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Pawn Shops - how easy to start


Julian C Thong

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Julian C Thong

Does anyone have any experience in opening a pawn shop?

 

Leaving aside the actions by established operators, how difficult is it to get a business license and stuff like that?

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But the OP was about how to start one rather than why not to start one!

If a foreigner was to do it it would make an interesting read because the foreigner will somehow get screwed over?   The big difference between the Jews/chinese/indians against your standalone forei

ok finally someone who actually has a clue about the business has posted. i agree with you phil and my inlaws here have been in that business amongst other businesses for generations. getting into the

Alfred E. Neuman

You need an appraiser licensed by the central bank ,you need at least two branches for it to work here, there two types large and small scale, the small scale accept pawned cellphones you will need half a million pesos usually 4% rate, for large scale about 5 million capitalization to buckle your belt for the next six months 3%,

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jtmwatchbiz

pm me if you are into this type of stuff and let's have a chat.

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smokey

we have both type in our subdivision a guy with 3 stores and a nice house and a guy with 15 plus stores and a huge mansion.. but there is no way this can be an easy way to make money...

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Alan S

I am sure that a foreigner cannot do so as it would fall foul of the "Negative" list.

 

Apart from that, you may well upset some of the criminal elements or vested interests that often get involved in such businesses. (in most countries).

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Bob Ward

There are no criminal elements involved in pawn shops! LOLOLOLOL Hey Julian, I know someone you could ask! LOLOLOLOL Cheers mate!

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the headline should have read how quickly do ya wanna die lol if you like living dangerously go for it .

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jtmwatchbiz

the headline should have read how quickly do ya wanna die lol if you like living dangerously go for it .

 

huh? examples please?

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jtmwatchbiz

its not the safest of occupations jim boy is it .

 

oh yes i suppose you would know as your family here is in that line of work...no wait that's me not you.

 

and please tell me...who is jim boy? :yahoo:

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jtm boy lol Its not einstein to know that working with large sums of money leaves you somewhat a sittin duck regardless of guards outside .And i for one would,nt enter into such occupation making money out of other peoples misfortunes running into bad times .

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jtmwatchbiz

jtm boy lol Its not einstein to know that working with large sums of money leaves you somewhat a sittin duck regardless of guards outside .And i for one would,nt enter into such occupation making money out of other peoples misfortunes running into bad times .

 

So There! :yahoo:

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Julian C Thong

jtm boy lol Its not einstein to know that working with large sums of money leaves you somewhat a sittin duck regardless of guards outside .And i for one would,nt enter into such occupation making money out of other peoples misfortunes running into bad times .

 

But the OP was about how to start one rather than why not to start one!

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jtm boy lol Its not einstein to know that working with large sums of money leaves you somewhat a sittin duck regardless of guards outside .And i for one would,nt enter into such occupation making money out of other peoples misfortunes running into bad times .

 

It's a loan or sale when no one else will loan or sell them much needed funds; I don't see it as a 'bad' way to make a living, but I don't see it as safe either, at least not in the sense of day-to-day operations.

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