Tuesday, December 7, 2010

Our promise and what to expect

Bravo systems compliment the novice user and enhance the expert.  Businesses time invested in front of a computer terminal day in and day out should do more than print tickets, tags, and end of month reports.  Bravo’s approach transforms your effort into yielding profit from every click!  Its design was to cut out paperwork, reduce footsteps and eliminate missteps.  We reutilize every aspect of your daily activity to create efficiencies so that everyone in your store can do more – and smarter.  In today’s business environment this is a critical opportunity.
Bravo makes ‘Pawn sense’.  Our business is unique.  We are great retailers that sell used stuff.  We acquire merchandise from the public, one item at a time.  The Pawn business must maintain healthy margins.  Since the products we sell are used, we need to be critical of its condition and quality.  When we acquire products well, there is usually a good outcome. 
Microsoft and Bravo will be the latest and best solution ever brought to market. With the advance of the ‘network’ and ‘technology’ there has never been a better time to develop a new system solution.
·         You should expect complete functionality and dependability.
·         You should expect a complete system to cost a lot less.
·         You should expect features to exceed your expectation.
We took the time in making an investment in our team to retool and update their skills.  Our technical teams are experts in the used good and the pawn business.  Great technologies and experienced business knowledge make for great systems.
Are you ready for a new system?  All we can hope for is that you consider our opportunity and follow the progress.  We have included and will be adding feature videos.   Please sign up for Bravo so that we can keep you informed and in the end, earn your business.
Thanks, and please join the Bravo Revolution.

Thursday, November 4, 2010

We are looking for a few good PawnBrokers

We plan on beta launch  March 31.   BRAVO basic will include all of the functional features that you currently have but with today's latest technology. The first point of sale of its kind, BRAVO will be a complete web solution based on Microsoft WPF - WCF - .net4 - Visual Studio 2010. This new technology will run on your browser. No new hardware will be required. It will reduce your hardware commitment by 50%.   Each workstation will accommodate up to 6 USB appliances. The BRAVO dashboard will graphically direct your attention; you will feel like the captain of your ship. Command and Control.

We are looking for 5 operators that would like to participate as our Beta Team directors.  The first stage of release will only require you to test and comment in demo mode with test data. Over this 30-day period, we will make changes that will reflect your comments and opinions. Our Beta Team members will be given the option to participate with the Go Live version, and for their participation, will receive the product FREE for the first year.

If you have interest in participating please contact me at Steve@ztradingpost.com.

Wednesday, November 3, 2010

Sneak Peak at Bravo


BRAVO MOCK UP
 
We are very excited to show you the advanced mock version of BRAVO.  You can simply click on the image for an enlarged view.  Customer Information - will contain the essential information that is required for all transactions and easily accessible at all times.  BRAVO customer search enables smart technology to minimize duplicate customer records.  BBI - Bravo Business Intelligence is the next generation of useful data compilation.  Users at the customer counter don't have the time to cipher through charts, graphs, and reports.  Users need directives and answers.  Is this a good customer?   How good?  Why are they good?  What areas of the services our store offers do they utilize.  What can I do for this customer to enhance their customer experience and loyalty.   BRAVO will offer a variety of drop in BBI-components in the same manner as Apple Apps.  You get to choose what you want to see.

Employee Feedback - BRAVO will track each signed in employee/user.  There will be 3 levels of participants.  Gold, Silver, and Bronze.  Users will be awarded tokens for superior performance.  Users will be rated against their peers with in your store, company and Global BRAVO community.  Our success is determined by the accurate and participative input each person signs into BRAVO daily.  Each year BRAVO will award cash and recognition to outstanding users.

SMART SEARCH - is a BRAVO exclusive that recognizes Manufactures and Models, UPC codes, Store labels, Inventory Numbers, Receipts, and Reports that takes you to the process associated. Scan a inventory number it will forward you to the Point of Sale.  Type in Canon G11 it will forward you to the "Estimator" for accurate and up to date valuation for a Pawn, Buy, or Trade-in.  Its cool and smart!

JEWELRY ESTIMATOR - Another BRAVO exclusive is a way to no more guessing what a jewelry item is worth.  Hallmarks and Brands will be a breeze to associate to special piece of jewelry with BRAVO.  Select through a carousel of images to identify quality, color, and shape of Diamonds and Colored Stones.  BRAVO turns the novice into a productive identifier of product values saving time and broadening your expertise on the service counter.

Gmail - Integrated Gmail from Google.

Clock - Wow what a novel idea, click on it and "clock in".

Ebay, FedEx, MaxPawn, PayPal - no more double entry.  BRAVO will integrate all of these partners into a seamless accountable process.

We are moving quick so stay tuned and sign up for the newest announcements.

Steve




Cloud Computing

Cloud computing will become a standard platform for everyone's software. Microsoft will be our Cloud Partner as AZURE. Do you use Gmail, Yahoo, AOL, MSDN, or Lotus? All of these mail services are Cloud services. BRAVO will utilize Cloud services to lower cost and maintain and support; maximize stability 999; and add security. If you want to know more about Cloud Computing please read.  AZURE - Microsoft Cloud.

