With all the unfortunate school shootings and other events that have prompted congress to push stronger legislation on gun control, this article shows how that has created a huge spike in firearm sales in the last few months. For those of you who sell guns at your stores, have you seen a spike in sales as a result of articles like this and other things you have been hearing on the news? PawnMaster pawn software does a great job of helping you stay compliant with our gun log and police reporting functionality. If you would like to know more about how we can help your store call us now 888-949-7296 or leave us a comment below. We would love to hear your comments or concerns.
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.
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.
We know every dollar saved when running a business is critical in any economy. Below is information on how your PawnMaster pawn management software and hardware purchases from PawnMaster can be used as tax credit for 2012. Please be sure to share this information with your Accountant.
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy or lease a piece of qualifying equipment, you can deduct the full purchase price from your gross income. It’s an incentive created by the U.S. government to encourage small businesses to buy equipment and invest in themselves.
All businesses that purchase, finance, and/or lease less than $560,000 in new or used business equipment during tax year 2012 should qualify for the Section 179 Deduction. If a business is unprofitable in 2012, and has no taxable income to use the deduction, that business can elect to use 50% Bonus Depreciation and carry-forward to a year when the business is profitable.
You can learn more by visiting the http://www.section179.org/.
We hope this information helps! If you need items to purchase so you can utilize this tax relief please give one of our qualified industry specialists a call today 888-949-7296.
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.
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, 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?
Everyday we face challenges, whether they are training new employees, managing inventory, or unplanned circumstances. When life throws you a curve ball wouldn’t it be nice to know that you have the tools and resources available in your pawn shop software to handle life’s daily challenges? PawnMaster is the best employee you will ever hire! PawnMaster is the most robust pawnbroker software on the market with 25 years of industry knowledge and input from pawnbrokers all over the world just like you.
If you have a new employee who is new to the industry and not sure what to offer on various items, the internal price guide will take the guess work out by showing you a high, low and median price over the course of a date range as well as how many are in inventory. Isn’t it nice to know that your pawn management software has your back when sometimes aren’t sure if the people who work for you do?
Our price guide will help ensure you are only lending money on items you can turn and won’t just end up sitting on your shelves along with the other 20 similar items. If you are in the market for a change or exploring what software is right for your company, we encourage you to speak with one of our industry specialists today 888-949-7296.
During the recent NPA Pawn Expo in Las Vegas, our customers told us throughout the show, that they absolutely love the PawnMaster “Did You Know?” videos that we have produced so far. PawnMaster pawn shop software is launching “Did You Know?” series based on your positive feedback. We strongly feel, that things like this really help separate us from our competitors. We strive to educate our customers on how they can maximize their return on investment by offering helpful tips and suggestions that can ensure you are getting the most out of this powerful pawn shop software. The “Did You Know?” series will be a combination of technical support tips and other ways that will minimize frustration and maximize revenue generated. Our goal is to provide at least one or more of these videos monthly. If you have not seen any of the current videos that have been published, head over to our Youtube.com/dataagesoftware channel and subscribe. This way you won’t miss any of the new ones as they get posted. We will do our best to notify everyone as they are published.
If you have discovered any helpful tips that you would like us to share with others, we would love to feature your company along with the tip you have discovered or are doing differently than the other pawn shops out there. Leave us a comment below if you have found the “Did You Know?” videos helpful so far. Also if you would like us to contact you about featuring your company with tips you have found.
Pawnbrokers 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.
Pawn shops owners can now offer a Protection Plan through the PawnMaster software with every item sold? If you are new to the PawnMaster family or maybe haven’t seen some of the really cool new features that we showcased at the last NPA Pawn Expo in Las Vegas, Data Age’s PawnMaster, now has the ability for Pawnbrokers everywhere to offer existing and cash customers, a protection plan. The plan can be set up on a dollar or percentage based rate and you then assign each Inventory item or category that the Protection Plan will be applicable to. How would you like to add an additional 5% or greater to your bottom for something you may currently be giving away for free or not doing at all. Increase your customer loyalty and peace of mind with this great add-on module. Our skilled Sales reps can use the ROI calculator to determine real numbers for you based off your own Management Dashboard report. Would this be something you offer in your shop? Leave a comment below.
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.