clients and pawn family from around the world.
A number of countries have essentially closed down completely, secured their borders, and are taking a variety of other measures in an attempt to control both the spread, infection, and ultimately fatalities in their countries.
IN all previous Pandemic’s that I am aware of, the world has never acted as it is today, as a result these are uncertain times in which we live.
We are very cognizant of our Pawn Family scattered around the world today and offer our prayers and any levels of support we can provide for them and all of you in our time of need.
Many of the European countries are completely shut down, and yes Pawn Shops as well are closed. Similar activity is going on in Latin America in several countries including Peru, and is followed by most of Asia, Cambodia, Philippines and a number of other countries which have effectively shut down and again, thousands of pawn shops closed.
In the USA a number of states, counties, and or cities are also shutting down all non-essential businesses. I am not aware of any Pawn Shops closed as of yet but DO believe it is coming in the short term if in fact it hasn’t already happened.
Aside from some of the cautions and precautions we blogged about this past week, below are some other suggestions and ideas we are offering up for operators and their respective customer base.
For those of you who do not have mobile based cloud pay applications for your loan customers, and even for those of you who do, PCG is recommending that you inform your customers who may be paranoid of going out, and or are limited to some of the following ideas / suggestions:
- ABC Pawn is offering extensions on all loans 30 – 90 days at operators’ option until further notice
- ABC Pawn is offering 30 – 90-day ZERO FEE Pawn Convenience Fees on ALL loans to assist with the economic downturn in an effort to assist our clients in these challenging times < will decrease your forfeiture levels
- Please call us at 800 ABC Pawn, to discuss your options with us and what we are doing to protect our customers and their valuables in these trying times
- IN areas under restricted travel, stores could be offering up specials on packages of TV’s and DVD system bundles and DVD’s on bundled specials as well as further incentives for the home-bound to entertain themselves – UBER Delivery is an option in some markets
- USA stores have reported a run on firearms and ammunition, clients have been asking us about restricting sales. My first response is and remains, sell it all, replace what you can when you can, but your cash reserves and building up any and all cash is paramount in these uncertain times
- USA stores may qualify for some of the government loans, funding, payroll tax deductions, and more ;currently underway in Congress
- Congress is working to pass several bills now that may offer some financial relief for your Company, store or stores, keep informed. When and if available, get in line and get critical and essential money saving, or funding options on the table for your business ASAP > these include low interest to ZERO interest loans through the SBA and other bank options
- PCG is offering FREE consultations right now to discuss any and all options on the table for business owners, feel free to call and discuss anytime
- PCG with our affiliate PawnTrain is offering a wide range of online training services and more, based on client needs also up to FREE, call to discuss
Pawn Shop Consulting Group will be providing continuous updates as we receive them, thank you for your considerations and patronage, much more to follow!