Simple Management Group- Newsletter February 2023

A Message from the President A Message from the President

On January 25th & 26th our Annual Manager’s Meeting was held in Orlando; it was a time to celebrate all the accomplishments of 2022 and recognize Managers and Area Managers who through their performance, demonstrated exceptional success and made a significant contribution to our company during the previous year.

Congratulations to all the award recipients! We have assembled the best teams within the pawn industry and in my mind, in the world. I am very thankful for each and every one of you for continuing to be the best at whatever you do! We are off to great start as we killed January’s budget, imagine what the rest of the year is going to look like!

One of our goals is to be the most profitable within our industry. If we want to be the most profitable we have to be the best at whatever we do and strive for excellence every day. What can you do at the store level to achieve excellence every day? Start with these simple things:

• Managers, be in the Manager’s Circle all day, every day.

• Use Sales & Loans Standards – they work!

• Practice our Green & Clean motto daily.

• Beat your budget daily, get ahead and stay ahead.

• Celebrate wins, they deserve to be acknowledged.

February is BIG month with Valentine's Day and the beginning of Income Tax Returns season, all stores should be ready to help their customers and execute Sales Standard number 4, “Features and Benefits" and then be ready to add on to the sale. Improve your bottom line by controlling discounts and pricing your inventory correctly, it is selling season someone will pay full price for that item. The bigger the discount, the smaller the commission check!

I challenge each of you to make 2023 the best year ever!

The Annual Managers Meeting

January 25-26, 2023

Awards Ceremony Awards Ceremony

MANAGER OF THE YEAR

Blanca Perez (Florida, Miami 1), Kerwin Boxill (Caribbean, Cayman) and Ricardo Rosado (Puerto Rico, Ponce 1) were named Managers of the Year and received a Rolex watch in honor of their achievements!

AREA MANAGER OF THE YEAR

Rob Ramsingh (Lesser Antilles), Henry Norena (South Florida), and Javier Perez (Puerto Rico) were named Area Managers of the Year and received a Rolex watch in honor of their achievements!

HIGHEST NET INCOME HIGHEST NET INCOME DOLLARS OVER BUDGET MOST IMPROVED STORE

Blanca Perez (Florida, Miami 1), Kerwin Boxill (Caribbean, Cayman) and Gabriel Nieves (Puerto Rico, Mayagues 1)

Jihad Saadeh (Florida, West Palm 1), Zavier Joseph (Caribbean, Antigua) and Ricardo Rosado (Puerto Rico, Ponce 1)

Jihad Saadeh (Florida, West Palm 1), Bernard Cooper (Caribbean, Freeport) and Neftali Zayas (Puerto Rico, Ponce 1)

The Annual Managers Meeting

January 25-26, 2023

HIGHEST ATL/ATL PSC

HIGHEST PLO/BBO OVER BUDGET % NET INCOME TO BUDGET

Yxela Santiago (Puerto Rico, Cagal Title 1) Danielle Sturrup (Caribbean, Nassau), Juan Collazo (FL, Kissimmee 2), Neftali Zayas (Puerto Rico Carolina 2)

Joicelyn Henry, Caribbean, Grenada), Kathy Ortiz (FL, Haines City 2), Esaul Ortiz (Puerto Rico, San Juan Title 1)

HIGHEST PLO/BBO

Kerwin Boxill (Caribbean, Cayman), Jihad Saadeh (FL, West Palm 1), Luis Camacho (Puerto Rico, Caguas 1)

HIGHEST NET REVENUE OVER BUDGET %

Javier Garced (FL, Haines City 3), Bernard Cooper (Caribbean, Freeport), Zuleyka Montanez (Puerto Rico, Farjardo 1)

HIGHEST NET REVENUE

Kerwin Boxill (Caribbean, Cayman), Blanca Perez (FL, Miami 1), Ricardo Rosado (Puerto Rico, Ponce 1)

TOTAL PSC DOLLARS

Kerwin Boxill (Caribbean, Cayman), Blanca Perez (FL, Miami 1), Luis Camacho (Puerto Rico, Caguas 1)

WARRENTY SATURATION DOLLARS

Blanca Perez (FL, Miami 1), Luis Camacho (Puerto Rico, Cagaus 1), Tannasha McNab (Caribbean, Montego Bay)

BEST INVENTORY TURNS

Bradley Leacock (Caribbean, St Vincent), Blanca Perez (FL, Miami 1), Tanya Roman (Puerto Rico, Arecibo 1)

The Annual Managers Meeting

January 25-26, 2023

BEST GP$ OVER BUDGET

Bernard Cooper (Caribbean, Freeport), Blanca Perez (FL, Miami 1), Yashira Reyez (Puerto Rico, Humacao)

TOTAL RETAIL SALES

Kerwin Boxill (Caribbean, Cayman), Blanca Perez (FL, Miami 1), Ricardo Rosado (Puerto Rico, Ponce 1)

RETAIL SALES TO BUDGET % Javier Garced (FL, Haines City 3), Zuleyka Montanez (Puerto Rico, Fajardo 1), Bernard Cooper (Caribbean, Freeport)

2023 PRESIDENT'S COUNCIL

Ricky Acosta, Eric DeAnda, Jackie Garcia, Joicelyn Henry, Erica Diaz

Lopez, Jessie Rosado, Evelyn Martinez, Blanca Perez, Ricardo Rosado and Takisha Williams

EMPLOYEE OF THE YEAR

Trish Fagg was named the Corporate Employee of the Year and received a 1 oz gold bar

The Annual Managers Meeting

January 25-26, 2023

Cocktail Reception & Dinner Cocktail Reception & Dinner

Thank you to all our Store Managers and Area Managers for your outstanding leadership!

