A Message from the CEO A Message from the CEO
Our company pays the individual, not the team, for performance, that is why we pay incentives based on individual performance. Why? Because despite the noblest of intentions toward individual performers, team based financial incentives inevitably rewards slackers and punishes producers. Team measures are unfair to our sales associates 100 percent of the time, because a team incentive for individual performers risks confusing and discouraging personal excellence. Managers, however, are rewarded based on store net income each month, which is considered indicativeoftheirindividualperformance.
This lesson dates back to the early 1620's and the Pilgrims. After landing on Plymouth Rock, they lived in a commonwealth setting whereby everyone "benefitted" from what the community produced. Distributions were based on need, and caused an unmitigated disaster leading to widespread starvation. This system created confusion and discontent. Young men that were the most able fit for labor, did not feel it was fair that they should spend their time and strength to work for other men's wives and children without any reimbursement. In other words, poor personal incentives produced little food and raised animosity within the Colony. To remedy the matter, the Colony devised a new means of production using private property assigned to each family for personal cultivation; what you grew, you kept, traded, or sold. The results speak for themselves, thechangehadverygoodsuccess,foritmadeallhandsveryindustriousandtheythrived.
Given today's socioeconomic and political landscape of entitlements, one can only wonder if the Pilgrims' colonial lesson has been lost. This system of balanced competition and cooperation works for our sales associates, too. Every sales associate has a cash drawer from which he or she conducts and grows business. Sure, our people like to compete against each other, but only in a way of spurring themselves to even bigger victories. Competition tends to bring out the best in people, yet each team member knowingly depends on others to service their customers, maintain the store, and create a welcoming environment. They need one another in order to provide a culture of winning. Managers supervise the overall effectiveness of a store. They are paid on the performance of the team, and they must keep the team functioning. They are charged with holdingtogetherindividualswhoworkinthesamestorebutoutofaprivatedrawer.
Instead of having group financial incentives, a compensation plan that mimics a failed communal system of production, we embrace the importance of personal productivity on the front lines of our stores.
IN THIS ISSUE September 2023 NEWSLETTER ISSUE 21
Pay the individual, not the team, for performance. Million Dollar Celebration 2 Dave Ramsey Class 2 La Familia App Sign-Ups 2 Management Camp 3 Jewelry Training 4-6 Promotions & New Hires 7 Webinar Training 7 Top 5 SLA’s in Sales 8 Top 5 SLA’s in Productivity 9 Top 5 Stores 10 IN THE NEWS 11-20 Celebrations 21 Mission, Purpose & Values 22
Million Dollar Celebration!
OnAugust21,SMGhostedtheMillionDollarCelebrationin honor of Miami 1 team for hitting $1 Million in PLO. Congratulationstothestoremanager,EloyEstradaandthe entireMiami1teamforreachingthishugemilestone!
Dave Ramsey SmartDollar Class
Meet our future millionaires! SMG held the Dave Ramsey SmartDollar class this month. This is a free financial wellness class for all our employees. SmartDollar is a financial solution that leads to lasting behaviors. It provides a proven plan where employees learn to save for emergencies, eliminate debt, and retire with confidence. The next part of this series is scheduled for September19&21.
2 Top 10 Stores in August with La Familia App Sign-Ups! #1 AG1, Puerto Rico 53 #2 AR1, Puerto Rico 41 #3 BY2, Puerto Rico 33 #4 BY1, Puerto Rico 32 #5 HC1, Florida 30 #6 KMI, Florida 27 #7 MN1, Puerto Rico 26 #8 OR6, Florida 21 #9 SJ1, Puerto Rico 21 #10 SJT1, Puerto Rico 21
Management Camp was held in Kingston, Jamaica this month!
August 9 & 10 was a big success!
We hope you enjoyed attending!
Cargill Brown (Area Manager)
Danielle Grant (Admin. Coordinator)
Kingston1
Shakira Scott (Lead SA)
Andrine Brown (Assistant Manager)
Kingston 2
Aloha Wallace
Portmore
Kamel Whyte (Store Manager)
Christina Plummer
May Pen
Georgia Graham (Assistant Manager)
Shavet Stone (Lead SA)
Mandeville
Aldronie Desdunes (Assistant Manager)
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Jewelry Training
DIAMOND NEWS FLASH!
Retail Jewelry Stores Sell “USED” Diamonds as NEW!
Have you ever had a customer say they would not buy an engagement ring from a Pawn store because they don’t want a “used”diamondorwanttowearsomebodyelse’s“badluck”? When such statements are made, it is time to educate the customer and close thesale.
Thefirststepistoremindthecustomerthatalmostalljewelrystores havediamondexchangeandupgradeprograms.
