Pawn/Gun shop advice

[Rolling_trip]

Looking forward to visiting! You could always try to steal cmshoot from TruPrep, lol. Friendliness goes a long way and typically spreads like wildfire. With people going to the interwebs for cheap gun purchases, people will expect cheap transfers. With the Amazon mentality that people have, it’s going be tough to make money with gun sales alone, unless you do massive volumes. Go luck, and hope to visit when you open the doors.

 

[StuP]

Inexpensive pawn software that works good: Hi-Tech Pawn

Get a good quality Jewelry loop

Get gold and silver testing acid: Goes bad after 6 months of manufacture - Keep fresh testing acid

Get a Sigma Metallitics tester with the extra wands for gold and silver coins/bullion - Expensive but worth it

Get a legal for trade scale - you must have one to legally purchase gold and silver items from the public

Must be approved for pawn shop by the Sheriff in your county

Don't buy poor quality items - good customers want quality products

We pay 80% of spot price for Gold scrap, 75% of spot for Silver scrap - Most dealers are paying less than 50% of spot - see what your market will support

We pay for diamonds in customers' jewelry

There is no or minimal market for colored gemstones

Get an account with Elemetal in Atlanta for taking your scrap gold, silver, diamonds, and coins

Get a rare earth magnet as a secondary check for precious metals

Watch a ton of Youtube videos - educate yourself - the fastest way to lose money is buying something you know nothing about.

Check eBay sold listings for the price you should be asking - remember there are substantial selling fees on eBay and PayPal that have to be accounted for to set your price

Get setup with the following firearm wholesalers: RSR group, Sports South, Davidsons, Lipsey's, Iron Valley, Zanders, Hicks Inc, Bill Hicks, MGE wholesale, and Chattanooga Shooting to start.

The firearm business is a very low-margin business with new firearms - check gun.deals, wikiarms, dealers on ODT, and your local gun dealers for pricing - it is a draw for customers to your store and you can make money on used guns - you need to buy and pawn used guns to make some decent margin.

You can call me if you have questions. Ken, Dahlonega Gold and Pawn 706-300-4876

Could anyone be more helpful?

 

[steviesterno]

The real money is the loan, not the sale of stuff that’s been pawned.

I’ve always wanted to open one that’s higher end, interesting, and more antiques and fancy stuff than the used craftsman tools and Mia matched wrench sets I see all over.


See if you can become a go to for a smaller gun brand, like Henry or NAA.

 

[BDR1]

Just my opinion.. but if you wanta know how a pawn shop is run go cost ROME GUN AND PAWN.. I think though most of their business is with guns and ammo.. I don’t know about the gold and silver though.. so I may be speaking out of place.. but everything in the store is priced very good.. the price you see marked is the out the door price.. everyone in the store is very friendly.. good luck in your new business

 

[buddy.jenkins]

I've noticed a couple newer shops have really good prices for the first year or so then kinda go up after getting the name out. Just something I noticed and I understand why.
I have a family member that had 2 guns in pawn at 500 loan they interest was 125 a month on top of the 500 she payed on the guns for 6 months or so then payed them out do the math on that one lol.
I'd suggest the cheapest transfer that you can find in that area if it's only to get people in the door maybe they will buy ammo.
And the last note you do understand that more than likely you will need to put a price on the guns instead of trade only? I'm just kidding my friend I wish you the best of luck and please post the location I'd be more that happy to come see it

 

[spistols]

Inexpensive pawn software that works good: Hi-Tech Pawn

Get a good quality Jewelry loop

Get gold and silver testing acid: Goes bad after 6 months of manufacture - Keep fresh testing acid

Get a Sigma Metallitics tester with the extra wands for gold and silver coins/bullion - Expensive but worth it

Get a legal for trade scale - you must have one to legally purchase gold and silver items from the public

Must be approved for pawn shop by the Sheriff in your county

Don't buy poor quality items - good customers want quality products

We pay 80% of spot price for Gold scrap, 75% of spot for Silver scrap - Most dealers are paying less than 50% of spot - see what your market will support

We pay for diamonds in customers' jewelry

There is no or minimal market for colored gemstones

Get an account with Elemetal in Atlanta for taking your scrap gold, silver, diamonds, and coins

Get a rare earth magnet as a secondary check for precious metals

Watch a ton of Youtube videos - educate yourself - the fastest way to lose money is buying something you know nothing about.

