Is a Pawn Shop a Good Place to Work?

Most people who want to work in sales tend to gravitate towards business, finance, or real estate. Though these are all viable jobs, breaking into said industries may take some getting used to. Working at a pawn shop can give you plenty of important sales experience that you can then apply to jobs later on in life.

Working with Credit

Pawn brokers do more than just buy and sell items. They must also know how to appraise items and work with differing amounts of customer credit.

Many customers go to a pawn shop looking for a quick loan. They may pledge any item (or even numerous items) to the pawn shop as collateral in exchange for an agreed-upon sum of money. This takes some quick appraisal skills on the broker’s part, which can be a very valuable skill in the marketing world.

Basically, the broker will hold onto the item in question for a certain amount of time until the customer pays the loan back. If the customer does not pay the loan back in time, then the pawn shop will consider their item forfeited and then resell it in the shop. The customer does not owe the shop any money at that point, making their pledged item the only thing lost.

The broker may have several on-going contracts going on at once, so you must be able to keep track of all the credit you choose to lend out. Honing good organization and bookkeeping skills at a pawn shop can definitely help you in other sales jobs later on as well.

Better Understanding of Consumer Products

Because the stock that pawn shops work with is so varied, you will get a better sense of which types of products are popular with customers, how to identify authentic items versus fakes or even stolen merchandise a customer might try to sell to you, and how the current values of items fluctuate in the market.

Depending on the type of pawn shop you choose to work at, you might even become a specialist in a certain area (i.e. jewelry, antiques, vintage furniture or clothing, etc.) that will make you desirable in specific industries. Being knowledgeable about various products and their markets can give you serious edge in the business job market. A potential employer might even value your quick eye and appraisal skills when making a business deal.

Build Interpersonal Skills

Working at a pawn shop means you will get all types of customers with different needs. Some might need a small loan to pay off a debt while others may simply want some jewelry at a more affordable price. A pawn broker has to learn how to adapt quickly between these transactions. 

Learning how to read people can be especially helpful in dealing with difficult customers or clients. You will also get the chance to deal with a diverse clientele, preparing you for all sorts of business ventures in the future.

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