“…not a museum, it’s a pawn shop”
December 29, 2009 | Florida, alternatives, industry | Comments (0)From the local Ocala, FL paper:
The recession has hit Marion County’s pawn businesses the same as most other industries. Porter’s profits have been down 15 percent to 20 percent since the recession began.
“People walk up to me all the time and say, ‘You’re in the pawn business, it must be booming,’ ” he said. “I think they don’t understand the pawn business.”
To keep the business afloat, Porter said he must be more selective as to what he buys for resale or what he’ll make loans on.
“Average doesn’t sell that well lately,” he said. Just as some people need money and are more likely to pawn items, potential customers are feeling the financial pinch themselves and are less likely to buy.
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