Roughly 30 million Us Us Americans utilize pawn stores on a yearly basis.
All you are thought by you understand about pawn stores is wrong. Most arenвЂ™t sketchy enterprises staffed by people working in stolen products. Nor will they be typically in the industry of ponying up big dollars for uncommon collectibles just like the team at Las VegasвЂ™ World Famous Gold & Silver Pawn Shop, the shop showcased on Pawn Stars.
Rather, pawn stores have been in the distinctly unglamorous but business that is useful of lower amounts of income вЂ” $150, an average of вЂ” to those who require money fast. The industry acts millions people yearly, however, if youвЂ™ve never set base in the pawn store, the entire procedure most likely appears a little mystical. To clear the confusion up, we chatted to a pawn industry specialist whom assisted clue us in to a few of the big truths about pawn stores, the way they work, and who they provide.
1. Pawn shops are big company
вЂњThere are someplace around 12,000 or 13,000 pawn stores into the U.S. Around 30 million Americans use them to either pay the bills or even purchase and sell utilized merchandise away from convenience,вЂќ Jordan Birnholtz, the creator of PawnGuru, an internet site that helps people find pawn shops enthusiastic about their products, told The Cheat Sheet.
Pawn stores provide short-term, collateral-based loans to customers. Read more