Simple Management Group- Newsletter August 2023

A Message from the President A Message from the President Expect Healthy Turnover - But Fight Unhealthy Turnover

Healthy turnover happens when an employee needs to pursue a new future in order to use his or her talent and strength in a fresh venue Some turnover is inevitable We will lose great team members because of life situations outside of our control, or even the employee's control Unhealthy turn-over, on the other hand, must be avoided. The cost of unhealthy turnover directly affects profitability and indirectly affects every item on the income statement.

Studies show, that companies with the highest retention rates also earn the best profits. Turnover is, therefore, one of our leading indicators of profitability Our leadership team's monthly review of turnover helps us catch trends in both healthy and unhealthy turnover We work to get beneath the numbers to the real story of what is happening This assessment provides us an early warning system about sustainable real profits. If a manager is having turnover problems with sales associates, then that manager's hiring practices and procedures may need a refresher, or perhaps supplemental assistance from the training department in order to remedy this negative pattern.

There is a direct correlation between store manager continuity and profitability. Continuity pays off big time Continuity meaning the same manager at the same location over time Managers tend to sink their roots in their neighborhood store much like any small business owner would do. Their customers can count on them being in the same store day after day. Continuity is a fancy way of saying that relationships, trust, history, and experience matter immensely in the human psyche - and for profitability.

I find it perplexing that so many retailers and companies feel compelled to use what they call "management rotation " This so-called best practice rotates store managers under the guise of keeping them fresh through cross-training; if you want to keep them fresh, then don't give them boring work! Managers need to provide them with the opportunity to cultivate depth of experience and a sense of ownership. Let's say two seasoned managers are producing more than a half a million in store profits each year, and then we switch the managers. We could expect that both stores might fall to first-year profit levels, or about half their prior-year productivity Why? Because while each manager has all the same knowledge, they do not have the team relationships in their new store, each is in a rebuilding mode In time, these managers will very likely build both stores back to championship status again, but why start all over again? Changing out talented managers is a rare happening at our company Now you know why it is very expensive to lose momentum and performance.

The loss of productive team members for reasons within our control is tragic. We hire people for a lifetime and make significant up-front investment in their training and development Turnover cuts short the return on investment

Daily Report Training Video

Link to video: https://vimeo.com/844589905

Password: Simple

Have you checked out the new training video that Daniel Holman and Eric DeAnda created for stores to get a good handle on the Weekly Update Reports? This video walks you through each report to understand how they work.

Christmas in July

Layaway Contest Results

As a company we have generated over $2.33M in new layaways during the month of July and grew our layaway balance by 9%! Great job by all and congrats to all our winners!

Caribbean generated $655K in new layaways.

HOW TO USE THE WEEKLY UPDATE REPORTS?

The weekly rollout is the same reports created by Eric DeAnda but with some add-ins.

1) Instead of an Excel spreadsheet for each report, all reports are housed in one spreadsheet

2) The spreadsheets now, for the most part, do not hold one month of data They hold data from the YTD standpoint

3) The reports now incorporate filters that help you move around in the data to look at previous months, %, or help drill down to the data further.

Florida generated $1.22M in new layaways.

Puerto Rico generated $460K in new layaways.

Group 1:

Kissimmee 6 $800 winner

Dominica $600 winner

Bahamas 2 $500 winner

Group 2:

Haines City 2 $800 winner

Tampa 5 $600 winner

Orlando 5 $500 winner

Group 3:

San Juan1 $800 winner

Orlando 4 $600 winner

Tampa 4 $500 winner

Group 4:

Guayama 1 $800 winner

Aguadilla 1 $600 winner

Carolina 2 $500 winner

Jewelry Training : How to Use the Loup

1. Hold the loupe close to your eye. The loupe needs to be 1 inch (2 5cm) away from your eye for it to focus at 10x magnification

2. Keep both eyes open. You can focus much better with both eyes open; closing an eye strains your eye muscles and will result in not being able to see details Keeping both eyes open is also important for loss prevention. Closing one eye leaves you vulnerable.

3. Hold the item close to the loupe. Keep the loupe near your eye and move the item close to the loupe until the item is in focus.

4. Brace the hand holding the loupe. Make sure your hands are touching each other to provide stability and avoid shaking, which will keep the item in focus.

5. Keep your head up.

Face forward and don’t bend your head over. Keeping your head up will allow light to enter the item so you can see more details; bending over blocks light and makes it harder to see.

AUGUST BIRTHSTONES

Spinel, Peridot, Sardonyx

Ring in $55,304 in Jewelry Sales for July!!

Jewelry Home Run Spotlight

Congratulations to TEAM ORLANDO 5 $8,844 diamond sale with $7,044 Net Profit!

Congratulations to Eric DeAnda Market with $11,000 in melee sales; which is an average of $2,200 Profit per store!

