Starting a Pawn Shop Business

This article briefly discusses the pawn shop business. Find out some of the things you need to know in order to start your own pawn shop business.

Pawnshops have been in existence since early history and is said to be one of the oldest trade known to humankind.

Pawn Shop Business

The fact that this industry still remains to this date only goes to show how solid and resilient it is. This should serve as an assurance for those who have their sights on starting their own pawnshop business.

The pawnshop industry fills a need that the banking system cannot cover. A bank loan generally takes time to process, time which the average pawn shop client does not have. The concept of easy cash is the reason why most people are drawn to pawnshops instead of banks or other lending institutions.

How exactly does a pawn shop business work?

Simply put, pawnshop owners or pawnbrokers offer high interest short-term credit to their clients. The amount of loan is dependent on the value of the pledged good. Compared to banks, pawnshops provide an easy and quick way to loan money.

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  • A pawnshop transaction can be divided into four steps.
  • One, a client brings an item (usually but is not limited to jewelry) to be used as collateral for a loan.
  • Two, the pawnbroker assesses the value of the item and proposes a loan amount. It is vital therefore for the pawnbroker to be adept in testing the authenticity and value of precious metals and gems. If the client is agreeable to the amount, he or she then enters into a transaction with the pawnbroker which culminates with the latter lending the client the money. The pawnbroker then issues a pawn ticket wherein the following information is indicated: the item’s description, the amount of money loaned, and the date the money is due back.
  • Three, the client repays the loan after the given period of time and to get the pledged item back.
  • Four, in case the client fails to repay the loan, the pawnbroker gets to keep the item.

How to get a pawn shop license

No person can run or operate a pawn shop business without a license. To get a license, you must first accomplish and submit a pawn application form to the Non-depository division of your state’s Department of Financial Institutions. Subsequently, you also need to pay the stipulated application fee which on average range from $1,500 to $2,000 per branch.

  • You will then be required to submit the following supporting documents to verify your financial standing and character.
  • A comprehensive financial statement duly verified and prepared by a certified public accountant. Your aggregate net worth and liquid assets must meet the minimum amount set by your state.
  • A credit report for your business so it is best to have this report on hand.
  • Written proof that you have garnered the required minimum number of years of finance related experience.
  • A criminal record report from the state police where you reside.
  • Reference letters preferably coming from depository financial institutions.

You will be given a pawn broking license only after your application has been approved. Once you have your license, then and only then can you be deemed authorized to launch and operate a pawn shop business.

