Opening a pawn shop. Any suggestions cautions etc.

[boomer81]

Well I'm in the process of opening a pretty diverse business. Gun/pawn used car lot and portable building sales. May get into small implement sales and rental down the road. I have a great location,over 6k ft of total building space. a good size car lot etc. My background is in auto sales. And musical instruments sales.

I've always shot and owned guns my whole life. And have better knowledge than the avarege person. And shooting has become a more serious hobby in the last two years. I've done basic maintenance but I'm no gunsmith or know it all. My local vo-tech has two level gunsmith course thats supposed to be pretty good I'm sure I'll enroll in. all the paper work is done I am awaiting my ffl.

I would like to stock some new guns and ammo. I'm not going to get into anything real high end. Just would like to turn a profit On sub $1,000.00 guns. Your basic hand guns shotguns cheap ar's ak's and hunting rifles. Who are some of the better firearm distributors. For a small shop to deal with.

Would I be better off dealing with individual one stop shopping gun warehouse type distributors or direct with manufactures. any advice would be much appreciated. Thanks to all.

 

[Maser]

Re: Opening a pawn shop. Any suggestions cautions etc.

My only advice is to not turn it into a reality show. There's way too many pawn shop reality shows already.

 

[boomer81]

Re: Opening a pawn shop. Any suggestions cautions etc.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Maser</div><div class="ubbcode-body">My only advice is to not turn it into a reality show. There's way too many pawn shop reality shows already.

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They pay me enough money I'll hire a fat mouth breather to man the counter. a couple of Cajun lesbians taming crocodiles a meth head okie noodler crab boat captain. and in my spare time when I'm not out picking through some horders stash or standing in front of a mini storage. in the back of the shop I'll build a 2k yard ak that shoots tannerite projectiles that explode on impact. Because they already made one that does 1k

 

[cavscout1983]

Re: Opening a pawn shop. Any suggestions cautions etc.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: boomer81</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Maser</div><div class="ubbcode-body">My only advice is to not turn it into a reality show. There's way too many pawn shop reality shows already.

</div></div>

They pay me enough money I'll hire a fat mouth breather to man the counter. a couple of Cajun lesbians taming crocodiles a meth head okie noodler crab boat captain. and in my spare time when I'm not out picking through some horders stash or standing in front of a mini storage. in the back of the shop I'll build a 2k yard ak that shoots tannerite projectiles that explode on impact. Because they already made one that does 1k

</div></div>

God forbid a squib round.

 

[Queequeg]

Re: Opening a pawn shop. Any suggestions cautions etc.

Not a fan of the pawn rackets. Back bone of the burglary industry as I see it.

 

[Sean the Nailer]

Re: Opening a pawn shop. Any suggestions cautions etc.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: queequeg</div><div class="ubbcode-body">Not a fan of the pawn rackets. Back bone of the burglary industry as I see it.</div></div>

+ a Bazillion,

 

[boomer81]

Re: Opening a pawn shop. Any suggestions cautions etc.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: queequeg</div><div class="ubbcode-body">Not a fan of the pawn rackets. Back bone of the burglary industry as I see it. </div></div>

I understand and respect your point of view. But that's like saying a gun dealer is the backbone of workplace violence. Or that your local gas station owner is supporting terrorism because the starting point of where the oil came from. some of that money went to a radical sheik that donates to his local Taliban. It's peoples actions of right and wrong. there are protocols of reporting these things. My brother in law and uncle are local police officers. There gonna be working there part time. So it will probably help law enforcement.

I am in a small town hell right now the only place to buy ammo is 20 miles away. there is not alot of crime to begin with. I have be diverse to make it work. That's why I'm doing other things there as well. Pawn is just one. Selling cars will make me more money than anything.

The reason I'm doing the pawn thing is because the local tribes have decided we are a good place to put casinos we have two now and will have 3 by this time next year. and I don't care if people are stupid and want to piss off everything they have feeding a one arm bandit. I got a 2 and a 5 year old to feed, I don't worry about other people's actions.

 

[50calibercruiser]

Re: Opening a pawn shop. Any suggestions cautions etc.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sean the Nailer</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: queequeg</div><div class="ubbcode-body">Not a fan of the pawn rackets. Back bone of the burglary industry as I see it.</div></div>

+ a Bazillion, </div></div>


YUP!!! And here is a quick story to back that up. h4everything and I are going to a shooting match at Ricky Reeves one Saturday, h walks out to his garage (5:30) to half his hunting shit missing and the door open. Call the cops, cops show up make report and leaves. h goes inside to feed dogs comes outside and the greedy little fuckers are in the garage picking up the rest, namely his bow case they forgot on the first trip. h calls cops again then me and we spend the next 45mins driving around looking for said fuckers. h is pissed we go to match. I do ok, he does shitty (would have been the same under any circumstance). On the way to Alex I called my buddy at the Pawn Shop(awesome gun store, very high class) in Mustang and give him a list of shit to be on the look out for. h is visibly pissed all day canceling CC (they broke into his truck and stole his wallet from the center console, this is how they got into the garage) and calling home ins. company. Close to 6K worth of shit gone. Well we get back to h's, I leave to go home and a mile down the road my phone rings, it's my buddy at the pawn shop. h's stolen Matthews bow has just walked in the front door! Everyone was busted and the book thrown at them (one was an adult and had a previous rape charge, this violated his parole. Bye, bye fucker!) All of the shit was returned less Leica Geovids. Ins covered that. The best part was walking into the pawn shop with those little fucks cuffed, the cops even let us taunt the kids a bit, it was a great end to a very shitty day.

Sorry that was long than I wanted...


<span style="font-style: italic">We were just lucky they tried to get rid of his stuff at the right pawn shop. The other shops in the area are far less honest</span>

 

[pwc001]

Re: Opening a pawn shop. Any suggestions cautions etc.

