Ready for a Fresh Start?
Consider a Career in the Pawn Industry!
If you’re in a job with no opportunity for higher pay or promotion – it’s time for a fresh start. You deserve an amazing opportunity! Consider a career in the Pawn Industry. Pawn shops have gone mainstream and serve an important need in our society. The right personality and attitude are vital to success in this exciting and growing industry. Read on to learn more about the industry and career advantages. #PawnCareers #PawnAdvantage
Reality Shows vs. Real Life
Pawn reality shows are very popular and entertaining to watch. It’s important to know that the situations you see on TV are not typical of pawn shops or pawn customers.
Real life inside a pawn shop is similar to any other retail store or bank you might visit. Pawnshops are modern, computerized businesses with attractive store settings and professional employees. Consumers are attracted to pawn shops for the broad range of services, great values, convenience, and customer service.
The history of pawn has been traced back thousands of years. It is considered the oldest form of consumer credit. The word pawn is from the Latin word pignus, for a pledge. Over 3,000 years ago in China, Buddhist monks gave pawn loans to peasants and small businesses. The practice also was recorded in ancient Greece, the Roman Empire, and throughout medieval Europe. Most notably, wealthy families, kings, and queens utilized pawn lending. Queen Isabella of Spain even pawned her royal jewels to pay for Christopher Columbus’s voyage to the New World!
Working in the Pawn Industry has many advantages. Here’s a short list of some of the opportunities and benefits the pawn industry has to offer:
✅ Lending + Retail Experience
A pawnbroker is a term used for a licensed employee working in a pawn shop. Customers come to pawn shops for three main reasons: to get a loan, to sell an unwanted item or to purchase merchandise. Successful pawnbrokers must become experts in all three areas. At the core, the key is learning to appraise many different types of merchandise. These can range from the latest electronics and firearms to antiques and jewelry. As a result, each day presents new and different learning experiences!
✅ No Advanced Degree Required
Education is important; however, you can have a successful career as a pawnbroker without a college degree. The right person with the right people skills is often more important than formal education. Working in a pawn shop is about building relationships and helping customers with their financial needs. In summary, an engaging personality, exceptional communication, and listening skills combined with good reasoning abilities are invaluable.
✅ Higher Pay and Commissions
Total compensation for pawnbrokers (hourly wages plus commissions) is higher than other retail jobs. The higher earnings are because pawnbroking involves so much more than just retail sales. As a result, employees that are motivated to learn and work hard for their customers will earn the best pay and compensation. Also, pawnbroking offers many opportunities for advancement like merchandising experts, online sales, and management positions. You are only limited by your desire to learn and perfect your skills.
✅ Job Security
Pawnbroking is considered a recession-proof industry. Studies show the demand for pawn services will continue to grow. Primarily, pawn shops provide a service that traditional banks and credit unions do not – short term, collateral loans for small amounts of money. In addition to higher loan demand, technology updates will continue to fuel the resale market for high-quality consumer goods like cell phones, notebooks, and laptops.