This Video Explains How a Pawn Shop is Operated

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252 Comments

  • Bryan St.John said on January 16, 2009
    wanting to open a pawn shop in iowa. Need to know about licenses i need & loans I need to start. what ever else I need to start this business.
  • carol goforth said on January 19, 2009
    Very serious about opening a pawn shop and pay day loan type business in small town in Texas....What is the criteria as far as licenses before we go any further.
  • Peter said on January 26, 2009
    Hello, my questions are:
    1. How much should the aggregate net worth be? US$ 1 Million or more?
    2. How much should the working capital be?
  • Jake said on February 6, 2009
    is there any special weapon broker licenses required when operating a pawn shop? I am planning to open one and accept firearms.
  • justin said on February 10, 2009
    1) what would be a reasonable amount of start up cash (not counting my monthly utilities and rent)to get my pawn shop going?(no guns!)I live in Indiana.. thanks for all the good info! peace.
  • Steve said on February 25, 2009
    I was researching about opening a pawn shop , how do some shop operate without lincense where they say they buy your item and then give you 2wks to buy it back ? They charge 25 per hundred ? Dont understand
  • Duncan said on February 26, 2009
    I live in North Carolina, are you saying without being rich with excellent credit, then there is no reason to consider opening a pawn shop, in the little town I live in in Eastern NC a Pawn Shop would do well, I have a store in downtown across from courthouse that I can lease for $500 a month.(a old gas station)
  • KEYS said on March 1, 2009
    Thanks for the present information. I ask what offices or directives in business should be contacted and/or established in order to run a successful shop. Should a Jeweler be hired to examine precious metals & gems? Can firearms be traded or submitted for Pawn in NY with a license shown by the Pawnee? Is there a more comprehensive list of information that could walk me through the steps of opening this business, that weighs the pro's an con's of the business? I thank you for our attention to my inquiry. idegohi@yahoo.com
  • Mark said on March 3, 2009
    1. How much should the aggregate net worth be in PA or where would i go to find that information.
    2. Also i was wondering pretty much the same things as KEYS.
    If anyone could help me that would be great, Thanks.
  • Jon said on March 4, 2009
    I want to open a pawn shop in wi. I went through a bankruptcy. is this going to cause a problem starting the business.
  • Kamangu Tube said on March 11, 2009
    Would love to know the requirements to start a Pawn Shop in Jacksonville, FL. Any information would be greatly appreciated. tubekamangu@yahoo.com
  • Shawn said on March 15, 2009
    I, like Mark am interested in opening a pawn shop in PA. Are there any comprehensive courses that you can recommend regarding the business operations?
  • Rick said on March 18, 2009
    I want to open a pawn shop in Texas, How much should the aggregate net worth be? US$ 1 Million or more? 2. How much should the working capital be? Thanks for the present information. I ask what offices or directives in business should be contacted and/or established in order to run a successful shop. Should a Jeweler be hired to examine precious metals & gems? Can firearms be traded or submitted for Pawn in NY with a license shown by the Pawnee? Is there a more comprehensive list of information that could walk me through the steps of opening this business, that weighs the pro's an con's of the business? I thank you for our attention to my inquiry
  • David said on March 26, 2009
    I need any information on the licensing or permits other than a business license to open a pawn and pay day loan business at a single location in Tennessee. As of yet nobody has been able to answer my question. Any help will be greatly appreciated. Thanks
  • GT MURPHY said on April 1, 2009
    I WANT TO OPEN A PAWN SHOP IN PA, WHAT DO I NEED TO DO?
  • philippines said on May 11, 2009
    Philippines has the highest interest rate return of investment in less than 2 years surely possible. only $60k/branch for complete investment
  • philippines said on May 11, 2009
    TO RICK YOU CAN VISIT PHILIPPINES AND LOOK AT OUR PAWNSHOP LOCATIONS ALL OVER THE COUNTRY . YOU CAN OPEN AS MANY AS 8 TO 12 BRANCHES IN KEY CITIES FOR $1M. FAST ROI, LOW SALARY, CHEAP BUILDING RENTALS YOU CAN STAR 1 FOR ONLY $60-80K.
  • ROB said on May 16, 2009
    LOOKING TO START A PART TIME CASH LOAN BUSINESS, NOT A PAWNSHOP BUSINESS. WHAT DO YOU SUGGEST I ACCEPT FOR COLLATERAL. (NO CAR / MOBILE HOMES TITLES ETC.)
  • Dwayne said on June 1, 2009
    I'm looking to start a pawn shop in a small town in Kansas, how much start up capital do you think I need, and do I need to be bonded?
  • cassandra said on June 18, 2009
    can a pawnshop loan on a vehicle if the person pawning that vehicle is not the person named on the title?
  • jorge said on June 23, 2009
    I want to open a pawn shop in Denver. where can i get the license?
  • jabooh said on July 4, 2009
    "written proof that you have garnered the "minimum" number of years of finical related experience."

    a)could you define a little more of the details of what minimum years would be ?

    b)could you define what kind of related experiences would be acceptable and an example of what might be unacceptable? thanks
  • J.R. Downs said on July 26, 2009
    I cant find an application on the web for my licenses to fill out to start a new pawn shop? Need help!
  • jessica .n said on July 26, 2009
    i want to open a pawn shop in PA. how much start up capital do i need.
  • alon said on July 27, 2009
    To all, each state have different regulations regarding pawnshop for example in Florida you need not to be a criminal you need a net worth of 50k and up, or to put down 10k in bond, this is in order to get a "license". about the working capital you need as much as you need to actually make a business for yourself, the more working capital you have the more money you can loan.
  • alon said on July 27, 2009
    in florida this is the website http://www.800helpfla.com/pawnbus.html
  • steve said on July 30, 2009
    Can you own a pawn shop if you had a felony. Not in the last 20 yrs.
  • James expert adviser said on July 30, 2009
    @Steve, You can own a pawn shop if you had a felony but getting finances will be tough.