The name “Spinel” comes from the Latin word spina, which means thorn, in reference to the shape of spinel crystals This second August birthstone comes in a variety of colors: intense red, vibrant pink, orange, purple, violet, blue and bluish green. For centuries, spinel was mistaken for other gemstones. Some of history’s most famous “rubies” have turned out to be this August birthstone. The approximately 170ct Black Prince’s “ruby,” for example, was owned by a succession of Moorish and Spanish kings before Edward, Prince of Wales received the stone in 1367 as payment for winning a battle.

Peridot is the yellowish green variety of the mineral olivine. The word “peridot” comes from the Arabic faridat, meaning gem. It appeared in priests’ jewelry as early as the second century BC and later in the chalices and churches of medieval Europe. Throughout history, peridot has often been confused with other gems such as topaz and emerald. The Shrine of the Three Holy Kings in Germany’s Cologne Cathedral is decorated with 200 carats of gems that were believed to be emeralds but are, in fact, peridot. Some historians even speculate that Cleopatra’s famous emerald collection may have been comprised of peridot.

Sardonyx is the most ancient of the August birthstones and is a combination of two types of chalcedony: sard and onyx. Bands of brownish red to brown to dark orange sard alternate with typically white or black layers of onyx. In ancient times, sardonyx was a popular stone for Roman seals and signet rings, as hot wax would not stick to it. Sardonyx is believed to be one of the stones in the High Priest’s breastplate, as referred to in the Old Testament, and represents the strength of spiritual life Roman soldiers wore sardonyx rings with the image of Mars carved on them for protection in battle Today, this August birthstone is associated with courage, happiness and clear communication, bringing stability to marriage and partnerships

Management Camp is coming to Kingston, Jamaica in August!

Kingston 1

Shakira Scott (Lead SA)

Andrine Brown (Assistant Manager)

Kingston 2

Nyoka Blake (Store Manager)

Portmore

Kamel Whyte (Store Manager)

Christina Plummer

Montego Bay

Jhonell Jennings

May Pen

Georgia Graham (Assistant Manager)

Shavet Stone (Lead SA)

Mandeville

Aldronie Desdunes (Assistant Manager)

Ramsey - Smart Dollar - Financial Wellness Program

We have completed our first Ramsey – Smart Dollar Program and it was a success! We are ready to schedule next round of this 3-day, course. This program is a great way to learn how to budget your money and make your money work for you.

This is a FREE course to our team members, and you will be paid for the time you attend The goal of this program is to teach our team members budgeting techniques and how to reach your long-term financial goals.

The dates for the course are August 23 and Sept 19 & 21. Each day is 8 hours and will be held at Orlando 1 store.

If you are interested, please respond to smartdollar@smg.inc to sign up.

PROMOTIONS

Jose Hernandez

Area Manager, Puerto Rico Region

Alexsandra Aquino

CI Training Manager

Mike Barnette

Store Manger, Kissimmee 5, Florida

Paul Padilla Soto

Store Manager,Bayamon 2, Puerto Rico

Jean Carmona

Manager Trainee, Guaynabo 1, Puerto Rico

Samira Fraiha

Assistant Manager, Orlando 2, Florida

Tashara Pilgrim

Store Manager, Oistins, Barbados

Saidah Thorpe Assistant Manager, Oistins, Barbados

Madeline Burgos Vazquez

Assistant Manger, Carolina 1, Puerto Rico

Christopher Velez

Assistant Manager, Bayamon 2, Puerto Rico

We are excited to welcome our new team members!

Coralis Barbosa Bayamon 2, Puerto Rico

Julie Capron Freeport, Bahamas

Sherley Clermont Manatee 1, Florida

Raynard Edgecombe Nassau, Bahamas

Ostra Griffith Grenada

Pagan Edasha Quinones Fajardo 1, Puerto Rico

Ana Figueroa Martinez Guaynabo 1, Puerto Rico

Jasper Hatch Haines City, Florida

Danielle Lloyd Bridgetown, Barbados

Jose Lovens-Suprnvil Turks & Caicos, Uptown

Rashida Mayers Oistins, Barbados

Claudia Olano Roo Orlando 4, Florida

Adorno Orlando Manati 1, Puerto Rico

Christian Otero Ojeda Caguas 1, Puerto Rico

Chantrelle Rawls Volusia 2, Florida

Edwin Rodriguez Kissimmee 8, Florida

Naftali Rodriguez Guaynabo 2, Puerto Rico

Joshua Salgado Maysonet Manati 1, Puerto Rico

Bryce Sapp Orlando 9, Florida

Franuet Taveras Tampa 1, Florida

Oshane Tomlinson May Pen, Jamaica

Luis Rodriguez Vasquez Orlando 5, Florida

Webinar Training Schedule

August 7 - Google reviews

August 14 - Gold Testing

August 21 - Upselling

August 28 - Social Media

Jewelry Sales Tip

Jewelry Training was held in Montego Bay, Jamaica!

Never let price be the last thing you say. Why? Because you’re selling an experience more than a product.

Jewelry is an emotional purchase usually tied to an event or occasion. When you end on price, the customer will focus on the product and the price and will go price shopping at a competitor.

