What you need to open a pawnshop

A pawnshop means a company that provides any person who has reached the age of majority with the opportunity to receive money on the security of some valuable property. At the same time, a pawnshop gives a significantly reduced amount of money for things, but then immediately when handling it, it is completely legal.

To open a pawnshop, no large investments are required. If you have start-up capital, then you can immediately put the business on a big footing and place bets on almost all expensive equipment. It is very profitable to put motorcycles and cars at the core of the business.

However, this will require a special parking lot, as well as technical staff.

First you need to register a pawnshop as a lending institution and obtain a license. Consideration of the application and the issuance of a license will cost a certain amount of cash.

Rent a suitable room, and rent before the license. Because, the license applicant must have a room, equipment, security system, inventory, etc., in accordance with the requirements of state standards. Location is best to choose the most crowded. But the size and other parameters should directly depend on your specialization, for example, enough space is needed to store various household appliances, and special care is needed to store expensive fur.

For successful work, you will need to study the preferences, conditions and interest rates of competitors so that you can then choose for yourself specific market positions.

For minimal risks, you should strictly adhere to the special registration of all transactions made, write down the data of customer passports. Arrange with employees working in the local police unit for stolen items. This will help you avoid future troubles.

Prepare jobs, get all the necessary equipment: a safe, a computer, counters, office furniture and more.

Do not save on the security system. Remember that you are going to work with valuables, jewelry and with sufficiently large cash flows.