    Jestin James
    Startup Biz Hub - Senior Advisor (Staff)

  • Jennette said on August 2, 2009
    want to open a pawn shop in North Brunswick, NJ. How do I go about finding out what the rules & regulations are? How much interest you can charge? What you can and cant do? etc
  • Lorraine said on August 18, 2009
    This is a question for Michael in California. What city are you planning on opening your pawn shop? I do not have any specifics for California but I too am interested and thought we can share information if you are interested.
  • carter said on August 18, 2009
    I want to start a pawn shop in atlanta, ga. Any help that can be given would be greatly appreciated.
  • cliff said on August 30, 2009
    i want to open a pawm shop in miami, florida. where can i get the license and how much money do i need to start it up
  • Richard said on September 9, 2009
    I want to start a pawn shop up in IL. I was wondering does anyone know what I need to do to open one.
  • dominico uno said on September 17, 2009
    i want to open a pawn shop in Philippines, particularly in quezon city and nearby provinces anyone's help?
  • Nancy said on September 26, 2009
    This article is very helpful; I want to do business in California and now I know what I need to start. Thanks much.
  • michael said on September 28, 2009
    Hello. My name is Michael I Am 17 Years Old. And I Want To Start My Own Pawn Shop. If There is Anymore Information That Anyone Can Tell Me To Help Me Out. Plz Email Me At lee1112009@live.com thanks.
  • Ruben Zaragoza said on October 4, 2009
    I want to start a Pawn business but i do not have a building. Can I do it from home? If so what do I need to get started. I live in Dallas, TX. radrecruiter101@hotmail.com
  • Jon said on October 17, 2009
    I have worked in a smaller sized pawn shop for the past 4 years and have a vast knowledge of how the business is ran and what things need to be consider when starting the pit falls. If you want to chat or need some help let me know. I would like to start my own shop but I will need at least $25,000 to $30,000. Most of your money is the interest you make not on the goods that you get. The state I am in you can get about 35% return on your money in the form of interest. I have seen people put this in pawn for $100 and leave it their for a year and pay $350 in interest and reclaim it at the end. Their is good money here.
  • patricia deleon said on October 20, 2009
    Is the government grands and loans available for start up if I wanted to start open a Pawn Shop? Also does it matter what area I am in? I live in a very small town, and there is only one shopping center literally! and the next town over is the same way. Not to sound bias, but the area is mostly made up of cacians. The next town over has more of a mixed vibe, and it's known for a diverse population, should I consider having my business there. If I didn't open it up in our town, I don't want my kids getting a bad rep at school. that is how small this town is. I also want to know with my antique background can I use that for a cover in the name instead of using Pawn shop in the name. Is there another name to use? I mean is there other names I could use and incorporate my antiques so I maybe can stay in my hometown as well, the reason I ask is because where I live I can work from my home. I have a real dilemma, having space to use for a business but how to word it, any ideas?
  • Soon2bRichBitch said on October 23, 2009
    looking to open pawn shop in new york city if anyone has information on how to get a license?
  • shawn beginner adviser said on October 30, 2009
    anyone wanting to open a pawn shop should reply back to me. I am willing to talk about helping "you" get in the business.

    I would like to sell some type of "franchise", where I could provide inventory and knowledge to get "you" up and operating and then provide support till "you" get it.

    I of course would need to take a cut of "your" business for this. I would rather be a consultant for you than work at my brick and morter.

    You could even come work at one of my stores for training. I have an open mind and would like to hear some thoughts on this idea.

    satbmt@gmail.com

  • Ed said on November 1, 2009
    I would like to open a pawn shop in colorado, who do I contact about getting a license, and minimum capital to start
  • shawn beginner adviser said on November 1, 2009
    Ed, Go to the court house to the planning department, and the business license place. They will let you know any special codes associated with pawnshops. County to county, city to city the codes are different so go check, they will tell you what you need to operate a store. Minimal capital?? I would say after all remodeling and stocking your shelves with inventory you would want no less than about 20k in cash and that # assumes very little overhead.......like 5k/mo.

