How to open a pawnshop?

Is it profitable to open a pawnshop and how to open a pawnshop?

Is it profitable to open a pawnshop and how to open a pawnshop?

A person who is lazy and nervous will never think about how to open a pawnshop. In this not so quiet kind of activity you will always have to solve important issues, carry a lot of documents and reports with you. You need to keep the look and follow everything. This is exactly what stops many businessmen, and many who have decided to take on this business cannot even keep their pawnshop for a year. We will understand, is it profitable to open a pawnshop and what do you need to open a pawnshop?


If everything from the very beginning is successfully calculated and made a reasonable plan, then you can quickly and easily begin to receive considerable profits from the pawnshop. A well-thought-out strategy will help you make yourself a business in this kind of activity. It is worth considering that it is better not to invest all your last funds in the development of such a dangerous, but still profitable business. There is always a chance to be left with nothing, therefore it is better to take care of yourself and your future, and let the risk taker drink champagne.If something goes wrong and profits go to minus, then it is very difficult to get out of this situation, because there will still be a lot of papers and valuable contracts. This amount of documentation can easily confuse even an experienced economist or accountant. Also, competition with other pawnshops will not give develop as desired. Competitors very often disrupt all plans, because a plan against the activities of competitors is very difficult to come up with, since they are all very different.


What you need to open a pawnshop?



To begin with, to open a pawnshop you need a room, as well as for any store or office. At home, a pawnshop is unprofitable, and it is unlikely that you will be given permission for such a restructuring. This option disappears immediately. It is best to find yourself some kind of office building, in which people from neighboring neighborhoods would go. If the room is in the center, then the chances of success increase significantly. When you find a separate building, it is even better. If you think that you can place a pawnshop in a booth where chebureks and coffee were sold, you are deeply mistaken. For a pawnshop, you need at least 60 square meters of area, because the range of things that will bring here can be very wide.When planning an automobile pawnshop, you will need considerably more money and a huge room with garages and parking. In such cases, you need to take care of buying a large and inexpensive parking lot with office parts.


As for the division of the room itself, it should have two parts. In the first part, customers will come, bring their own things, property valuation will take place here, and the inspector will communicate and negotiate with people. In the other part there will be an accountant with a cash register and a computer, a place to store gold and other valuable jewelry. The room must be made beautifully renovated. This is very important, because the atmosphere can affect many customers completely. The repair should pay for itself, but of course, when things go perfectly, the profit will exceed the loss. And for starters, this fact can be discarded.


What documents are needed to open a pawnshop?



How to open a pawnshop

How to open a pawnshop




Paperwork at the opening of the pawnshop is a very difficult event. This part could be given much attention. It would not be so easy to describe everything in detail even on two or three pages.There are different rules regarding documents in different countries and regions. But all the same principle will be the same - the opening of an LLC, the permission to sell jewelry, the issuance of short-term loans, the registration with the appropriate authorities for the control of money laundering, various certificates of employees of the institution for violations of the rules regarding clients.


All that you have just read is actually only the tip of the iceberg, under which so many different documents are hidden. Starting from forms of strict accountability and ending with the insurance of each pledge. Also, it will be necessary to keep records of non-purchased items, and much more. If you do not like paper walking, then it is better to find yourself another way to make money. This method requires a person with strong nerves and patience. As simple as the seller of equipment will not be here, everything is very, very difficult and problematic. But you should not be so upset, because sometimes fate so turns the events that the pawnshop itself begins to gain momentum and everything comes easy.


For example, you can watch a short video, which will describe how to open a pawnshop in Ukraine and a brief overview of the current situation in this area of ​​commercial activity.


How to open a pawnshop in Ukraine.



What else do you need to get started?



Some expensive equipment is not necessary when opening a pawnshop, but you need to buy a certificate and a scale for jewelry. You will also need a shop window, a computer with special software (it is not the cheapest, so it’s worth considering), a cash register. Particular attention should be paid to the security system, because in the pawnshop can be stored a lot of valuable things that can lead the villains there who are looking for easy money. You will be responsible for all valuables that are stored there, theft can lead to a complete collapse of the business, so do not spare money for a security system. It's worth it. You will need to install a security alarm with alarm buttons and you need to get a couple of cameras. If all security measures are met, then the villain will not want to rob the room and the reputation will increase significantly. Yes, and you can be much calmer yourself, because when you know that no one can steal things, then you can sleep well.


Imagine that the room is already ready and equipped with everything you need. All documents are with you and all contracts are signed.There is money for the initial turnover and distribution of several dozen credits. One thing left is not a difficult, but very important task: to find personnel for work. Minimally, in order for a pawnshop to work in Russia, you need to have an appraiser and an accountant. Basically, it is necessary that the appraiser be well versed in jewelry, because it is so difficult to evaluate them right away. First, you can perform the functions of the administrator. It is a good appraiser of jewelry that will be most important for the successful development and promotion of business. If you correctly assess the value of the goods, then you will not lose money, and the profit will be maximum. Take the trouble, take your time to find a great and experienced appraiser. If there is an opportunity to entice the appraiser from competitors, due to high wages, then this will be a double benefit. Thus, you will kill two rabbits at the same time, you will increase, and the competitor will greatly weaken.



How to open a pawnshop

How to open a pawnshop



How much does it cost to open a pawnshop?



In general, a pawnshop will cost $ 50,000, no less. Such a business can pay off somewhere in 1-2 years, if it paid off during this period, it will work for a very long time.This is a dangerous game, but it's worth a try, because every year it is becoming more and more difficult to make a pawn shop.

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