I would love to have a pawn shop, but I would go broke because I would keep all the good stuff I got cheap for myself.

Around here, they pay nothing, and ask new prices. If you make an offer or show them you can get the same R700 youth model new at Academy for cheaper, they just look at you stupid. I only go in now for tools, and stuff like that.

Good luck on your business adventure.

 

[W54/XM-388]

Re: Opening a pawn shop. Any suggestions cautions etc.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: boomer81</div><div class="ubbcode-body">
The reason I'm doing the pawn thing is because the local tribes have decided we are a good place to put casinos we have two now and will have 3 by this time next year. and I don't care if people are stupid and want to piss off everything they have feeding a one arm bandit. I got a 2 and a 5 year old to feed, I don't worry about other people's actions. </div></div>

You'll probably come out pretty good then, at least on things like high end watches, cameras, iPads, laptops, pistols and such.

Reminds me of the good old days in the 70's 80's and early 90's where the best place in the world to buy a used Rolex like new was Macau. All the chinese from Hong Kong would head over to gamble at the huge casinos there, loose their shirts and pawn their Rolexes for cab fare and ferry tickets back home. Walking around the alleyways it was like being at a Rolex convention, that was held in a Rolex warehouse HA!

 

[Tunanut]

Re: Opening a pawn shop. Any suggestions cautions etc.

There's a shitton of paperwork involved in pawning in most states. The business isn't about buying stuff, it's about loaning money at usury interest rates. FFL, gold buying license and paperwork will take more time than you think. Pawning is about loaning money. The more money you put out there, the more you make. The actual items are not what you want, but the interest coming in every month is.

 

[csi:cyberspace]

Re: Opening a pawn shop. Any suggestions cautions etc.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: boomer81</div><div class="ubbcode-body">
They pay me enough money I'll hire a fat mouth breather to man the counter. a couple of Cajun lesbians taming crocodiles a meth head okie noodler crab boat captain. and in my spare time when I'm not out picking through some horders stash or standing in front of a mini storage. in the back of the shop I'll build a 2k yard ak that shoots tannerite projectiles that explode on impact. Because they already made one that does 1k

</div></div>
You disparage them rather tremendously, but I'd cover any bet you got they make more than you

Those tv shows are NOT the norm. The shops around here are here today, gone tomorrow. It doesn't seem to take folks long to get tired of giving their stuff away, and then seeing some jackass trying to sell it for a new price. Further, it doesn't seem to sit well with most people to see a new price on something they know darned well that same jackass just took advantage of someone to get. Don't underestimate word of mouth! Deal fairly with people, and they'll understand you have to make something on every deal. Otherwise, you'll hear "I know you have to make a living, but you don't have to make it all off of me" as you are filling out your bankruptcy papers.

That's just my .02

 

[sirhrmechanic]

Re: Opening a pawn shop. Any suggestions cautions etc.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: boomer81</div><div class="ubbcode-body">
They pay me enough money I'll hire a fat mouth breather to man the counter. a couple of Cajun lesbians taming crocodiles a meth head okie noodler crab boat captain. and in my spare time when I'm not out picking through some horders stash or standing in front of a mini storage. in the back of the shop I'll build a 2k yard ak that shoots tannerite projectiles that explode on impact. Because they already made one that does 1k

</div></div>

Anyone who can write a rant with such skill... is going to do great! Good luck with the venture! Post some good deals here for us on the 'Hide PX once you get started!

Cheers,

Sirhr

 

[Queequeg]

Re: Opening a pawn shop. Any suggestions cautions etc.

Seriously, good luck in your venture. I understand that not all pawn brokers are scumbags. Around here, there are hundreds of pawnshops. I do not exaggerate.

I have been in a pawn shop or two over the last 40 years and I find it hysterical the stories told by the shit bags who walk in with 90% of a car stereo, a computer monitor, a set of golf clubs, you name it...

The city of Tampa has 2 officers working in their pawn bureau. Hillsborough county Sheriff's dept has a few more. All to cover hundreds of pawn shops in just Hillsborough county. A lot of stolen goods ends up there that never gets returned to the rightful owner.

In the event that one does find his goods in a pawn shop, the pawn shop has the presumption of ownership unless the rightful owner can prove the goods are his!

As said, i have done some business in a few pawn shops but never felt like I was dealing in the kind of commerce I prefer to engage in.

As to the FFl, that is another dimension of the pawn business that I can understand a little better and have no issue with: No one buying used guns is pouring bags of cash over the head of a seller!

Thieves utilize pawn shops as most thieves are morons and too many pawn shops are the easiest available fence.


Caveat Emptor.

 

[boomer81]

Re: Opening a pawn shop. Any suggestions cautions etc.

Yeah i got yall. Dont mean to sound defensive. Im in a small town in oklahoma. Im about as honest and all american as they come. So im not your stereotypical ghetto pawn dealer. You cant fart in this town without someone knowing so if theres any crime ill do my best to help law enforcement. And we already know who most of the riff raff is around here. But i know thats alot of what pawn shop guys are veiwed as. But once upon a time we thought all preist and football coaches were upstanding guys.

 

[JCH]

Re: Opening a pawn shop. Any suggestions cautions etc.

what small town?

 

[dannydifalco]

Re: Opening a pawn shop. Any suggestions cautions etc.

Watch the new show "combat pawn" lol its great!!!

 

[mexicanmatch]

Re: Opening a pawn shop. Any suggestions cautions etc.

The person at the register will make or brake you. On ffl paper dot your i's and cross your t's and do it on all other paper work. Put in a real good alarm system to cover every square inch of the place and make sure you have the strongest glass and doors you can get. A pot of fresh coffee going all the time for the leo's. Thats a start