    satbmt@gmail.com

  • Winston Doyle said on November 2, 2009
    I can help on a commercial basis. Recently retired, I have had 50 years experience as owner of a group of pawnshops in Sydney, Australia.
  • luke Wilson said on November 3, 2009
    Could anyone help me with the requirements for Arkansas to get your license. Also if you can get a license with a felony. This website has been very helpful. Any response would be greatly appreciated.
  • Eddie said on November 9, 2009
    I am interested in opening a pawn shop in nw fla, can anyone help w/ requirements and any helpful info.
  • Kim said on November 17, 2009
    I need any information on the start up cash, rules, regulations, licensing or permits to add a pawn business at my existing business location in North Georgia. I already have an established business and want to add it as an addition. kls@carpetcapitol.com Thank you
  • veronica fuentes beginner adviser said on November 18, 2009
    SIMPLE PROCESS START WITH YOUR TOWN OR CITY HALL TO APPLY FOR A BUSINESS LICENSE. YOU WILL ALSO NEED A SECOND HAND METAL LICENSE TO BUY GOLD OR GEMS THIS REQUIRES A CRIMINAL BACKGROUND CHECK. THIS HAS TO BE APPROVED BY YOUR LOCAL POLICE CHIEF AND TOWN MANAGER. YOU MAY BE REQUIRED TO POST A SURETY BOND FOR THE METAL LICENSE. MORE INFO VRFUENTES71@AOL.COM
  • veronica fuentes beginner adviser said on November 18, 2009
    HOPE THIS WILL BE HELPFUL TO ALL OF YOU!!!
  • armando serrano said on November 21, 2009
    I am looking information of a broker to open a pawn shop and license to buy gold, I am located in a jewelry mart in los angeles and I have an established business. I been told that you need a expediter broker, it is truth? please help me to find out thank you Aserrano
  • Scott Edgell said on December 5, 2009
    I am seriously interested in opening a pawn shop in eastern PA. I have capital, and little knowledge of the industry. I would be interested in Shawn's offer above and would also enjoy speaking with any others in eastern PA that would be interested in starting a venture. I have a partner who is currently an executive in the finance industry. Please feel free to contact me scottedgell@comcast.net
  • steve shapiro said on December 11, 2009
    NY, New York. How can i open pawn shop in N.Y. and license for this. Thank you.
  • DAVID J. BARFIELD said on December 16, 2009
    Need more help in starting a pawn shop. DALLAS, TEXAS USA
  • danny said on December 16, 2009
    SHAWN...Hey I'm located in Queens, New York. Interested in your business proposal about helping start up a pawn shop. Got, what I think is a great location. Thanks
  • JOHNNY GARCIA said on December 19, 2009
    i need info on licensing and all basic info on opening a pawn shop. i have $150,000.00 dollars cash available and i also have a partner that has run several shops as a area manager for a large national chain hear in miami for the last 4 years so experience isn't an issue. but i still need so sound advice location i have percentage in area is 25% on loans that is the going rate in this area of town. please help in any advice would be very much appreciated you call me or e/mail 786-278-4400 / rcar33177@yahoo.com
  • Paul said on December 23, 2009
    Live in Virginia. Trying to open up a Pawn shop here. Ran a large pawn shop for a year when I got there they made $83,000.00 a month when I left we were making $102,000.00 per month. Can help anyone with advice on daily running of a pawn shop. Possible looking for investors. Different requirements for different states so don't ask me license questions. Would consult and can give you clear and precise answer on day to day business. Paul 757-236-6730
  • aaron said on December 28, 2009
    I'm looking to start a Pawn Shop in Central Pennsylvania. Where would I be able to obtain all the information I would need to start the business? ie. licenses, reports and net worth or start up capital?
  • Michael Collins said on December 29, 2009
    This is good business, hassle-free. In a country like Uganda, where access to finance is difficult, pawn business would help a great deal. Please provide some little more literature about the business.
  • tom reed said on January 2, 2010
    I'm looking to start up a pawn shop in kentucky were can i go to find out what i need to know
  • Jason said on January 2, 2010
    I'm opening a pawn shop in Hamilton, MI and I'm wondering was is maximum charge that i can charge for storage and handling fees?
  • Gary said on January 3, 2010
    What is the maximum interest and fees that can be charged in Tennessee?
  • Gavin said on January 6, 2010
    Need help, want to open a pawn shop in central jersey. Was thinking about taking someone on as a partner. Or possibly we could share and exchange info? Gavin, 484-686-4426, Email: ObrienGavin10@yahoo.com
  • kelly warmoth said on January 8, 2010
    what are the licensing procedures for a pawn shop in my area. Butte Montana, USA 59701 Silverbow County.
  • Jake Smith said on January 11, 2010