It was John's Birthday!!

Strategic Management Camp

January 10-11, 2023

Thank you to everyone who attended the January Management Camp!

Attendees: Pedro Figueroa (YA1), Anisdalia Pagan (SJ2), Juan Cuevas (SS1), Alberto Rivera (CA1), Zuleyka Montanez (FJ1), Ashley Spaid (SJ1), Rosie Rosario (OR1), Alysia Rivera (KM1), Blana Perez (MI1), Eloy Estrada (MI2), Pablo Cruz (TP5), Marilyn Vasquez (KM7), Rafael Sanchez (KM8), Greg Jules (Dominica), Bernard Cooper (Freeport), Tannasha McNab (MoBay), Lavern Osbourne (Mandeville), Danielle Sturrup (Nassau), Bradley Leacock (St. Vincent), Edwin Lopez (Director of Operations) and Cindy Chapman (Gem Pawn).

Had a fun Happy Hour at Top Golf! Thanks so much to everyone who came out to play!

JEWELRY SALES TIPS

Want to close more sales with a higher GP?

FOCUS on Benefits, Not Features!

FEATURES are the factual details and product specifications. Non-Emotional

BENEFITS are what the product can do to make your customers life better, easier, more enjoyable, special.etc.

Emotional

When you focus on features, your customer will focus on price! They will want discounts and ask for your business card to price shop everywhere until they find the same features for the lowest price

Every time you discount, you are making it harder to reach your sales goals and you are making less money for you and your family.

Secondly, holding firm on jewelry prices helps make up GP% for the traditionally lower margin GM sales.

When you focus on benefits, your customer becomes emotionally involved and will want that item; price & discounts becomes secondary.

By asking the customer questions, you can determine what features will meet their needs. Always follow up a feature with a benefit. By emphasizing benefits, you will motivate them. Instead of discounting, let the customer know they are getting a fair price. A customer will buy at fair price when they understand the benefits of buying the item outweighs the amount of money they have to spend.

Use statements like the following:

“Picture the look on her face when you give her this rock!”

“What will your friends and family say when you give her this beautiful engagement ring?”

“Imagine what the guys will say when you have them over this weekend to watch the game on this big screen tv!”

Using this sales technique will turn non-emotional “lookers & bargain shoppers” into emotional buyers that are willing to pay a fair price to get what they want! It’s all about selling the benefits, not the features.

Romance Your Jewelry Customers

…and eliminate many price objections!

Customers tend to focus on logical reasons to make a purchase, such as price and quality but the driving force behind their decision often lies in emotional reasons Incorporating romantic and descriptive words into your presentation will encourage your customers to focus on the gift, the recipient, and the occasion, rather than focusing on the price When you use descriptive terms combined with talking about the occasion and the recipient, you are focusing on the benefits and the customer becomes emotionally involved and the price becomes secondary.

When you only speak in terms of features, such as 10k & 14k gold, your customer will focus on the price, and will shop around to find the best price. When you say something like, “How thrilled will she be when you put this Anniversary ring on her hand this Valentine’s Day?”, your customer will become emotionally invested.

Even though it’s Valentine’s Day, make sure to ask for the reason they are shopping and who they are shopping for since they may be shopping for a Birthday, Anniversary, Quinceanera, etc They may be making a jewelry purchase for status or prestige or just to treat themselves Whatever the occasion, use descriptive terms in your sales presentation to appeal to your customers emotions, get less price objections, and close more sales!

- Greg Weiss, AJP, G G (GIA), Director of Jewelry Operations

FEBRUARY BIRTHSTONE – AMETHYST

Amethyst is the purple variety of Quartz and is primarily found in South America, Bolivia, Brazil, Africa & Arizona. The name “amethyst” comes from the Greek amethystos, which means “a remedy against drunkenness,” and was believed to protect the wearer from intoxication. Because of its wine-like color, early Greek mythology associated the gem with Bacchus, the god of wine.

Amethyst was also believed to keep the wearer clear headed and quick witted in battle and business affairs. Renaissance Europeans thought it calmed lovers overrun by passion.Some historical accounts say that Saint Valentine had an amethyst ring carved with an image of Cupid. For those familiar with Old Testament history, amethyst was one of the twelve gemstones that represented the twelve tribes of Israel. Amethyst is the gem traditionally given for the sixth wedding anniversary.

