Re: Pawn Shops. Are they +EV?
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I have been considering opening a pawn shop/pay day loan service for quite some time. It seems to me that this is purely a profit based business. Anyone have an input? Am I being overly optimistic of this type of business?
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I don't have any direct experience, but I know two guys that each have multiple pawn shops. One guy makes a decent living off his 3 locations, but hates the work and the people, and wants to get out of the business. The other guy has 5 locations, is a millionaire because of those locations, and has managers run all the stores. IMO, a pawn shop is the kind of business that I would consider if the right opportunity came along.
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