Our Team is set out to fullfil a dream - Bravo

What are we set out to accomplish? When I entered the pawn business in 1980, I wanted to change the face of the Pawn Industry. In Nevada, Arizona, and Washington - Superpawn's brand had accomplished a distinguished brand.

Our technology was a great part of Superpawn’s success. We only scratched the surface of what we know is possible with system innovation. When I sold Superpawn in 2004, we retained the rights to all of the technologies we had spent 15 years and nearly 20 million dollars developing. Our technology is called PRIMA.

Today, with technologies that have proven capabilities and dependability, we have finally decided to harvest the core components of PRIMA and create a systems company for Pawnbrokers with one store or more. An Internet based system with robust components that will foster operating opportunities for Pawnbrokers that have only been dreamed of. And, some completely new ideas as well. A multitude of products all under one umbrella, tightly knitted, and fully integrated.

The team we have selected are a highly experience, exceptional programming, and system engineers, with each having over 20 years of experience in the Pawn systems industry. We welcome back Kelly and Mike. They will be contributing to this blog and we look forward to your suggestions and opinions. Our systems administrator and hardware specialist, Norm, has 25 years of experience and has been with us for 5 years.

We expect to hire 15 other specialists during this build; and we will be interested in computer programming resources throughout the project. Talented, like minded, and experienced in the pawn industry are the core requirements that we will be interested in the future for this project. Please contact us if you or someone you know would be interested?

During our first 2 months we will be collaborating, consulting, and educating ourselves. Our project calls out relationships, partnership, or alliances with these companies and government entities—Microsoft, Google, EBay, PayPal, Amazon, Apple, Western Union, Money Gram, NetSpend, ATT, T-mobile, Sprint, ATF, FBI, Homeland Security, and FTC.

Pawnshops selling online? - to much work? not anymore !

A system that completely lifts every item from your inventory to the Internet without any store effort.  This is not vaporware, this is a complete feature proven and tested throughout 50 pawnshops in 4 states - 100% less effort than EBay.  I believe that consumers can't get enough second hand products.  An alternative shopping portal for pawnbrokers to leverage their inventory for online shoppers.  This isn't a new idea, but what is new, is the way in which it could be done. 

PRIMA systematically posted every item from our inventory to our website and google everyday.  It was a phenomenal success?  We want to provide this feature to you!  This will change the way you will think of your business.  If you knew there was a easy and profitable way to take every item that came across your counter, would you?

When you write a loan/buy, the information that you collect is categorized and translated utilizing our product engine.  Every time you write a loan/buy you have completed the necessary data facts, you just didn't know that you completed the most difficult task in selling on the Internet.  We just translate that effort in a systematic way; collect additional data facts from 9 other sources and walla.  It's so cool! This becomes one of ten data sources that create our product template.  The proper product presentation for the Internet must have many required elements within the page in order to be complete.  Second hand merchandise must offer a complete description details of a pre-owned product.  You don't want customers disappointed of their purchase.

Here is the biggest secret in online pawnshop selling.  Most consumers want to purchase items from your store.  The reason they don't is 99% of the time you don't have what they want.  Its just not worth driving to your store looking for that specific item thats just not going to be for sale.  Who has time today.

Here is the second biggest secret.  If consumers knew you had the item they were looking for in your store; and it was in the vicinity of where they live, they will come to your store and purchase.  This is a reasonable purchasing effort.  In order to secure the item, customers will also pay for the item online and pickup at your store.  Wal-mart has this same feature - 2008. Think of this like a paid off lay-away.  How beautiful.  Internet purchase without shipping.  Now you don't let shipping stop you from selling on the Internet.  Consumers will drive 100's of miles for an item they know is available!  90% of these consumers have never been in a Pawnshop.  Nothing is better!  How excited am I?  Are you?
All of your inventory will be shown on the Internet, without effort, and for sale for free!  We only collect a completed transaction fee if it is purchased on our website.  These charges will be significantly less than Ebay and Amazon.  The money from the sale of your product is in your Paypal account instantly.

I have furnished these links from wayback.com.  I am experiencing a very slow connection.  This is where the 50 pawnshops that had these ecommerce services and examples of what it looked like from 2003 - 2007.

This is what Superpawn.com looked like!

