Tag Archives: Pawn Master

Pawnshops expecting busy season

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It’s that time of year where things get bananas around the shop and the exchange of money really starts to flow. Will you, or are you ready as the influx of people start showing up ready to pawn, buy, or sell their items? PawnMaster can help you be that extra clerk, manager, or set of eyes you need when things get chaotic. Think of PawnMaster as your must trusted employee that always has your back! As we come into the heart of the holiday season, we are here to support you with any and all of your hardware and software needs. Feel free to contact one of our industry specialists for assistance 888-949-7296. Here is a great article we found about the upcoming holiday season.

By James Walsh
Times Herald-Record
Published: – 11/25/12

NEW WINDSOR — It can be a place to go for an emergency loan, or maybe to buy a chain saw.

Those with romance on their minds can get engagement rings. Others, looking to make a few bucks, lug in treasures mined from basements and attics.

It’s the modern pawnshop, exemplified in Orange County by businesses in Central Valley, Middletown, New Windsor and the Town of Wallkill.

Not all are alike.

World of Pawn in Wallkill is heavily into tools and machines. Fort Knox Jewelry and Loan in Central Valley is a jewelry store where the stock also includes watches and coins. Its sister business in New Windsor, Fort Knox Super Pawn and Thrift Shop, is the company’s flagship, said Stephen Rinaldo, director of operations.

“You can buy a WeedWacker there or a Rolex watch,” Rinaldo said. “It’s a true pawnshop.”

The wares were indeed an eclectic mix: power and hand tools, antique weaponry, musical instruments, a fancy Mexican-tooled western saddle, and even an autographed and authenticated pair of Johnny Damon’s Yankees shower shoes.

Reality TV shows boost interest

Hudson Valley Pawnbrokers of Middletown is entering its busy season, said manager Rob Ambrose.

“Sales go up this time of year,” Ambrose said. “The whole business in general picks up during the holidays.”

He credits reality TV shows about pawnbroking for generating interest in the shop’s wares. “All the shows on TV bring people in,” said Ambrose, who’s seen customers wanting to pawn or sell items ranging from more than three dozen baseballs signed by Hall of Famers, to harpoons, to a flint gun used to ignite gas lamps on city streets.

State regulates interest rate

Rinaldo and Vinnie Formisano, manager of the New Windsor store, believe some people have mistaken impressions about the pawn business. The stores aren’t dark and dusty with unsavory characters hanging around. And they’re not like their TV versions, where every day brings the rarest of antiques to the counter.

“What you have, basically, is middle-class, hard-working people,” Formisano said. “The transmission on the car goes and they need a loan for a week or two.”

Superstorm Sandy sent people to pawnshops like it did to hardware stores.

“We sold out all of our generators,” Rinaldo said, “and we were able to help a lot of people out with short-term loans.”

The business wasn’t hampered by the downed computers and closed offices that affected some banks, said Chris Romano, head of jewelry and merchandising at Fort Knox in Central Valley.

“This time of year, we’re lending more money,” Rinaldo said. “People need holiday cash. A lot of customers have been affected by the economy. They’re not broke, but they may not have credit, and they come here for a short-term loan.”

The interest rate — 4 percent per month — is regulated by the state. Loans are for four months, and can be renewed. Additional interest may be charged for storage of large items.

“We’ve done loans on contractor’s trucks,” Romano said. “A contractor has trucks he’s not using, and he needs money to start a new project. A bank isn’t going to give you credit on your dump truck.”

Some customers seeking to sell

Besides people looking for loans, there are customers looking to sell items ranging from furs to snowmobiles.

John Connolly of Newburgh was at the New Windsor store recently, intending to sell a keyboard and a cymbal from a drum kit.

“I have stuff lying around that I don’t need anymore,” Connolly said.

Others, like Valentino Mann of Monroe, come in to buy. He was in the market for a chain saw.

“I want to see if they have one here that’s cheaper than what they charge at the store,” said Mann.

Rinaldo finds that 90 percent of customers repay their loans and take back their merchandise.

“We don’t want them to forfeit their stuff,” Formisano said, “because they’ll come back and take a loan on it again.”

What are your thoughts on this article? Comment below.

“Stocking Up” on Guns Before Election

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Did you know that PawnMaster pawn shop management software helps you stay in compliance with law enforcement requirements with our gun log? PawnMaster helps simplify the gun tracking process and provides reports and the files needed. With the election just around the corner, see what one gun broker is doing to stir up business.

http://www.13wmaz.com/news/article/199069/153/Stocking-Up-on-Guns-Before-Election


At Howard’s Pawn shop in Macon, owner Howard Reed says it’s all about “faith, family, and firearms.”

And with the presidential election only a month away, Reed has aired ads on the radio for his pawn shop encouraging people to “stock up” on guns before November.

“We were merely reminding people of the way our industry was affected before, and our ad is entirely to encourage people to come get products while we have them.”

But the ad is also controversial because, according to Bryan Williams, a political science professor at Mercer University, it plays to the fears some people have that President Obama and Democrats would take away guns if re-elected.