    I am looking to start a pawn business in Michigan. I was wondering if someone could let me know the process. What it takes to get the license, positives and negatives of the business. Anything that would help me in my journey. Thank You, Jake
  • John Madsen said on January 12, 2010
    I would like to start a pawn shop just west of Nashville tn asap, before someone else does, great location. I don't really know what i am doing, so I need all the help i can get. Have about 20,000 in capital. will that work.
  • John P said on January 13, 2010
    I would like to open a pawn shop in southwest Colorado. who, what and where do I do to start up and besides the budding expense what would I need to start in $$$$ ??
  • Carli DiPaola said on January 18, 2010
    I am looking to start a pawn shop in a little town called Caro, Michigan in Tuscola County. Can you please send me the information on what I need to start this business? Such as licensing, permits, and etc.? Thank you so much!!
  • elmer cramer said on January 20, 2010
    I'm wanting to open a pawn shop in stafford, virginia and i needed to know what requirements this state has for being bonded and the laws around opening one. Thanks for your time.
  • Chad C said on January 26, 2010
    I'm wanting to open a pawn shop in a small town in WV. I'm looking for someone local who can help me get started. You can contact me at mountain_man_chad@yahoo.com. I already have some inventory and a very nicely located building. I would appreciate any help on getting this started you can offer.
  • sheldon said on January 30, 2010
    yes i have a couple of questions about starting a pawn shop, is there anyone that knows a lot that could give me there phone number to call them and ask them some questions?
  • Michael Vuong said on February 3, 2010
    i want to open the pawn shop in dallas texas, i heard you have to send the report to pawn shop controller every day. do you know where the phone and address, also what is the format for the reports. thanks for your help
  • Adam G said on February 6, 2010
    Hi ya'll, this information is great. I am considering opening a pawn shop/hunting/outdoor business in central WV. All help or advise is appreciated. Please contact me @ asgray20@yahoo.com
  • Adam G said on February 6, 2010
    To Chad C: Where in WV are you located? I'm in Clay County. Would love to hear back from you I believe in our state, pawning and especially outdoor sporting goods is a very profitable business. Let me know if you're interested. Thanks.
  • aaron maxson said on February 8, 2010
    Hello, I am looking for anyone with information on obtaining a pawnbrokers license in phoenix arizona.
  • Glo said on February 9, 2010
    Federal law states PAWN LICENSE does not entitle one to do loans on anything that needs a title. THEN HOW CAN YOU DO TITLE LOANS? Please advise!!!:-)
  • Munee said on February 15, 2010
    Looking for a partner in a pawn shop located in cleveland oh. I have around 20k & some contacts. My # is 216-630-8401! Please feel free to buzz me...,,,
  • Kenneth D Ramsey said on February 16, 2010
    I live in Oklahoma City Oklahoma and have ordered your cd rom and i was wondering how many years you have in this business and if a person after reading your program if they have any questions of they can contact you personally for your insight on the question. Ken ps as per say i want also to do a pawn a car
  • tom said on February 17, 2010
    I have been in the business for 20 years. I am also a consultant. I would come to your business and train you for up to 30 days. It is a cost that could be rolled into your business expense. I have opened over 25 locations. Some private and some corporate locations. I am a member of the NPA. The national pawnbrokers association. What I can teach you in 30 days will make sure you do not make the costly mistakes every pawnbroker has made. Valuations of gold, diamonds, electronics, wholesalers who you can open accounts with, Diamond wholesalers who will give you diamonds to sell for free on consignment. Gold refiners that pay 99% of gold value. I have done it all. Things you should expect being a pawnbroker. 60 hour weeks, security issues, theft, dealing with local police departments, reporting your items to the Police, dealing with people who are not in a good mood a lot of times, location, location, location, STRESS, STRESS, STRESS. This business is not like Pawn Stars. They are in a unique business location and they are on TV. You can email me at openapawnshop@yahoo.com
  • kellie robertson said on February 19, 2010
    canton pa. i need information on how to start up a pawnshop what i need to get as in license, insurance and any other information that could help me. thanks
  • Charles said on February 23, 2010
    I grew up in a VERY musical family. Music was regarded as priority. Study. Practice. Understand what the magical theory can do. After school, I sold Yamaha, Steinway, Baldwin, and literally 100's of other brands. I lived in a paradise of fine woods, brilliant mechanical engineering, and the 12,000+ individual pieces are the DNA found in the world’s finest grand pianos.