Have a great day,

Hardware Options

Thumbprint scanner  this sells for 79.00.  It has been suggested that employees would scan their finger rather than utilize a personalized login.  Keep in mind you would have to add a thumb skanner to each work station.
Point of Sale scanners lots to choose from.  We have not tested these yet, but we are estimating that each of these will cost 150.00 - 200.00.  Scanning pawn tickets, sales reciepts, UPC codes most widely used for Games and DVD's, Item verification for disposition for Lay-aways, Loans, Internet item pick-up, Store to Store transfers.  Any other suggestions what scanners could be used for?
Wireless Point of Sale scanners Some of you have suggested the wireless version so that you can leave the workstation for multiple reasons.  Scan item and location assignment.  Any other suggestions how this could be used?
Signature Pads So, I am really excited what can be done with the electronic signature pads.  Federal Law acknowledges digital signatures.  This could eliminate an extra ticket and storage.  This could create signature verification, you could see the original signature and the current signature.  Every document that you are required to keep, might be digitally stored with these device, creating huge saving.  Would you spend 400-500 dollars for this device?
Monitor what size do you like?  Is there interest in touch screens.  150.00 vs 500.00.
Cash Drawer manual or electronic activated, this is the question.  75.00 vs 150.00.
Gold/Silver scale plug the scale into the workstation and eliminate having to key in the weight of the item.  400.00 per scale.  Could add accuracy and speed to the transaction.  What are you thoughts?  Is it too expensive?
Cherry Keyboard we think the mag reader-mouse pad-10 key and keyboard will meet your needs.  Mag reader is handy for ID's, Credit Cards, Debiit Cards, and Loyalty Cards.  $110.00 - $150.00 each.  What do you think?
Receipt Printers What is your favorite?  Paper costs? Do you require a printer at every work station or 1 with your sales register and 1 for your loan department?
Ring tag Printer  which ring tag printer do you use?  Which is best?  Zebra?
Printer  Lots of  printing options.  Laser or dot matrix.  Multiple trays? Are you happy with your printing cost?  It would be nice to incorporate leveraging your brand into the each printed article.  We would like to support a mass choice of style, but offer some individual personality with the printed product.  Your requirements include,  pawn ticket, buy ticket, sales receipt, report, optional FFL, lost ticket, and reports.  Can 8.5 x 11 fit your needs?.  If it can, then you can have flexibility, cost containment, and customization.
Tickets Burrell Printing Company has a great selection of choices.  We anticipate providing many printing choices.
Digital Camera I linked this to a full encompasing review of microcameras for POS.  We have cameras on our phones, laptops, and desktops, we believe it maybe an opportunity in capturing images from both sides of the monitor.  Essentially the customer and the employee in random sequence.  If it is a high value transaction it could be in video.
Camera Studio  Our Maxpawn solution minimizes the need to take pictures of product for the Internet or EBay.  But there are items of high value that require specific item images instead of stock pictures.  What camera do you like?
Star Printer TSP100 Seems to be a favorite for many Pawnbrokers.  Easy, cuts, easy to load.
Zebra LP2824 Also a favorite, Thermal for ring tags and regular merchandise.  Thanks Mike for recommendation.
ACER R1600 this compact desktop is half the size of a 1 pound box of Sees Chocolates and only $199.00.  This can accomodate 6 usb ports.

System Guarantee - Where? right here...

We believe there is a better software solution for Pawnbrokers. Well designed, simple, dependable. There are a number of Pawnbroker software products out there that are very cheap to own. We believe that in order to earn your business we need to be better and cost less.

So how do we accomplish such a bold challenge? This product will be delivered on the lightest services available through the Internet. This translates to a lower cost to deliver and we pass the savings on to you. The technologies that we want to use are ready to use and stable. James Cameron, the director of Avatar held on to his script for 5 years, until the technology was ready for him to exercise his dream. We have been waiting as well.

Our experience. Our team is of the same mindset and we believe we know what needs to be done. I am a Pawnbroker first and Software developer second. I grew up in the business working with my dad at age 9, and worked along with him to become the fourth generation pawnbroker in our family. I graduated from Arizona State University with a degree in Accounting and Information Systems. Later, I received a graduate degree from Harvard Business School. My first Pawn inventory system was created on an Apple IIe that a customer defaulted on. I hired a couple of college students who were also customers, Tom Hoops and Ed Rought, and for $200.00, we created our first inventory system.

By implementing basic inventory practices with a system that kept track of our inventory, we made record profits that year without factoring in an increase in sales. We found that internal theft was our biggest risk in running a pawnshop, and proved to have cost us 8% of our gross profits in the previous years. I will explain to you in a future blog how you are losing up to 10% margin. Many of the heartbreaking tableside discussions growing up were about dishonest employees. We started believing that after 3 generations, there were better ways to think how this business could be run.

We will share with you many more stories like this in our blog. Experience growing Superpawn over the years to 50 stores with the desire to change the face of pawnbrokering, coupled with my studies, which will make for a combination of expertise that created "best practices" in the Pawn industry.

Over the next 20 years, we would spend 20 million dollars in system research and development exclusively for Pawn. Building lengthy and meaningful relationships with the smartest technologists in the business, receiving awards and case studies from Microsoft and EBay, we just know how to do it well.

Utilizing best practices, latest technologies, and our experience, we will create "the best" products and services. We believe that this product will change the way Pawnbrokers think about this business.

