February 09, 2020 - Pawn Resources
Today he works as a manager in the shop together with his mother Kim.
“We had many people coming in and asking us for (pawn) loans,” Lambros said. “We figured, why not get our pawn license so that we could have more customers and help people who are in a tough spot.”
“We like to buy better quality items and sell them at a very reasonable price.”
In Lambros previous cash for gold business, they helped customers get the best value for their gold. For this reason, many of the customers from the previous business quickly became customers of their new pawn shop.
Lambros shop focuses on used merchandise that are in good working condition, not harshly damaged or unclean.
“We are a little more conservative on what we purchase and what we sell,” Lambros said. “I know other pawn shops buy items that many people would not buy, and they try to charge a lot for it. We like to buy better quality items and sell them at a very reasonable price.”
For individuals looking to pawn an item for the first time, Lambros tries to ensure that they don’t get worried, especially with false fears.
“People think it’s super high interest, or that you get charged every week,” Lambros said. “We do everything by state law. It is only 3% so it’s not a huge deal.”
When is it comes to PawnGuru Lambros enjoys not knowing what will pop-up on the pawn shop portal. He says in many ways it acts as a second door to the shop.
To avoid the risk of losing items on collateral loans, Lansdale Pawn Shop does go out of their way in order to help customers look for alternatives. For example, they may advise certain customers to bring in their old or broken jewelry that they stopped wearing.
Lansdale Pawn gives a few hundred dollars per pawn loan on average, but will accommodate individuals in need of smaller cash loans as low as $20.
“There have been situations where someone seems like a good person that’s just having a rough time or needs money for gas,” Lambros said. “We’ve helped out to the point that we just gave them $20.”
Since the Lambros opened there pawn shop in Lansdale, they’ve seen a variety of unique items come through their shop door. For example, Lambros remembers when they got hold of some of the original artwork by the classic American cartoonists Elzie Crisler Segar (1894-1938), creator of Popeye the Sailor.
“We have helped many people prevent their electricity from shutting off during the winter,” Lambros said.
When it comes to PawnGuru Lambros enjoys not knowing what will pop-up on the pawn shop portal. He says in many ways it acts as a second door to the shop.
“When you login, a customer could have something unique that you want,” Lambros said. “It is convenient and exciting because every time you login it’s different.”
For Lambros, being a pawnbroker is a fun job because of the many new people he gets to meet each day. However, what he enjoys even more is the opportunity to help individuals that might be having a financial struggle.
“We have helped many people by preventing their electricity from shutting off during the winter,” Lambros said.
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles