member news
Close Down the Store
We’re headed to Vegas for Pawn Expo!
Would it ever occur to you that closing your store for a week could improve your business? One NPA pawnbroker member does just that because of the value he gets from Pawn Expo. Scott Amberg of EZ Cash of Panama City, FL, has been a pawnbroker since 1988 and in his current store since 1998. He worked for a year with his father in the pawn industry on the Southside of Chicago. “And trust me. It takes a full year to learn about pawnbroking. You can’t just walk into it and get a five minute orientation and go to it. You need months and months of hands on experience,” he said. Later, Scott put together a business plan, and he and his brother, Lee Amberg, opened their first store on Memorial Day, 1988 in Evanston, IL. In 1995, Lee was in Florida and visited a pawn store. After talking with the owner, he asked if the store was for sale. The owner said yes and they opened their second store in Panama City, FL. In 1998, Lee proposed that he and Scott switch stores. Scott was ready to get to a warmer climate and agreed. National Pawnbroker magazine talked to Scott about his Pawn Expo experiences.
National Pawnbroker (NP): Why on earth would you close your store? Scott Amberg (SA): Pawn Expo is the one event annually that has the biggest draw for pawnbrokers and vendors from across the country. With only 12 pawn stores in my county, Pawn Expo opens up a larger venue for me to learn more and get ideas from other pawnbrokers. NP: What is your favorite seminar? SA: It is hard to say. Every year there are new seminars. In addition, it depends on where we were positioned as a business at that time. One seminar
for Pawn Expo
would stand out one year and another seminar would fit my needs the next year. I am always interested in information on diamonds and diamond enhancements because I have GIA certification, and any session that allows you to visit one-on-one with other pawnbrokers is invaluable. Networking is a key value of my NPA membership, both at Pawn Expo and on the Member Forum NP: How is it that you can close up shop for a week? SA: I can’t just walk away from it and say, “I’m closing my business for a week.” I’m the only employee, and I need to take steps to ensure that the right people know what’s going on. Here is some advice for other small shops: Notify your customers: Make your customers aware that you will be closed and of the ramifications on payments and redemptions that come due during that time period. I prepare a notice that is attached to every pawn (Continues on page 52)
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