BBF-74784120 — Experienced, clean, fast-growing pawn shop for sale with great records. Well-established with terrific staff in place. Comes with $27,000 of owned inventory, and $57,000 cash on the street. A totally turn-key operation; generous seller financing for qualified buyer. Call 904-647-4755 and ask for John G TODAY!
Asking: $259,000 | Annual Sales: $382,670 | Owner’s Benefit (net) $111,386 | Cash Down: $189,000
What a pawn shop is,and what it is NOT!
A pawn shop is NOT buying, selling, and trading secondhand goods. That is a second hand store. Pawn shops are in the business of making collateralized loans secured by something of value. Licensed, professional pawn shops may have other business elements such as retail sales. However, pawnbrokers focus on lending money. In fact, the business has been referred to as renting money. So, when you see a pawn shop for sale, you are really looking at business that combines retail and loans, with the greater emphasis being on the the loan side. This particular listing has $57,000 cash on the street – which means that there are loans or accounts receivable in the amount of $57,000. (When considering this deal, think of it like buying tax liens.)
The pawnbroking industry is professionally organized with state and national trade associations that are valuable resources for information to the inexperienced pawnbroker. The Florida Pawnbrokers’ Association can be found at http://www.floridapawnbrokers.net/
Why on earth would anyone want to own a pawn shop?
- You’re helping people out at a time when they have an immediate need.
- The interest rate is quite healthy (in the case of this pawn shop for sale, the interest rate is 20%)
- “you never know WHAT is going to walk through that door!”
A Jacksonville Pawn Shop for Sale
For more information, please call 904-647-4755 and ask for John G.
Background photo: Pawn Stars, the terrifically popular TV program.
The History Channel’s ‘Pawn Stars’ has done a great deal to improve the overall image of pawn brokers. While by now – Summer 2016 – their show follows a strict formula with the same phrases in every episode,the show has demonstrated some of the mechanics of operating a pwn shop with eclectic inventory.
13 Things You Don’t Know About Pawn Stars – a recent article from the Huffington Post