We need your help! We pride ourselves in being really good listeners. We believe that we should know more. We ask you to share your stories and suggestions. Even the smallest suggestion drives progress. We will cherish every thought.

I appreciate your time and continued participation.

Great Software efficency with elegant design - geeky

Efficient software design means many things. For me, it means: effort utilizing software which creates more value than the effort invested. I like to think my time has value, and when I use a software product; its output must have a higher value. I require a return for the investment I paid for the product, but more importantly, I need a return for my effort while utilizing the product. This is not the case with many software products. Have you ever felt that it requires more work to use a computer for a task? Not only is this an important issue of your time, but for an employee’s use of time as well. Our costs go up ever year, and if we don’t utilize our employee’s efforts wisely, every day it costs us more to operate. We wanted our stores effort to be utilized and in effect re-directed to activities that had a higher value contribution. We wanted our systems to do the lifting of mundane low proposition tasks.

Our tech team’s core competency was their ability to fully understand what Pawnbrokers were asking for. "We speak your language." We have developed software for the needs of a single store, or 2 stores, and all the way up to 50 stores. We also scoped an entire system project for a national chain of pawnshops with over 800 locations. The needs and requirements for each size store group are very different. Our experience is unparallel. Our expectation, with your help, will be to deliver a simple product driven by a significant engine. Your comments, experiences, and suggestions coupled with our experience will translate into efficient code, then a feature or product.

All of today's pawn software products are very much the same, and offer very little difference. In summary, current software products distribute data, print tickets, and create reports. This is the stuff that DOS operating system made possible. Have you seen many other changes since then?

I am going to share my philosophy of good practices in facilitating pawn and sales transactions. It is not necessary to agree with my philosophy. I warn you that I am a contrarian by nature. It is intended to stimulate your thinking and discover new ways in delivering better results.

Your costs to operate a Pawnshop are very similar to any retail storefront. There are two primary transactions: pawn and sales transactions. There are costs associated in selling an item and there are different costs associated with pawning or buying an item. The most important costs are our human capital. Employees and owners facilitate these transactions.

A requirement in operating stores is to facilitate these transactions in the best way possible. Delivering good customer service is an essential ingredient in facilitating successful transactions. Avoiding mishaps translates to higher customer satisfaction. We need to be able to focus on our customers’ needs. Our software should enable you to focus on your customers. So, how do we do this?

We start by dissecting transactions and look for direct paths in accomplishing a task. We leverage every transaction. How can we take a required effort and spread that effort over other tasks? We look for relationships between transactions. We must facilitate the collection of information and we should only be asked to perform such tasks once. Avoiding mishaps translates to a higher customer satisfaction and should save you aggravation. I would like to offer an example of how this process takes form with the challenge in eliminating missing loans because of operational error.

Redeeming an item. Pawnbrokers have pawn-isms. A redemption is when a customer picks up a loan or pawn. On a side note, what is your pawn-ism for this type of transaction? We experienced that every so often we would give out the wrong item. This was one of many reasons why a loan came up missing. When we introduced bar codes and scanners with tickets and labels we saw this operating error as an opportunity to eliminate this mistake. Our mandate requires simplicity. Simplicity is only examined on what effort is being required in facilitating the process and software in the store. Our solution was creating a process utilizing a hand held scanner at the loan counter. Our system required the item(s) barcode to be scanned, (entered by keypad if not legible), before the transaction could be completed. The final receipt would not be printed, the employee and workstation unable to move from the disposition screen if this process was not followed. The scan took less than 2 seconds per item. This process reduced missing loans by 25%.

Retrieving loans quickly was one of the top 5 customer service requirements. Customers want their stuff back quickly and store operators want to spend as little time delivering those items to the customer. Losing a loan was a rare occurrence and we attributed most of these occurrences historically to theft. We were surprised that scanning loans and eliminating this mistake was such a significant element in missing loans. Any time that you can save face time explaining to a customer that their loan is missing makes for a better day.

In conclusion, we created a low effort process for the stores to perform. Once our staff was familiar with the process we measured significant increase in redemption capacity. Simply, we believe that removing the manual check was a heavier process than scanning.

The engineering and process review was quite complex and created an extra staging queue, but the simplest executables for the store employees makes for happy change and quick adoption.

Comments or suggestions?

Does your store look like shit

Most pawnshops look terrible. In fact, they look like shit. I am sorry, but many pawnshops do and yours probably doesn't, but I need to catch your attention somehow!!! So why is a guy sharing technology process, theory, and solutions getting into the way your store looks? I believe it could change this Industry. I am going to share with you my one of my secrets. This was one of the most significant changes we ever introduced to our Pawnshops.

How to wrap a cord. I spent 25 years at Superpawn teaching our employees how to wrap a cord. THIS IS NO JOKE! This is where it starts. My 9-year-old son and 2 older daughters all know how to wrap a cord. It’s really important!