Check eBay sold listings for the price you should be asking - remember there are substantial selling fees on eBay and PayPal that have to be accounted for to set your price

Get setup with the following firearm wholesalers: RSR group, Sports South, Davidsons, Lipsey's, Iron Valley, Zanders, Hicks Inc, Bill Hicks, MGE wholesale, and Chattanooga Shooting to start.

The firearm business is a very low-margin business with new firearms - check gun.deals, wikiarms, dealers on ODT, and your local gun dealers for pricing - it is a draw for customers to your store and you can make money on used guns - you need to buy and pawn used guns to make some decent margin.

You can call me if you have questions. Ken, Dahlonega Gold and Pawn 706-300-4876

Great info.

I never even thought of bringing my silver to you! May have to pay you a visit.

 

[greg vess]

I have a friend that has a Pawn shop. I ship a lot of firearms through him because he take extra steps in the packaging process. I stop in from time to time just to shoot the bull. It doesn't matter what he is looking atmand when trying to value he always goes to the computer to look up what the item is fetching on Ebay or other sites and basis his offer off of that. You should see some of the guns people just loose. Beautiful guns and guns worth a fortune. He makes a killing selling those on Gunbroker. Weatherby, Belgium made Brownings, high dollar over and under shotguns. Guns I lick my chops over.

 

[Rougarou]

Inexpensive pawn software that works good: Hi-Tech Pawn

Get a good quality Jewelry loop

Get gold and silver testing acid: Goes bad after 6 months of manufacture - Keep fresh testing acid

Get a Sigma Metallitics tester with the extra wands for gold and silver coins/bullion - Expensive but worth it

Get a legal for trade scale - you must have one to legally purchase gold and silver items from the public

Must be approved for pawn shop by the Sheriff in your county

Don't buy poor quality items - good customers want quality products

We pay 80% of spot price for Gold scrap, 75% of spot for Silver scrap - Most dealers are paying less than 50% of spot - see what your market will support

We pay for diamonds in customers' jewelry

There is no or minimal market for colored gemstones

Get an account with Elemetal in Atlanta for taking your scrap gold, silver, diamonds, and coins

Get a rare earth magnet as a secondary check for precious metals

Watch a ton of Youtube videos - educate yourself - the fastest way to lose money is buying something you know nothing about.

Check eBay sold listings for the price you should be asking - remember there are substantial selling fees on eBay and PayPal that have to be accounted for to set your price

Get setup with the following firearm wholesalers: RSR group, Sports South, Davidsons, Lipsey's, Iron Valley, Zanders, Hicks Inc, Bill Hicks, MGE wholesale, and Chattanooga Shooting to start.

The firearm business is a very low-margin business with new firearms - check gun.deals, wikiarms, dealers on ODT, and your local gun dealers for pricing - it is a draw for customers to your store and you can make money on used guns - you need to buy and pawn used guns to make some decent margin.

You can call me if you have questions. Ken, Dahlonega Gold and Pawn 706-300-4876

Thank you so much you answered the tough questions right off the bat, this goes to show why Dahlonega Gold and Pawn is one of the top pawnshops in Georgia they have a awesome owner.

 

[Rougarou]

When you open your doors, post here so we can visit!

Will do hopefully in the next couple of months our building is built just doing the final touches to get inspections done.

 

[Rougarou]

The real money is the loan, not the sale of stuff that’s been pawned.

I’ve always wanted to open one that’s higher end, interesting, and more antiques and fancy stuff than the used craftsman tools and Mia matched wrench sets I see all over.


See if you can become a go to for a smaller gun brand, like Henry or NAA.

Already talking to a couple of manufacturers that will deal directly to us so it's looking good.