    Synthesizers, digital pianos, and hybrids etc. I play very seriously. That is to say.......I play....very....seriously..:) Bach, Beethoven, and the Boys! I know everything about guitars, acoustic/electric. Brass, strings, percussion, It's my greatest passion. The beauty of each and every instrument. The beautiful sadness....cheerful Ragtime.. An $200,000.00 Bosendorfer CONCERT GRAND PERFECTION! Or....a simple .25cent Kazoo ~ I love that I am one of the fortunate few, so grateful, I am always happy, even when I'm furious.. Teaching a room full of phd's the fundamentals of theory......nothing better. PLUS

    I can sell. I believe in it. I'm clean cut and a seasoned pro. at forty. Been around the world to learn. 20 years! Still, there's much room for improvement. Much more to learn indeed! The economy. Nearly 50% of top-notch piano stores sank. We sank. It's been month's and my head hangs....slumped.. gets worse... you know.. A Long time ago, when i was much younger, i wound up with a felony conviction. My father, being an attorney, went home that day, and shaved his ass. That single felony has slammed every door... in my face. I thought that's what the losers said. The negative nellys. The lazy good for nuthin's that were stuck in the mud. I couldn't believe. I still can't believe. Once you've crossed into the land of the convicted, forever more, you're, "one of them." The people in this business KNOW I'm a true professional. They KNOW I recognize quality. They TRUST me, etc... But, when it comes down to making a choice, I'm a potential liability. I understand. Honestly. Not anger. Nor bitter. Nor vengeful.. nor cheated.... I respect our laws. Hopelessness is.. to slowly suffocate..out.. run out.. No wife, no kids, no, nobody really. INFJ. . . .

    But sssSSSHHHH!!! ...WAIT!!! I SEEE it. IT! I'll be back in my element (sort of) with my OWN shop! I recognize quality. I know what'll sell etc... I'd create the CLEANEST TOP QUALITY PAWN SHOP ~ EVER!!! I'll need to start learning NOW! A RAY of LIGHT!! learn and learn and LEARN!!! I haven't felt ...haven't....~f e l t ~...months. Laugh! I have found The Holy Grail!!!!! I am living in the FASTEST GROWING tri-county area, in the COUNTRY! Open up the window shades! Where's my KAZOOOOO!!!! :) .....then I read about the... "no filthy felons allowed".. part email me ~ i'll send you a kazoo ~ fun!
  • mark schatzman said on February 25, 2010
    I am interested in opening a pawn shop in harrison ohio usa I read through some of the code of ordinances. Is it true that each state dictates what interest you can charge on a loan & the amount of time you have to hold a persons item. Other areas i'm interested in are KY & IN. What info. can you give me about these areas. Thanks Mark
  • Max said on March 2, 2010
    Hello, I am currently interested in any information on opening a pawnshop in the Phoenix metro area. I would like to speak with anyone that might have some info on the subject or that has the same interest. contact me at maxsongia@gmail.com
  • J.D. said on March 2, 2010
    I am interested in starting a pawn shop in colorado, if anyone has any info that would help me get started please contact me. SmithPINOCHLE@aol.com
  • Jeremy said on March 4, 2010
    How much monetary capital would it take to open a pawn shop in lakeland, Florida if i already have all the inventory
  • James said on March 7, 2010
    I like to open a pawn shop in michigan. How much capital and how do I get a license and information how to contact. thank you.
  • Brenda Morrison said on March 12, 2010
    I live in a rural area (Rowland, North Carolina) i would like to know the requirements for North Carolina such as how aggregate amount and assets.
  • William Lucas said on March 12, 2010
    I run a very prominent store in West Virginia I have been running for 3 years now and would be glad to help you get started as I was a new guy @ 1 time and spent thousand learning the ropes, laws, bonds, and licenses, I would maybe even consider for a small fee helping you get started on your business, as i have a little free time now. Most states are the same as for the laws, Some cities have a Bond you have to get but most it paper work and money I have help a friend in florida get 1 started and he is doing great now. If you need any advice just ask. William
  • Tim said on March 15, 2010
    William Lucas, I would be interested in hearing your offer for the "new guy". I am outside of Buffalo, NY. I have been researching the pawn business for 6 months but realize nothing beats hands on knowledge. Start up inventory, store size and security along with what are the best items to focus on are just a few of my questions. Tim tpk1426@aol.com
  • Ed said on March 19, 2010
    Central Kentucky. I am interested in opening a pawn shop and was looking for a reasonable estimate of initial operating capital, after stocking store etc. My proforma monthly is around $3500. What is a reasonable amount in reserve for pawns?
  • payam said on March 31, 2010
    hi i need information, to open a pawn shop in boston ma, can some one help me to find out how to start, Thanks, payamnet@yahoo.com
  • YosefMama said on April 1, 2010
    First off, I find it horribly sad that most of you fail-entrepreneurs will not take the simple advice and CALL YOUR LOCAL GOVERNING BODY AND ASK ABOUT THE SPECIFICS YOURSELVES. The internet just widens the gap of 'potential' for successful business. With that said, I have a question for those that have worked for or owned a pawn/loan business.