Cold facts. Customers will pick up an item more frequently when the cord is wrapped. Customers not only purchase more frequently, but they pay more when the cord is wrapped.

It’s not just wrapping the cord. The cord needs to be wrapped tight. No loose ends. The cord needs to look the same way it came out of the box. In addition, all the cords in your store need to look consistent as well. One cord not wrapped really stands out. I love product merchandising. It makes a difference. So get started and wrap your cords and see and feel the difference.  Your customers will.  Let me know what you think?

How far behind the curve are you? Technology

Check out this Video - DID YOU KNOW! ON YouTube.

Pretty interesting stuff. I think it is fair to say that if you have been using the same software for the last 3 years, 5 years, 10 years or more, it's time to consider alternatives. If you are using any of the widely used products, these are 20 plus years old. I promise that as you follow along with my articles, you will be better prepared in making a choice for the future. Participating with your suggestions, you might see your ideas emerge in our new product.

My passion and love for this business is the driving force to make this industry better. When I look at the state of our economy I ask myself, "What is going to make our economy better?” I look into the mirror with a blank stare, but "Can the Pawn Industry be better? Yeah! In lots of ways." I believe that when you put your store keys into the lock of your front door each morning, you would like your operations to be better. You will find this exercise offers a wide range of ideas, "low hanging fruit," to better your operation.

You are stuck and you don't know it! It's important to have an understanding of how software is created. I will keep this simple, so don't go yet! This process begins with a base architecture (like plans of a basement for a house); asking questions become requirements of the new product. So when your current system was designed long ago, its most important requirement was to print a ticket. That was so cool then. Today all of the current Pawnshop software developed in the 70's and 80's still sits on that base architecture. Problem is, over the years, they have built 4 more stories on top of that original house. A symptom is the difficulty of these providers adding functionality. Even the simplest changes become systemic. Have you experienced this?

They have all grinded to a halt and haven't offered substantial change for the last 10 years and it's getting worse. It becomes extremely difficult and expensive to remodel and add functionality. It's not their fault; the plumbing was built for this specific house. If you watched the video, the plumbing needs to be changed.

What gets exasperated for these system companies is that the business rules change along with technology; which in turn saps all of their resources, resulting in no time for a rebuild. Unless someone comes along with a game changing invention, you will remain stuck. Why change unless it's worth it? It is the same analogy as Microsoft and Google/Internet.

We are going to offer the game changer. We have 15 engineers working on this project. Our planned launch is March of 2011. This will be our sole focus—building a base architecture for 1000's of individual pawnshops. Utilizing Cloud Computing and the Internet. We will be partnering with EBay and Amazon and many more.

Stay tuned for more details and thanks for your time.

Personal experience - 11 years old - A.T.F.

Special Agent Graf of the A.T.F. - Alcohol Tobacco and Firearms - 1969. I was 11 years old and had spent 25% of my new life working in my dad’s pawnshop. My dad loved the formidable bright yellow store-front; it resembled the "Golden Ferrari" baked yellow resin glow, thickly painted over layers of previous paint coatings. The double swinging doors were extremely heavy, but had a very welcoming feature. The store hid under the Blue Bird Motel, just west of the Silver Dollar Casino. A 21-room weekly flea bag of a place that could have been a movie set for an Alfred Hitchcock thriller. That motel just scared me. I never went up those stairs or ever noticed a single patron. Over the door breezeway was "Cameo Jewelry and Loan," proudly painted on a 4 foot half moon scalloped canopy. It was a classic city store pawnshop.

Our landlord was the famous Lincoln Fitzgerald, ole Fitz as they would say. A Nevada icon and an ex-Chicago mobster. It was rumored that he had stole money from his partners as the trusted accountant. Lincoln owned and operated the Nevada Club—it was the best place to work in Nevada. Every employee got their weekly pay in cash and a free pack of smokes. He paid for emergency medical care for all of his employees.
Lincoln had escaped an assassination drive-by shooting plot, leaving him permanently crippled after spending 6 months in the hospital surviving the shooting in 1949. His former associates, "The Purple Gang" of Chicago were never allowed back into Nevada. Lincoln would rarely be seen away from his casino. He remained a recluse living on the second floor of the Nevada Club till he died in 1981. Lincoln must have been a reliable tax payer though, the state of Nevada and Reno Police Department provided safe harbor from his foes of the Mid West.

For whatever reason, Lincoln liked my dad and referred to him as the “kid”. My dad had only met him a few times over the 20 year business relationship. But for the first 15 years he never raised his original rent from $200.00 per month including utilities. Dad prided himself maintaining the store and never bothering ole Fitz.

