25 Oct Pawn Shop Industry Helped by Reality TV Shows and Economy
With TV shows like Pawn Stars making pawn shops look fun, reputable and safe and the economy increasing the need for a pawn shop’s services, the industry’s image has undergone a huge change in the last few years.
The preconceived notion that pawn shops were seedy and full of stolen merchandise has been helped greatly by reality television. Pawn Broker Kevin says, “Now it’s more reputable. It’s a lot more computer-oriented. It’s definitely a lot more regulated. Rarely do you find stolen merchandise in a pawn shop nowadays.”
While the shows have been great marketing for pawnshops they can be somewhat misleading.
These shows focus on buying and selling, while regular pawnbrokers tend to lend money on pawn loans. This is a service no other business provides.
“The truth is there are thousands and thousands of people out there that can’t get a bank or other loan, and sometimes this can be caused by an event beyond there control, we see it all the time, they lost there job or been off sick and fell behind on a few bills which leads to collection agencies being involved. Then theirs the self-employed struggling with cash-flow and nowhere else to turn,
“And when something happens and they need cash, A pawnbroker is often the only place that will meet that need.