Pawn Shop For Sale - Santa Cruz, California
Ad/Listing Information
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| Status: |
Off The Market |
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| Location: |
Santa Cruz |
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| County: |
Santa Cruz |
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| City: |
Santa Cruz |
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| Financial Information |
Detailed Information |
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| Price: |
$240,000 |
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| Down: |
$100,000 |
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| Revenue: |
$240,000 |
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| Adj. Net: |
Call |
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| Relocatable: |
No |
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| Home Based: |
No |
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| Real Estate Included: |
No |
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| Bkr To Bkr Coop: |
Yes |
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| Franchise: |
No |
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| For Sale By Owner: |
Yes |
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| Asset Sale: |
No |
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| Lifestyle: |
No |
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Description Of This Santa Cruz Pawn Shop Business For Sale:
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WANT TO BE A PAWN STAR?
Selling my 12 years in business Pawn Shop. This is an
excellent business to be in during these tough economic times.
It is in a prime location, only pawn shop in the area
and the loan base is growing monthly. Gold buys are
out of sight and along with the retail business there
is a watch, clock and jewelry repair business. That
makes 4 sources of revenue in one store.
The pawn shop activities which are the back bone of
the business has a leading edge software system to manage
the loans. A Pawn shop is regulated by the State of California
which makes it a straight forward business to run.
You have a set of rules/laws to follow and are required to
qualify for a state license, background check and be bondable.
I am retiring, however part of the sale is to train the new owners.
If you are not familiar with a pawn shops services, here is what
a daily routine is like in this store.
There are several types of customers that come to this store.
The primary customer is looking for a loan or has something to sell.
We mainly deal in jewelry but not exclusively. A price is set
based on the value to us of the piece and the customer has the
option of a 4 month loan, where the terms of the loan are preset by
the State of California, or just outright selling the item.
In all/most cases this is a pretty safe transaction for the store,
because the amount given is generally lower than what the item could
be scraped for. That is not just the way this pawn shop operates,
it is the norm for most pawn shops. Items that are purchased or
items that have a loan default can then be sold through the retail
portion of the store. Due to the cost paid when the item came in,
the margins are very profitable. Items that do not sell within a
reasonable time are then scraped which always turns a nice profit.
This is especially true now with continuing run up of gold.
The secondary set of customers that use this store are for the
repair services we provide. Watch, clock and jewelry repair.
I happen to be a watchmaker and do all of the watch repair,
however, a subcontracting process could be set up for that
which is exactly how we handle the clock and jewelry repairs.
There is one exception and that is the very profitable watch
battery and band service which is a daily activity. The new
owners should learn this process. With the right training
that I will provide it is not difficult.
The repair services provide a steady revenue stream as there
are many people repairing as opposed to buying new.
The final revenue steam is the retail sales. Because of the diversity
in the items we buy/loan defaults and because of the price we
paid our retail has exceptional value. If you can find what you want
in this store you can\'t beat the price anywhere. This is especially
true with gold jewelry.
The store is probably the nicest pawn shop you will ever see.
It is located in a very well kept old building in the heart of down town.
All of the show cases and furnishings are antique and has the
look and feel of stepping back in time. There is not a day that
goes by that someone doesn\'t say this is the \"coolest store\"
I have been in. It has a very good with qualifying assumable lease
as well as the store being well know with a great reputation through
out the town.
If you are honest and willing to work hard, there is no question
you can make a go of it.
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