Then explain that when retail customers trade in their diamond for reasons ranging from anniversaries, holidays, divorce, broken engagements, death, upgrades...etc, thesediamondsgobackinto theirretailsystemtoberesold–ASNEW!
In my personal experience of selling diamonds in retail for 20 years, I have sold many of the same diamonds multiple times to multiple people that took advantage of the trade in policy – and they never knew they were pre-owned. This is legal due to the federal government says that there is no such thing as a used diamond!
U.S. Federal & many international laws state that diamonds are not considered used and do not require disclosure if a diamond has been previously sold or worn. The main reason is because diamonds are the hardest natural substance known to man and they are all billions to millions of years old. Therefore, there is no way to know if a diamond is “worn”or“old”.
Another way pre-owned diamonds end up in retail stores besides trade-ins, are through Dealers who buy our diamonds and sell to wholesalers that then sell it back to retail stores for resale. In this case, noteventheretailjewelerknowsthatthediamondispre-owned.
If you share these facts with the customer who is concerned about a “used” diamond, now they know they can buy it directly from us for less…or they can go to a Retail store and pay more than double forthesamequalitydiamondthatisverylikelypre-owned!
If they insist on a “new” engagement ring, sell them the diamond they like & have our jeweler put it in a new setting, exactly what the retailerdoesandlegallycallsNEW!
GregWeiss,G.G.(GIA)DirectorofJewelryOperations
SEPTEMBER BIRTHSTONE
Sapphire isthetraditionalbirthstoneforSeptember babies. Sapphire comes in every color of the rainbow,withbluebeingthetraditionalcolorforthe month.
The name Sapphire has many origins; the Persian word "Safir" the Greek "Sapphiros" & the Latin "Sapphirus." Traditionally, this stone was believed to protect your loved ones from harm and symbolizeswisdom,purity,andfaith.
Sapphires are found in India, Myanmar, Thailand, Vietnam, Sri Lanka, China, Australia, Brazil, Africa, and North America (mainly Montana). Sapphire is a hard and durable gemstone, being a 9 on the MOHS Hardness scale, with the hardest gemstone, Diamond being a 10, which makes it good for everydaywear.
FamouspeopleborninSeptember: Beyonce, Keanu Reeves, Gloria Estefan, Adam Sandler, Pink, Alfonso Ribeiro, Jada Pinkett Smith, DougE.Fresh,GwynethPaltrow Jewelry
September 11th
Puerto Rico @ SJ3/Manati/PO1
September 21st
SMART Camp Orlando 1
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Training Schedule
Jewelry Training
Jewelry Training Classes
monthinKingston,Jamaica,Orlando/Kissimmee/EastCoastFlorida,andAuburndale/TampaFloridamarketareas.
5
GregWeiss,SMG’sDirectorofJewelryOperationsandCertifiedGemologistheldseveraljewelrytrainingclassesthis
Jewelry Training Kingston, Jamaica!
Jewelry Training
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Jewelry Training Orlando/Kissimmee/East Coast FL
Jewelry Training
Auburndale/Tampa FL
Jewelry Training Auburndale/Tampa FL
PROMOTIONS
Tashanna Grant-Bucknor Store Manager, Montego Bay, Jamaica
Gissel Olan Beltran Manager Trainee, MY1, Puerto Rico
Deandrea Rahming Manager Trainee, Nassau, Bahamas
Edith Ugarte-Dominguez Assistant Manager, Tampa 5, Florida
Axel Ramos Segarra Assistant Manager, AG1, Puerto Rico
Jhensy Acevedo Key Holder, Tampa 5, Florida
Juan Gonzalez Pena
Auto Title Loan Associate, SSI, Puerto Rico
Jaheim Holness
Lead Sales Associate, Mandeville, Jamaica
Chehara Thompson
Lead Sales Associate, Freeport, Bahamas
Ramon Azpurua Martinez Sales and Lending Associate, MN1, Puerto Rico
WELCOME TO THE TEAM
We are excited to welcome our new team members!
