February 24, 2020 - Pawn Resources
Located in Mesa, the third-largest city in Arizona, Gold Pawn Brokers has become familiar with a large and diverse consumer base; which includes middle-class families and small business owners. They can offer cash loans as low as $20 and larger loans worth tens of thousands of dollars.
“In the city of Mesa it’s pretty populated,” said Lenny Mormino, the owner at Gold Pawn Brokers. “We’re on Main Street, which is kinda just out of downtown, so we get lots of traffic through here.”
By “downtown” Mormino is referring to Downtown Mesa, which has an abode of attractions and businesses for adults and families.
Gold Pawn Broker’s is a family owned business and strives to stand out amongst the corporate owned pawn shops. They will accept almost any new or used merchandise – and at lower interest rates. If you want to pawn electronics, like a personal computer, game console, TV, or audio/video equipment you’ve come to the right place. They also take high-value items, such as gold or silver jewelry and offer top dollar.
“There’s tons of competition, especially nowadays with corporate pawn shops around,” Mormino said. “But we’re a family owned pawn shop, who’s been here a long time, and we have our little niche in the deal.”
Mormino says his shop relies on a lot of word of mouth, for example, they’re known to have the largest collection of used guns in town. In Mesa, residents will also find guitars, electronics and tools at bargain prices, but Gold Pawn Broker’s is mostly known for their awesome gun collection.
“We pride ourselves on being the fairest pawn shop in town, we figure out what your stuff is worth, and we give you a fair loan based on that,” Mormino said.
According to Mormino, it’s of paramount importance to establish trust with each customer. It’s possible if you don’t know what your item is worth you’ll run the risk of pawning your item for less money that you need. Same goes by customers who are familiar since you never know what their last impression was.
“We’re going to be fair with you either way. Whether you’ve done it a million times or just one time we’re going to find out what it’s worth a give you a fair price.” Mormino said. “We don’t try to take advantage of anybody. We are very fair as far as redemptions if your a day or week late, and you give us a call and tell us what’s up we’ll work with you.”
Typically, 30 days is the standard length of time before payment is due on a loan. Meaning, by day 31 it’s technically the shop’s property, but a Top Pawn Shop will be flexible. As Mormino puts it, “I’d rather make less on it one time, and keep you coming back, and tell your friends about us.” In other words, if you want more repeat business than don’t burn bridges.
1) The cleaner and better your item looks the more money you’ll get. Nobody likes a mess, plus it shows a pawnbroker!
2) Include all the parts and accessories that originally came with your item. If you want to pawn your TV don’t forget the remote!
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