Greg's Training Agenda and Schedule Greg's Training Agenda and Schedule

We aim to be the best in the world at whatever we do for our family, customers, company, and community. This requires an intentional focus on continuous learning, building skills and implementing best practices. The 6 classes below will be our training in 2023. These classes have been developed over the past 40 years, and will focus on 1) how to make money with jewelry, 2) how to crush the competition and 3) how to protect the company against losses. The training is for all roles so we are speaking the same language, have the same knowledge and are all executing best practices. The four diamond classes must be taken in order as each class builds on the previous class. The jewelry sales classes can be taken in any order and includes sales techniques that apply to both Jewelry and GM sales.

2023 Schedule

Jan. 16 PR @SJ3/Manati/PO1

Feb. 13 TP/HC/MT @Auburndale

Feb. 20 OR/KM/St. Cloud/NSB/VS @OR1

Mar. 13 Jamaica @Portmore

Mar. 20 Hollywood/WP/MI @Dunkin

Apr. 10 PR @SJ3/Manati/PO1

Apr. 17 Cayman

May 1 Barbados

May 15 Freeport/Nassau

May 22 Antiqua

Jun. 12 TCI

Jun. 19 Grenada

July 10 Dominica

July 24 Montego Bay

Aug. 14 TP/HC/MT @Auburndale

Aug. 21 OR/KM/St. Cloud/NSB/VS @OR1

Sept. 11 Jamaica @Portmore

Sept. 18 PR @SJ3/Manati/PO1

Oct. 9 Barbados

Oct. 16 Cayman

Oct. 23 Hollywood/WP/MI @Dunkin

Nov. 6 TP/HC/MT @Auburndale

Nov. 13 OR/KM/St. Cloud/NSB/VS @OR1

Nov. 27 TCI

Dec. 4 Freeport/Nassau

6 Classes

Diamond Class 1 The 4C’s of Grading & Effective Customer Presentation

Diamond Class 2 Hands on Diamond Grading

Diamond Class 3 Challenging Hands-on Grading Real, Fake, Treated, Inscribed

Diamond Class 4 Grading, Loan/Buy/Wholesale Value, Exit Strategies, Pricing

Jewelry Sales Class 1 Sales Standards Jewelry & GM Retail Sales Strategies

Jewelry Sales Class 2 Sales Standards Jewelry & GM Retail Sales Strategies

Jewelry Training

JEWELRY TRAINING IN SESSION...

Greg educates and trains our team members to be the best at what they do! His jewelry training is a hands-on immersive experience that provides an indepth knowledge of gems, diamonds and jewelry and practical skills to train our jewelry professions!

Greg Weiss, Director of Jewelry Operations is in Puerto Rico this month!

POLETTE TORRES

How long have you been with the company?

I have worked for La Familia for 8 years, but I have been in the pawn industry for 14 years.

How long have you been a recruiter? 5 years.

How many people have you hired in the last 6 months for our company?

I have hired 24 employees. I'm planning to hire as many people as the company needs for Florida and Puerto Rico.

What are your top goals for 2023? My goals are to have no more than 5% openings of the field population.

What are the top 5 characteristics you look for when hiring?

Consistency (not a job hopper)

Experience

Work Ethic

Determination

Ambition

What makes our company great to work for?

Leadership

The people we work with

The recognition employees receive Hours of operation

Compensation

What do you enjoy doing outside of work?

I enjoy going to the beach, exercising, eating and reading.

What is something most people don't know about you? Even though I'm a people person, I love to be by myself, enjoy ME time.

Brad Leacock

Cashwiz St. Vincent

1. How long have you been with the company? 8 Years 6 Months

2. What’s your current role? Store Manager

3. Best advice you’ve ever received? Do it now. We do not have enough time.

4. Top 3 goals for 2023?

Hit Budget

Be more Profitable Increase my option book to $60K

5. Greatest accomplishment in your career so far? Making the St.Vincent store profitable.

6. What would your coworkers be surprised to know about you? I have a love for carpentry work.

7. What do you enjoy doing outside of work? Building sound systems.

Store Manager

1. How long have you been with the company?

I have been working at La Familia for 17 years.

2. What’s your current role? Lending Associate

3. Top 3 goals for 2023?

Reach $300K in PLO

Collect an average of $34K in PSC

Continue to help my store PLO growth

Lending Associate

Don Jaime La Familia, Miami 1

5. Greatest accomplishment in your career so far? Working at MI1 for 14 years and to continue to grow and perform at this level year over year.

6. What would your coworkers be surprised to know about you?

I have an Agronomy and Economy degree from Nicaragua.

7. What do you enjoy doing outside of work? Spending time with my grandchildren.

January 2023 January 2023 Top 10 Stores in Net Revenue Top 10 Stores in Net Revenue

IN THE NEWS

Z and

say thank

OR10 hitting $40K in PLO in less than two months open!

Fill the Fridge Contest winners Rafael team had to pay up Baldega and team!

Shaq

you Marilyn and team for filling their fridge!

KM1 hitting 300K in PLO! Highest in store history. Congrats Alysia, Bryan, Zory and Rafael!

OUR MISSON

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

OUR PURPOSE

Best at whatever we do; because our family, customers, community & company derserve it.

CORE VALUES

Great Teams

Excellence in Every Role

Green and Clean

Open Culture of Trust and Accountability

Celebrate Our Accomplishments