“Any rhetoric that’s going to instigate fear is going to be money in the bank for somebody who sells the antidote for fear, which is a handgun.”

Reed says in the months before the last presidential election in 2008, he saw a major spike in people coming in to his shop to purchase guns before the election.  “It was just like someone turned on a faucet, and I mean it was wide open, ‘I want two of this,’ ’2,000 rounds of that.’”

Reed says he is concerned about President Obama being re-elected because of the United Nations’ efforts to limit guns.  He says it’s in part what motivates people to buy guns before an election. “There was fear in the hearts and guts of people nationwide or else what happened before, wouldn’t have happened.”

Despite their concerns, though, Professor Williams says President Obama has actually been criticized by many liberal groups for not being tough enough on gun laws, and that there is no indication that he would try to infringe upon the Second Amendment in a second term.

But he says the tactics employed by the pawn shop are actually common, and have been in use even before President Obama was elected.  Many pawn shops began airing similar ads as early as 2006, when the Democrats took control of Congress during the Bush administration.

We would love your comments about this. Do you think this is a good way to “scare” people into buying guns?

Pawnbrokers, Image is Everything!

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Pawnbrokers, we know you have heard the phrase “Image is Everything”. We have visited pawn shops all over North America and the Caribbean. We have seen some of the worst and best shops in the business and the ones that stand out the most are the ones that are clean, well lit and make people feel safe to conduct business in. As Data Age / PawnMaster gets ready to turn 25 years old, we know as the industry leader, our image is constantly being watched by our competitors so we work extra hard to ensure we keep it positive. A key part of building your brand is promoting a polished and consistent image. Your image is reflected in everything that represents your business – logo, business card, packaging, tag-line, etc. To make a lasting impression, be sure every aspect of your marketing strategy mirrors that image in design, color and overall appearance.

Weigh in on this post and let us know what does your image say about your business?

City Council Is Requiring Pawn Shops to Keep Computer Records…

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In one town in Kentucky, city council wants all pawn shops to keep computer records of how they got the items in their stores in an effort to reduce crime.

WKYT 27 NEWSFIRST

Here is the article http://www.wkyt.com/wymt/home/headlines/New-pawn-shop-ordinance-proposed-in-Barbourville-168979666.html.

Over the last few years PawnMaster pawnbroker software has seen more pawn shops going to a more reliable computer based software that ensures accuracy, reliability, and compliance with local law enforcement agencies. It really is hard to imagine any shop not using some kind of software to help them on a day to day basis.

What are your thoughts on this article? Comments?

6 Things Everyone Should Know Before Going To A Pawn Shop

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Have you ever wondered what to expect when going to visit a pawn shop? We do our best to not only educate our Pawnbrokers but we aim to inform the consumers as well. The National Pawnbrokers Association put out a great article below on the 6 Things Everyone Should Know Before Going To A Pawn Shop. Continue reading →

PawnMaster improves the way it educates its Pawnbrokers.

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Data Age’s PawnMaster continues to improve the way it educates the Pawnbrokers that utilize their software. PawnMaster is truly one of the few pawn shop software companies that updates and educates its custo-Click on this picture for videosmer base on a regular basis. The “Did You Know” series of informational videos shows our Pawnbrokers how to get maximum usage out of the PawnMaster software. These videos are designed to be quick and helpful ways to use under utilized and lesser known features within the program. It is our goal as a company, to increase your awareness of helpful features and services that we offer inside our PawnMaster software. We want you to know about it so that your day will continue to be profitable. Have you been to our Youtube channel yet and discovered the handful of videos that we recently added? Click Here

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Pawnbrokers are loving the new Janam scan gun for inventory management.

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The new Janam Scan GunPawnbrokers are loving the new Janam scan gun for inventory management at their stores. Some of you may have discovered at the NPA Pawn Expo that we are using the new Janam scan gun. The Janam scan gun has a light, sleek, highly-functional form factor for intensive barcode scanning. Its unique, center-weighted ergonomics, with battery positioned in handle, make it feel remarkably light and balanced in the hand. The Janam will help make inventory management a breeze. Would you like to update your inventory to PawnMaster in real-time? The Janam scanner will cut down that tedious task and make it fun, while also allowing you to correct mis-binned items on the fly.

This is the tool that will cut down hours of frustration for you and your staff from manually updating items. Call one of our qualified industry specialists today for additional information 888-949-7296.

 

Reality TV Good For Local Pawn Shops

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Data Age has the industry leading Pawnbroker pawn shop software called PawnMaster. PawnMaster helps Pawnbrokers all over the world manage and operate their stores. Reality TV Good For Local Pawn Shops is holding true for our customer who can be seen on Cajun Pawn Stars opposite of their Vegas counter parts Pawn Stars. Below is a great article about how shows like these continue to boost our industry awareness and bring a positive impact.

Reality television has brought the wheeling and dealing of the pawn shop industry into the living rooms of people across the country. But just how true to life is that buy, sell, trade portrayal? We took that question to dealers in the east.

