As promised, we wanted to deliver the first in a series of blogs that discusses each of the major elements that are included in each and every Devoted Pawn Consulting Service Packages. We could not think of a better subject to begin with than the hands training that we give each and every client and staff member on the pawn counter AND retail sales floor. The reality today is that in most pawnshops around the world, the majority of the transactions are done by a $10-$15 an hour employee who owners “hope” are doing the right things for the business. In reality, most outdated bonus plans and training out there in this industry have the staff inflating the pawn book with loans that do not pay and selling at too much of discount to make a commission all while the store doesn’t make money. As a client of ours says, “how long can you pay $1.00 for an item and sell it for $0.97 and survive”. We agree and that is why we include hands on training in each and every pawnshop consulting service. You could argue that it is the single most important thing that you need to have as a pawnshop owner!
What is Our Hands-on Pawnbroker Training?
In each and every service package we are looking for ways to increase business in the stores and to provide an immediate return on investment. The hands-on training is no exception. When we arrive in your store, we will be evaluating how you interact with the customer, your valuation process, how you talk to customers about items we do not want to take, or when we cannot meet their dollar amount, how you qualify the loans and the customer and more. We are also looking at your sales floor. How are you merchandised, how are you selling, how much are you discounting, what does your pricing look like, how does your staff communicate and close deals and more. All of these observations and more give us tremendous insight into where the “missed opportunities” are and how we can immediately help you make more money. From there, we craft your custom pawnbroker and sales training for your team. The pawnbroker training is designed to help pawnbrokers to close more deals and have less missed opportunities, how to get more loans on items you actually want, how to get more business from each and every customer and more. On the sales side, we teach you through merchandising, signage, pricing and sales technique how to sell more, discount less and get your customers to do even more business with us. This is so impactful and easy that our average customers are seeing increases in pawn balance and service charges of well over 20% as well as sales increase of closer to 30% which a much higher Gross Profit. What could it do for your pawnshop? Stay tuned for more blogs on what is included in our service packages. You may also contact us for more details or call us at any time at 727-580-5876
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