No heat and no bathroom. It was just my mom and dad for the first 10 years. They had stories of former employee’s but never a positive experience. My dad used to always remind me to check the chamber of a firearm. Growing up around all those guns was like a gun safety course on steroids. We used to see collections of guns from wars, trap shooters, and hunters. My dad was a city boy from the Bay Area and had no prior experience with guns. Rather he was knowledgeable in jewelry having been formerly employed at Milan’s and Crescent Jewelers in Oakland, California. One day my dad pulled out a .22 caliber semi-auto rifle from a gun case with a bullet shell stuck in the chamber, and bang, straight into the water radiator that heated the store. No more heat and he never repaired it. I couldn’t ever figure out why he never fixed that misfire. Maybe it was too expensive? Maybe he just didn't want to tell ole Fitz? Whether ego or embarrassment, it got frigging cold in that shop. It was a winter day, one where frost covered the inside of the store front windows… out came the tin snips to release a supply of hot air from the Motels heating vent. Ahhh!
Guns, guns, guns. Reno became an armory during the 60's. California residents would drive to the city to purchase a firearm without any registration requirement. Everyone sold guns. The downtown store, "Arch Drugs," had pistols behind the cashier stacked next to the prophylactics. I am not kidding. Back in those days there was no identification check, no forms, and no name on the receipt. $59 bucks for a Smith & Wesson in the box brand new, plus 2% sales tax. We sold 15 - 30 guns a day. We made a quick profit of 10 - 12 dollars a gun. My dad’s store became one of the busiest gun stores in Reno. At one time we had the most complete commemorative collections of firearms in the West. They were so beautiful in their handmade wooden presentation boxes.
It was the worst day of my mom and dad's life, but a turning point for the business. In 1968, congress passed the gun control act. The law enacted a federal system and laws to license the sellers and prohibit undesirables from purchasing a gun. Additionally, guns were only to be purchased by residents from their own state. No more gun sales to Californians from that date on. This also created a vast new federal police agency throughout the United States. Now, this law required the yellow 4473 form to be filled out by the customer before a purchase could be completed. Even at 10 years old, I could see that this effort was a complete waste of time. The form never left the store. And even today the collection of 4473 forms of every gun sold in America since 1968 is archived in the seller’s store. No one ever reviewed the transaction. How was this going to protect the public from undesirables? It was a good law passed but poor enactment and administration. At least the paperwork created by the pawn transaction was picked up by the local Police department's pawn detail. The Brady act created additional checks that each state’s regulatory agency is required to enforce and I can honestly say it is much better effort. The ATF is attempting an online registration effort, but it will take 50 years till we will see change. I hope that gun registration becomes an effective and meaningful effort—not the false sense of gun control that citizens believe the government is providing.
But in 1969, nearly a year to the day, after the gun control act was passed, Agent Graf and his newly assembled team, came to my mom and dad's small 2100 square foot store with guns a brazen, 15 agents with one thing in mind. One, to turn over every square inch of the store and two, put my mom and dad in handcuffs and drag them off to jail. The Miranda rights ring in my head from that day. I was 11 years old then, standing in shock or coma, but in total disbelief of what was taking place. My heart was pounding, my thoughts were panicked, and I tried to remain brave. Rather I gave in to my fragile emotion while making eye contact with my mom. She turned her head around with a freighted expression; one I had never seen her show. Not one word was spoken.
“Never again”—it is an expression Jewish holocaust survivors pray. As I reflect on this moment today, I realize that 25 years before my mother’s arrest, she experienced something similar to me. Her father was taken away in the same manner in Poland by the SS German storm troopers, never to see each other again.
It is still not clear in my mind, but I remember sitting alone for what seemed to be an eternity. The agents were all dressed like the "Men in Black." This was the agencies very first raid, arrest, and eventual hearing in Federal Court made under the laws of the gun control act. They were walking in circles, handling the firearms like amateurs, taking notes, auditing, and searching for any signs of deception. I could not believe my eyes of the carelessness and arrogance. No one said a word to me.

My head between my hands slumped in a chair, and I felt a soothing tap on my shoulders. It was my uncle Dennis, he grabbed my hand, picked me up and rescued me from our U.S. Governments agency A.T.F. Agent in charge Graf calculated his raid on a Friday early evening before a three-day weekend. No Judge around to set bail. As to what I was imagining, it was clear that my parents were behind bars like Mayberry RFD. To this day the three of us have never discussed that day.

Paul Bible, (the son of late distinguished U.S. Senator of Nevada, Alan Bible) one of those rare individuals that became an attorney, and a friend of the family, came to my mom and dad's aid. He found a Judge who was weekending with his family in Lake Tahoe. The judge drove back to Reno and procured my parents release by midnight. Thanks Paul from the bottom of my heart.