When it comes to pawn shops most people might immediately think guns, guitars and of course jewels. But it very well may be the things most of us don’t see that are truly interesting, if not just downright unusual.

L.D. Thomas AT Dellinger’s in Washington says people have brought in, “Gold fillings, with the tooth still in them – we’ve seen used toilet seats.”

Brandon Craft at Village Pawn says, “I’ve had bread makers come in that still had yeast, had microwaves that still had lunch in them when they open the door the plate of food just fell right on the floor. They did offer to clean it up.”

Rich Avellino at Town Pawn in James City says someone brought them a missile launcher!!!

All of those items are a means to an end for customers looking to buy sell and trade.

In the age of reality television with shows like “Pawn Stars” and “Hardcore Pawn,” business is good for shops right here in Eastern Carolina.

Father son duo L.D. and Justin Thomas run four shops — including Dellingers in downtown Washington — and say the shows do have their gloss

L.D. Thomas says, “I would say it’s probably a 3rd reality a 3rd antique show and a 3rd Hollywood. As far as the reality part, yes, this is the way our customers come in and approach us and want to sell an item.”

Rich Avellino owns Town Pawn. He and employee Jason Hedrick have been in the business for several years and say it can be tough disappointing a customer who thinks they have something. Hedrick says, “It would be 14k stamped on the piece of jewelry and what it is it’s not real, it’s somebody else that’s stamped it to appear real – and what we do is we have to test it by way of acid. Usually they are kind of bummed out they paid a lot of money for the necklace that somebody sold them and they were hoping that it was real so they feel ripped off from that point on”

All of the owners agree though — that when the process works it’s a rewarding business to be apart of.

Craft at Village Pawn says, “You can’t go to the bank and say, hey I need $100.00 until pay day, they are not going to make a $100.00 loan. But here at a pawn shop you can.”

L.D. Thomas says, “A lot of pride that comes with this business. I consider it Christmas everyday with what comes into the store.”

28% of Americans have no emergency savings …

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The article below is a great example of the importance a Pawn shop has in the community. They don’t specifically talk about Pawn shops nor Pawnbrokers but when Americans are strapped for cash and need a place to turn to for immediate  financial needs, a Pawn shop is your best choice. Data Age and PawnMaster provide a majority of the Pawn Industry with the Pawnbroker pawn shop software needed to run their businesses efficiently.

NEW YORK (CNNMoney) — Most Americans don’t have nearly enough money stashed away for emergencies and more than one-in-four don’t even have a single penny saved.

While the general rule of thumb is to have an emergency fund that will cover at least six months of expenses, only 25% of Americans have that amount saved, research released Monday by Bankrate.com finds.

About 49% of Americans don’t even have enough money saved to cover three months of expenses — slightly worse than the 46% of Americans who reported having less than three months worth of savings last year.

And 28% don’t have any cushion whatsoever — up from 24% last year, according to the report, which was based on a survey of 1,000 adults.

“Incomes are largely stagnant, so it’s difficult for people to make significant headway on savings when household expenses are creeping higher but incomes are not,” said Greg McBride, senior financial analyst for Bankrate.com. “Prolonged unemployment has also depleted the savings of many people who at one time had a more appropriate cushion.”

While the overall saving situation has gotten slightly worse in the past year, Americans are saving more this year than they were six years ago. In 2006, Bankrate found that 61% of Americans didn’t have enough emergency savings to last three months.

“Relative to a year like 2006, the needle has moved a little bit, but this is more of an indication of how woefully undersaved Americans were during the ‘go-go days’ of the housing boom,” said McBride.

While some may argue that they don’t have enough money to contribute to an emergency savings account, McBride said it’s just a matter of getting into the habit.

“The biggest barrier to saving is not being in the habit of saving,” he said. “By establishing that habit, even if an unplanned expense comes up and wipes out what you’ve accumulated, you’re only one paycheck away from restarting the saving process.”

To start saving, he recommends setting up a direct deposit from your paycheck or checking account into a dedicated savings account and to keep track of your spending so that you funnel as much extra income as possible into your savings account each month.

Holy cow! 8 days until worlds collide…

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It seemed like yesterday that we were all at the 2011 NPA Pawn Expo at Caesar’s Palace but my how times flies. In 8 days Pawnbrokers will converge and gather at the best show of the year again. If you were at last year’s show, you hopefully got to stop by Data Age’s PawnMaster booth to see what was new. This year will be no different with extremely helpful features like:

Internal Price Guide – View what the lowest and highest prices you have paid for the same items. It shows you the low, median and high prices for items based on historical shop data.

Text Messaging Enhancement -Text messaging is now available to our Canadian customers.

Weight Scale Compliance – Data Age obtained the NTEP “National Type Evaluation Program” certification from the NCWM “National Conference on Weights and Measures”. This certification verifies that an integrated scale is feeding data to the PawnMaster or Buy/Sell Plus product and preventing weight discrepancies.

Stay tuned for more exciting things that you will get to see as we get closer. If you are too excited and can’t take the excitement any longer, go ahead and give us a call today instead. We understand, it was hard for us to keep to ourselves this long too.