A Question For Those That Work In A Gun Shop/Pawn Shop

Joe_Pike · October 30, 2013, 07:09 PM

I currently work in sales for a small retailer that is having massive money problems and because of this my income has dropped about 30% over the last couple of years. I'm no Spring chicken (53), so, in today's job market there are not a lot of options. One of fhe shops that I used to buy a bunch of firearms from is needing a couple of people since they are opening a new shop and after talking fo them I think I have a good shot at one of the positions. It pays roughly about the same as I make now, so, no where near what I used to make. The difference is I think this place will stay around.

Now, my quetion is this: Does the gun shop part of the business make up for having to fool with the pawn shop side of the business for those of you that work in a gun shop/pawn shop? I obviously like guns, so, that part of the business draws me.

RodTheWrench · October 30, 2013, 07:31 PM

The local pawn shop in my town makes the most money from Gold, then guns, electronics,tools, then all of the other crap. Guns are the fastest movers out of all pawned items.

I mean, ANY business that gives you 1/4 of what the item is worth will make money as long as they have time to sit on it for a while and they have traffic.

The downside is dealing with all of the losers. The owner of the PS here told me "I'd just rather have them tell me they need the money for drugs, instead of wasting my time for 10 minutes with a sob story about losing their job, etc."

Hiker 1 · October 30, 2013, 11:27 PM

I worked in a pawn shop many years ago and Rod is right. The shop makes most of their profit from jewelry.

There is a seedy element, but if the shop is run right (clean, good merchandise, etc) the owners can minimize some of that. There are also plenty of normal people looking for good deals or just needing a few bucks.

I was the "gun guy" at the place I worked in and I sold a lot of guns but I learned a lot of other interesting things too. There were also some excellent guns that came through the place.

Like Pawn Stars, you never know what's going to come in the door.

Double Naught Spy · October 31, 2013, 06:44 AM

We had 4 pawn shops. The biggest profit in guns was NOT sales, but in loan redemptions. We tended to loan high on guns which meant the few that came out of pawn and went for sale usually had much smaller profit margins than other merchandise such as noted above (jewelry, tools, electronics).

Compared to other items, the time in processing guns was several times longer, be they loans, redemptions, or sales. For us, the main reason for doing guns was because they were a draw to bring in customers, not because guns themselves were that good for overall profit, though with loans, they were a consistent form of profit as we tended to have a higher rate of redemption on guns than other items.

October 30, 2013, 07:09 PM	#1
Joe_Pike Senior Member Join Date: December 30, 2010 Posts: 1,581	A Question For Those That Work In A Gun Shop/Pawn Shop I currently work in sales for a small retailer that is having massive money problems and because of this my income has dropped about 30% over the last couple of years. I'm no Spring chicken (53), so, in today's job market there are not a lot of options. One of fhe shops that I used to buy a bunch of firearms from is needing a couple of people since they are opening a new shop and after talking fo them I think I have a good shot at one of the positions. It pays roughly about the same as I make now, so, no where near what I used to make. The difference is I think this place will stay around. Now, my quetion is this: Does the gun shop part of the business make up for having to fool with the pawn shop side of the business for those of you that work in a gun shop/pawn shop? I obviously like guns, so, that part of the business draws me. __________________ Stay Groovy

October 30, 2013, 07:31 PM	#2
RodTheWrench Senior Member Join Date: April 24, 2013 Location: Utah Posts: 365	The local pawn shop in my town makes the most money from Gold, then guns, electronics,tools, then all of the other crap. Guns are the fastest movers out of all pawned items. I mean, ANY business that gives you 1/4 of what the item is worth will make money as long as they have time to sit on it for a while and they have traffic. The downside is dealing with all of the losers. The owner of the PS here told me "I'd just rather have them tell me they need the money for drugs, instead of wasting my time for 10 minutes with a sob story about losing their job, etc." __________________ "Hokey religions and ancient weapons are no match for a good blaster at your side, kid." - Han Solo

October 31, 2013, 06:44 AM	#4
Double Naught Spy Senior Member Join Date: January 8, 2001 Location: Forestburg, Montague Cnty, TX Posts: 12,717	We had 4 pawn shops. The biggest profit in guns was NOT sales, but in loan redemptions. We tended to loan high on guns which meant the few that came out of pawn and went for sale usually had much smaller profit margins than other merchandise such as noted above (jewelry, tools, electronics). Compared to other items, the time in processing guns was several times longer, be they loans, redemptions, or sales. For us, the main reason for doing guns was because they were a draw to bring in customers, not because guns themselves were that good for overall profit, though with loans, they were a consistent form of profit as we tended to have a higher rate of redemption on guns than other items. __________________ "If you look through your scope and see your shoe, aim higher." -- said to me by my 11 year old daughter before going out for hogs 8/13/2011 My Hunting Videos https://www.youtube.com/user/HornHillRange

October 30, 2013, 11:27 PM	#3
Hiker 1 Senior Member Join Date: January 7, 2011 Location: Colorado Posts: 596	I worked in a pawn shop many years ago and Rod is right. The shop makes most of their profit from jewelry. There is a seedy element, but if the shop is run right (clean, good merchandise, etc) the owners can minimize some of that. There are also plenty of normal people looking for good deals or just needing a few bucks. I was the "gun guy" at the place I worked in and I sold a lot of guns but I learned a lot of other interesting things too. There were also some excellent guns that came through the place. Like Pawn Stars, you never know what's going to come in the door.