I have weird visual memories of that night. My uncle, grandfather, and dad gathering around our small dining room. It’s the only time that I remember all three together. They were all pawnbrokers. They were all competitors operating within a 3 block radius in Downtown Reno. Two sons and a father—the room felt worse than death. My grandfather assumed my dad was guilty, my uncle knew better, and my dad was frightened to death. This was the federal government of the U.S. vs. pawnbroker.
Another lifetime seemed to pass. 21 months consumed by court arraignments, briefs, subpoenas, meetings, the liquidation of over 1200 firearms and the suspension of licensure. The business was in shambles. Our family seemed to be in a bubble. The 27 counts were eventually reduced to 1 count. My father would never accept his personal reputation to be tarnished or his record blemished. His ethos and favorite saying is, "my word is his bond." It was later found that Agent Graf had used entrapment and false charges. In exchange to end this fiasco and to save face for the A.T.F. inaugural case, my father’s corporation accepted the plea and agreed not to sell firearms. Ten years later (I was 22), after joining my father’s business, one of my first personal assignments was accomplished. I had my father’s license reinstated and the corporation’s conviction expunged. The Director of the San Francisco A.T.F. office, Michael Bodisco, assisted me in exonerating my father.
A silver lining surrounds this experience, and in fact the gold and diamond business. One they never knew existed! During those 21 months, the revenues of the business had been slashed. Guns were 80 percent of the business. The liquidation of the inventory had to be used for operating expenses and legal costs. The remaining few bucks were used to purchase jewelry inventory. Reno had become a pretty good tourist destination and tourists loved to shop in pawnshops. The Jewelry business became mom and dad's newfound category and a trajectory to success.
It's up to you but the game business is a great traffic builder and will be around for a long time because the vintage gamers like the old consoles and these games will not be downloadable. Zero Wing (Sega Genesis, 1991)  $99 at Half.com.  Even the average condition cartridge will bring $20.00 and is worth a $5.00 - $10.00 loan.  You may not be old enough to be familiar with these names below, but these are all of the platforms of game systems over the last 30 years and continue to be valuable.

In order to fully execute this idea your system needs to handle all of the lifting into the eCommerce space because the average sales price of the items are 10 - 20 bucks  and you only can afford to put the item into a envelope without any other effort.  These items need to on the web because this is not a main stream product and you can't  count on walk in business, but this business rocks when customers can see items on the web.  Shoppers don't have time to drive to your store to shop for a $20 dollar item, but they will drive to purchase if they can browse online and see the item is in your store.  Make sense?  Our system will also enable the customer to purchase the item online to secure the purchase, and then pick up the item in your store.  This was an extraordinary discovery that we experiecned and we believe is a game changing  platform for pawnshops.  Bravo will do this. This can also be done with VHS and Video Movies, you will see this market on Half.com.

Important tip.  This is a fabulous market if you have time in your store.  It would be like a super GameStop.   GameStop stores has a similar system like PRIMA.  They take items from customers, second hand, and resell them online or in their store.  They do not handle vintage games and this is the opportunity. This can be done without our system but requires a lot of time to do well.  Here is how it works with BRAVO.

BRAVO will have every SKU in the system, so when a customer comes in your store with a number (up 250) of games you would scan the game.  The system would locate the item record and give you an estimate to loan or buy. This is Bravo's estimator. From the same screen you will be able to quick search EBay or Half to verify value.  At this time you decide what to loan or buy.  This empowers you with additional information to make a better choice. How much would you lend on this Super Mario game?  This is a important decision if you want to build a game business, my experience suggests you have to offer fair value and not the customary $1.00 or .50 cent rule.  The gamers that have these vintage games would love to be able pawn their games, but no one gives fair value!  The redemption rate is similar to guitars.  Tip - shrink wrap these games while they are in pawn.

What is beautiful about this opportunity is with Bravo, you will have every game in your store for sale on the web.  These gamers research and find these games from all over the world and even if they live around the corner from your store.  Shipping is a snap with Media mail by USPS.   MaxPawn.com will have every game listed by condition.   And of course if you want to sell these games on EBay you can do so with our integrated EBay Blackthorne autolister.  Get ready for an exciting new business opportunity.
  • Classic Console Games
  • Macintosh Games
  • Neo Geo
  • Nintendo 64
  • Nintendo DS 
  • Nintendo Game Boy   
  • Nintendo Game Boy Advance
  • Nintendo Game Boy Color
  • Nintendo GameCube
  • Nintendo Super Nintendo
  • Nintendo Wii
  • PC Games
  • Sega CD
  • Sega Dreamcast
  • Sega Game Gear
  • Sega Genesis
  • Sega Saturn
  • Sony PlayStation
  • Sony PlayStation  2
  • Sony PlayStation  3
  • Sony PSP
  • Xbox
  • Xbox 360  
These are the categories that are very valuable to resell.  Check out Half.com for current selling values?  The vintage game console resell market is very soft; the collectability is in the game cartridges.  I suggest that you have 2 of each vintage console models in your store for sale at a very low price.

Steve Mack

March 1, 2010 -  I have to add that a Nintendo game just sold this week for $41,300.00.  This is to illustrate the hidden values of games,  knowing when something crosses your counter can be a game changing event, keep your eyes peeled.  Read this article.


