EDITOR’S NOTE

HIT THE

THE PAWN RESET BUTTON HAS BEEN HIT. Those with large loan balances have seen a big drop, so the playing field has been evened out. As everyone talks about loans coming back, what you need to consider is that the pawn business isn’t the same anymore.

In the past, we were able to open our doors and the community would flood in. For most of our customers, pawnshops were the only option.

Now, with consumer financing more readily available and so many online options to sell merchandise, pawnshops may no longer be the community’s top-of-mind choice.

So how do we make this change? How do we make sure that the pawns come back?

The first thing you need to realize is that you need to cut through the noise. People are watching the news. They’re on social media to connect with their network and the pawn will be the last thing they think about.

It’s time for you to communicate that you are open for business. The Mastermind members have been going live on social media every day and making changes to their marketing tactics to keep up with the times.

The pawn industry is ten years behind in leadership, marketing and strategy, and if you continue to now invest in learning, then you might just be sitting there waiting for those loans to come in as they go somewhere else.

It’s time to build a better culture to attract better teams. It’s time to learn how to market your business so that you can connect with the younger generations and break through the noise, and it’s time to learn how to strategize so you can finally grow and scale your business without the overwhelm.

The Pawn reset button has been pressed. Will you sit there, hoping for change? Or take action and make change happen.

When The World Shut Down

PawnMaster Kept Running Our mobile modules keep customers connected. Call Today.

18 PAGE

Natalee Fitch helps run Central Texas Gun and Pawn. Story on page 18.

PHOTO BY LILIANNA STORY PHOTOGRAPHY

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EDITOR’S NOTE NOTES

MARKETING: Rockstar Customer Service HOT TOPICS: What is Inventory Turnover?

THE MILLENNIAL WHO SAVED A PAWNSHOP PAWN LEADERS TOP SHOPS 2020 RESULTS

STRATEGY: Live and Direct QUOTABLE: Woody Allen Cracks a Joke

We are family.

The term ‘Pawn Family’ is a familiar phrase within our community. As brothers and sisters in a unique and challenging industry, we need one another. That’s never been more true than right now.

As this magazine goes to print, pawnbrokers are facing unprecedented challenges all over the country.

On behalf of all of the members of the Pawn Leaders and particularly the businesses who make the publication of this magazine possible, we want you to know that you are not alone.