The retail industry has been hit hard by the economy. Though February saw a slight rise, the market is still struggling and so are the employees who are trying to survive and succeed in the industry. One corner of the retail world, deemed by many as “recession proof” and glamorized by a recent surge of reality TV shows, is the pawn business. A position as a pawn broker can be quite lucrative and offer some unexpected benefits but shop owners are extremely selective when it comes to employees they can trust with their money and merchandise.
Squeaky Clean – Pawn shop owners will run a criminal and financial check on candidates that are being seriously considered for the job. People with a penchant for pinching things, those dealing with drug habits or those neck deep in debt don’t make for the most trustworthy employees. They'll likely be passed up in favor of others with a spotless record and stellar credit.
Master Debater – Since negotiation is a large part of the position, pawn shop owners need to know their employees aren’t afraid to ask for the big bucks up front and won’t back down when challenged. Applicants should be ready to show these strengths right off the bat starting in the interview. Those who crumble when crunching numbers and shy away when discussing salary are more likely to let the customer have the lead when working out a loan or sale.
Weapons Expert – Potential employees will fare best if they don’t fear firearms or spout gun control propaganda because a large portion of pawn shop revenue revolves around revolvers and other weapons. Guns, swords, knives, and bows both new and old keep the pawn business booming. Someone who is a strong study when it comes to the history, use and value of these particular products is a welcomed addition on the team.
Genuine Article – A pawnbroker makes or breaks a profit in the margins so employees that can spot the real deal from a run of the mill knock off are worth more than their weight in scrap gold. An exceptional level of attention to detail is a necessity to avoid knock offs or spot a tarnished treasure. Product knowledge is pertinent specifically in areas like the aforementioned weapons as well as antiques, jewelry, art, musical instruments, electronics or collectibles. This kind of insight will make an applicant stand out and should be highlighted in the hiring process as soon as possible.
Tech Savvy – For the cases where an employee’s expertise isn’t enough they should know how to do the research needed to make a good deal. This means being proficient on the computer and able to dig deeper than Google or Wikipedia. More important than knowing what an item is worth is knowing what someone is willing pay for it. Pawnbrokers don’t buy things to have cool stuff lying around; they buy items to turn around and sell as quickly as possible. Sometimes that’s in the store and sometimes that’s online, either way a good employee will know how to make that happen.
One of the Family – Many pawn shops, like the one on the History Channel’s Pawn Stars, are passed down from generation to generation as family owned and operated businesses. It is important for employees to recognize that hierarchy and be able to fit into a mindset that embraces a family dynamic as well in a work environment. This might include practices frowned upon in other industries like nepotism however it also builds a tighter bond among coworkers who stick with the company.
In general, reputable pawn shops pay above retail but a trust worthy, experienced pawnbroker can bank big bucks without having to shell out the cash for a college degree. Many places also offer benefits, bonuses and an unbeatable employee discount.
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