Getting a full return on your gold refining. Checks and Balance

I don’t know about you, but when I sent out my gold to the refiners, it never seemed right. With my suggestions you should earn an extra 5% of gross profit. In my 25 years as a pawnbroker, the number one focus on operations was having honesty and integrity within my ranks, including your vendors. You must create a log of the results from the refiners you utilize. You will see comparative results. It's that accounting, bean- counting stuff I learned. And let me tell you, those refiners have the same issues with employees stealing as we have, except the refiners loss is your loss. Their employees steal from the gold batch before it is refined. So it is very difficult for you to know where the slippage comes from. And who believes that refiners are 100% honest. And even if we are giving them the benefit of the doubt, how competent are they? So there are three factors in the refining process that you must rely on.

1. Refineries employees being honest
2. Refineries themselves being honest.
3. These companies are competent and accurate.

There is a very simple process to follow, and as I like to say, "You will only know, when you know". Here is my recommended scrapping process. Start out with 5 coffee cans.

1.   Can1 - 10k and below

2.   Can2 - 14k

3.   Can3 - 18k

4.   Can4 - 20k - 24k

5.   Can5 - misc gold items with stones. (Diamonds that can't be removed with a simple prong pry, it should be soaked.)

What is a soak? - From Can5 stone removal lot is placed in an individual chemical reactor. A technician will monitor each reaction as your gold, platinum or palladium and any remaining residue is dissolved leaving your stones clean and ready for sorting. It's best to accumulate a good size batch for this type of stone removal because they usually charge an additional $250.00 per batch. This can be negotiated.

As you are processing your defaulted loans, the items that you wish to scrap, put the items in a marked can separated by karat. Look at the stamp mark, no need to gold test. And for items without marks, either guess or test utilizing an analyzer or acid test.

Keep your envelopes so that you can tally the amount of weight and amount as an audit trail if needed. If you have other people doing this routine, I recommend adding the weights marked on each envelope and compare to what you actually sent out.

Whatever timing you prefer (to send out the material) is your call. Ready for the next step?

I first suggest that you select 2 independent refining companies. Then you take each can and split into equal parts. Take a plastic baggy and mark the bag with the karat and weight. You should have either 8 or 10 bags depending if you are sending out a soak. You will send out a batch (containing 10k, 14k, 18k, 20-24k, and soak if included) to each vendor. Write down the carat category and all of the weights of each bag and totals. Indicate in the instructions, " if there is a discrepancy” to contact you. Specifically, indicate that you want to be paid for silver, platinum, and palladium. Otherwise, they keep what you don't ask for? That took me years to figure out.

After you receive the check and specific results, you should have a better idea how different the results can be. Given the type of materials we accept in our trade, there can be a legitimate margin for error. My experience over the year’s showed consistent and similar results when I was dealing with top refiners. Request a new assay if the results don't make sense. There are not supposed to sell your lot until you approve the payment. Separate your scrap batches every time and use 2 vendors. Try new vendors every 6 months and don't get comfortable.

From Hoover and Strong - suggested this check list for optimization.

•Anything used in precious metal manufacturing should be turned in for refining with sweeps in a container. This includes store buffs, brushes, emery paper, etc.

•Include name, address and instructions.

•Include the weight of the scrap.

•State Assay Instructions (i.e. Assay for Silver, Gold, Platinum, and Palladium)

•Separate metals, not karats.

•Separating your scrap increases your bottom line by minimizing your refining charges.

•Separate magnetic from non-magnetic material.

•Treat it like the rest of your inventory; turn it at least twice a year.

•Know the basics of refining.

•Track the scrap in your shop.

•Promote the fact that you buy scrap.

•Send your scrap to a reputable refiner, not a middleman.

How to weigh gold

When I was in the business 5 years ago, gold was $350.00 - $390.00 per ounce. I am so pleased at the raise from the days when it was swinging around $250.00. All I can say about today's price is WOW; it's just hard to believe what that raw material is worth. And the way the economy is today, the price of gold is going to stay high for long while. This topic is magnified--what I am going to share with you today is 5 times more important than what we discovered in 2002.

The stones in a jewelry setting weigh something. A carat is a weight just like ounces. We shouldn't be adding in the stone weight when we are loaning or buying on an item. If we are estimating correctly, we should be evaluating the stones as well. If it is a diamond or a precious stone there is a higher level of expertise needed just for those stones. If it is a semi-precious, simulant, or imitation stone, the value of the gem is worth very little to zero; however, the weight of the stone needs to be subtracted from the weight of the item. Our experience dictated about 3 to 4 percent of miscalculated weight. That can add up at year end; especially taking into account the worth of gold today.

When we developed PRIMA we built a grid with the specific weights of each stone class and category. Size and type of stone weigh differently. As we entered a jewelry item into the system, the loan estimator subtracted the weight of the stones from the gold. Bravo will also have this function.

This can be done manually, but it is very time consuming. The weights of the stones can be found on the Internet.

You will find in my articles a common theme of hidden and small treasures. Little saving here and there, but come June 10th 2011 at the NPA come see Bravo, it amounts to real money savings. I appreciate your following my blog.