    Do you think it's smarter to start small, for the sake of small risk, with the intention of growing quickly and roughly planning for such? Or do you start bigger with a decent existing inventory and try to hit the ground running a marathon?

    I have a situation where I have plenty of real estate to choose from, in all sizes, but still in an area where an establish would flourish. It gives me the ability to quickly plan for a bigger space, even on the same block, but never committing unless I had it perfect.
  • hugo duarte said on April 5, 2010
    1902 w. university dr. edinburg tx 78539. is there such licenses for pawning. for a maximum for two months to lend customers. I've heard their is a license for the amount of $3,000.00 dollars that operates as a pawn
  • larry said on April 6, 2010
    I LIVE IN MISSOURI A SMALL TOWN AND GROWING RIGHT OUTSIDE COLUMBIA, MO. AND WANTED TO KNOW HOW MUCH CAPITAL I WOULD NEED LIKE THE BARE MINIMUM. AND ANYTHING ELSE I WOULD NEED TO KNOW ABOUT HOW TO GET STARTED AND MAKING A PAWN SHOP WORK
  • josh said on April 18, 2010
    If you are looking to buy a pawn shop that is well established let me know. I have three successful shops located in VA. Been open 13, 9, & 3 years. I enjoy the heck out of it. I enjoy money too, so none of my shops would come cheap. Let me know if your interested, and I'll keep checking this post.
  • John said on April 26, 2010
    Like every business in America, you need $$; lots and lots of $$. And immaculate credit. Which sucks because I have neither and don't know anyone who would be willing to loan me the hundreds of thousands it would take. America is a land of opportunity, if you already have the $$. Very hard to start anything from scratch these days.
  • George said on May 18, 2010
    Hi, Interested in opening Pawn Shop in Washington State and looking for a partner or anyone who has info or can help me with getting it started. Contact: ricoman@tds.net and lets talk.
  • Kiran said on May 24, 2010
    josh in Virginia.....I am in Virginia and am looking to open or even purchase existing store......please contact me at kidsienva@yahoo.com ....thanks, and also anyone with info on Virginia laws to start Pawnshop.....
  • fatmira lezo on 29/5/2010 said on May 29, 2010
    Hi, Interested in opening Pawn Shop in albania. How much capital and haw much monetary would, and how do i get a license can help me pl with getting it started contact sele62@hotmail.com
  • mina said on May 29, 2010
    I like to open a pawn shop in europ plais like albenia. how can i do fast contact sele62@hotmail.com
  • chris said on June 2, 2010
    Andrews n.c. i'm wanting to open a pawn and gun shop. with about 1800 people in the city 26000 in the county. there's a pawnshop about 10 miles in the next town. could i be successful.

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