When you focus on the experience and the occasion, the customer gets emotionally involved and is more likely to buy or layaway now

How? Say things like this:

This engagement ring is only $499, what do you think her friends will say when they see it?!

This anniversary band is just $299 and has a 1/2ct of diamonds; what do you think about the style?

This diamond and green stone ring is a great value at $249 and green is the color of the August birthstone, don’t you think it will make a perfect Birthday gift?!

Don’t push price – push the occasion and create a fun shopping experience!

Greg's Jewelry Training Schedule

August 7th SMART Camp & Kingston area training

August 14th TP/HC/MT @Auburndale

August 21st OR/KM/St Cloud/NSB/VS @OR1

Kimberly Headlam, Greg Weiss, Jhonell Jennings and Bernard Cooper

Olando Robin, Saneka Duncan, Greg Weiss, Yanique Spencer and Kevor Burton

The Salvation Army Red Kettle Red Kettle Season Starts in November!

November 27 - December 24, 2023

Mark your calendars! The Red Kettle Kick-Off is on November 2, 2023. We will be having a kick-off meeting with Captain Ken Chapman and announcing some BIG contests and prizes!! This year we have added two additional red kettle locations in Orlando! And, we are in the process of getting a kettle location in San Juan, Puerto Rico for a total of four kettles this year! We love giving back during the holidays and hope you will signup and volunteer!

What is the Red Kettle Challange?

During the Holiday season team members take time out of their busy schedules by volunteering as "Bell Ringers" at our kettle locations to help raise money for The Salvation Army. Last year team members from our stores and corporate, and friends & family volunteered more than 160 hours! We hope you will volunteer in making a difference and providing hope for those that need it most.

This year's Team Captains are Dave Skibinski, Omar Armijo, John Meija and Edwin Lopez. Get ready for contests big prizes $$$$!!! More information coming soon!

2023 Team Captains & Locations

Dave Skibinski

Dr. Phillips

Publix at The Market Place

7524 Dr. Phillips Blvd

Omar Armijo Orlando

Publix at Rio Pinar Plaza

409 S. Chicasaw Trail

John Meija Orlando

Publix at Conway Crossing 4501 Hoffner Avenue

Edwin Lopez

San Juan, Puerto Rico

More info coming!

Kissimmee 5 Back to School Give-Away

Back to School Tree at Orlando 1

Nelly from Miami 1 sold $99.2K for July!

Backpack Give-Away at Yauco 1 in Puerto Rico!

Orlando 5 Backpack Give-Away

Team Oistins, Barbados!

Orlando 10 Back Pack Give-Away

Orlando 2 Back Pack Give-Away

C

Team Oistins, Barbados!

Nastassia Thomas, Kingston 2!

Tania Brown, Cayman!

IN THE NEWS

Green & Clean!!

Kissimmee 2 new sign really pops! Brian Nepa, Assistant Manager and Jojo Henry power washing and cleaning up storefront at Cayman! Orlando 7 painting and power washing their store front!

OR7 tak sto

Montego Bay Market on the Plaza!

Olando at Montego Bay, Jamaica ringing in sales on the plaza and displaying great deals!

Kissimmee 6 Christmas in July Customer event.. the Grinch stopped by!

Kissimmee 6 Christmas in July Customer event!

IN THE NEWS

Kissimmee 7 in St. Cloud, Florida team building at the range!

Kissimmee 2 accepting the trophy for top store in the region!!

Christmas in July decoration winners from Orlando 7, having their awarded team dinner!!

Congrats Takisha Williams and Paula ValdezLightbourne at Turks & Caicos Uptown store for their outstanding performance in June! The store beat budget by $11,000 and Paula achieving $120,434 in Sales for Q3!!

Toudian Young

Stephanie Rodriguez Alvarez

Yagaira Marrero

Micah Marbury

Carlos Febres Del Valle

Brandon Gonzalez

Diana Feliciano

Ingrid Jones

Felicia Wozniak

Jose Serrano

Mike Desamours

William Cruz-Santiago

Angie Garcia

Krystopher Medina Tanco

Jose Dominicci Arroyo

Juan Gonzalez Pena

Lavern Osbourne

Orlando Rosa Hernandez

Heidy Santiago

Jeanette Maldonado-Rivera

Jose Quinones

Maxwell Seymour

Takisha Williams

Jean Dejesus

Leean Lafontaine Rodriguez

Carlos Blanco

Myrna Merle Mendoza

Keisha Villanueva

Nastassia Thomas

Kevor Burton

Michelle Peck

Nick Vidal

Omar Cruz Claudio

Celebrations! Celebrations!

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OUR MISSON

To be the largest and most profitable chain of pawn stores in the world.

OUR PURPOSE

To be the best at whatever we do; because our family, customers, community & company deserve it.

Great Teams

Excellence in Every Role Green and Clean Open Culture of Trust and Accountability

Celebrate Our Accomplishments