Jamal Elsadi, Manager Trainee, Tampa 5, Florida
Samantha Salkie, Manager Trainee, Portmore, Jamaica
Luis Rodriguez Vasquez, Manager Trainee, Orlando 5, Florida
Mark Hubbard, Assistant Manager, Tampa 2, Florida
Carlos Fuentes Perez, Assistant Manager, Kissimmee 5, Florida
Wilfredo Palomo, Auto Title Loan Associate, MY1, Puerto Rico
Jonathan Almanzar, Ebay Associate, Orlando 1, Florida
Jose Contreras Alicea, Sales & Lending Associate, YA1, Puerto Rico
Dellano Harris, Sales & Lending Associate, Portmore, Jamaica
Cristhian Perez-Hernandez, Sales & Lending Associate, Haines City 2, Florida
Aidiri Castro Montes, Sales & Lending Associate, HU1, Puerto Rico
Francisco Ortiz, Sales & Lending Associate, YA1, Puerto Rico
Alicia Persue, Sales & Lending Associate, Grenada
Jose Santana Rivera, Sales & Lending Associate, San Juan 1, Puerto Rico
April Villa, Sales & Lending Associate, Haines City 2, Florida
Webinar Training Schedule
Sept. 4
SA/SLA Attributes
Sept. 11
Circle of the Sale 1 - Initial Contact
Sept. 18
Circle of the Sale 2 - Needs Assessment and Demonstration
Sept. 25
Circle of the Sale 3 - Closing the Sale and Adding-On
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AUGUST AUGUST TOP 5 SALES & LENDING ASSOCIATES IN SALES TOP 5 SALES & LENDING ASSOCIATES IN SALES #2 8 #1 Juana Perez HAINES CITY 2 $64,832 $63,054 #2 #3 $61,435 #4 #5 Joshuany Ocampo WEST PALM 1 Chanelly Estrada MIAMI 1 Heidy Mena-Zamora MIAMI 1 $59,623 $56,463 Estefania Rivera MIAMI 1
AUGUST AUGUST TOP 5 SALES & LENDING ASSOCIATES IN PRODUCTIVITY TOP 5 SALES & LENDING ASSOCIATES IN PRODUCTIVITY #2 9 #1 Jaime Matus MIAMI 1 $175,238 $171,368 #2 #3 $155,916 #4 #5 Ingrid Jones CAYMAN Joshuany Ocampo WEST PALM 1 Juana Perez HAINES CITY 2 $145,793 Yagaira Marrero TAMPA 4 $142,178
TOP 5 STORES IN NET REVENUE TOP 5 STORES IN NET REVENUE
#1
MIAMI 1
Store Manager: Eloy Estrada
$207,406
#2
HAINES CITY 1
Store Manager: Joe Baldyga
$144,130
#3
WEST PALM 1
Store Manager: Jihad Saadeh
$120,641
#4
PONCE 1
Store Manager: Ricky Rosado
$119,567 #5
SAN JUAN 3
Store Manager: Jefry Colon
$118,673
AUGUST AUGUST
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IN THE NEWS
Orlando 6 lots of customers came in to participate in our gift card giveaways!
Customer Appreciation Day at Orlando 6!
Customer Appreciation Day at Orlando 1, hosted by SLA Aida. She made the best hot dogs ever!
Franky at Tampa 2 serving up hot dogs for our customers!
IN THE NEWS
a 39.5% GP and $23,315 Net.
West Palm 1 hitting $957K on 9/5/23 on their way to a million!!
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San Juan 3 in Puerto Rico Celebrating 8 Year Anniversary! $42,709 Sales with
Edwin our new jeweler at Kissimmee 8 his first two weeks already making money almost $500 in repairs for our customers !!
El equipo de los Vaqueros de Bayamón 1 impulsando confianza aún en los que visitan a PR
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IN THE NEWS
Kaheel and Jaheim at Mandeville represent our core value, Great Teams!
Congratulations Michael Barnette for being promoted to store manager at Kissimmee 5!
Celebrating winning the Christmas in July Contest!
Congratulations to the customers that won our gift card giveaways at Orlando 6!
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IN THE NEWS
Cashwiz Grenada Team!
Cashwiz Dominica Team!
Cashwiz Grenada team handing out flyers in the local community!
Cashwiz Dominica celebration lunch!
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IN THE NEWS
Mejia's market celebrating Angie Garcia's birthday!
a
Tampa
1 is making it happen with
new “Apply Here” finance station for customers!
Tampa 1 Tent Sale!
Tampa 1 customers are the best!
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Clean
Check out the Green & Clean Makeover before and after pictures at Haines City 1 and 2! IN THE NEWS
Green &
Makeovers in DeAnda Area!
IN THE NEWS
2023 Back to School Backpack Drive!
The 2023 Company-Wide Back to School Backpack Drive was a huge success! This year, our stores gave out over 300 backpacks and school supplies to kids throughout Florida, Puerto Rico and the Caribbean!
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Volusia 1 Back to School Giveaway Event!
Miami 2 Backpack Giveaway Event!
Broward 1 Backpack Giveaway Event!
Kerwin Boxill and Dave Skibinski teamed up to get much needed school supplies and backpacks to the Caribbean!
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Miami 1 Back to School Giveaway Event!
West Palm 1 School Backpack Giveaway Event
Kissimmee School Laptop Raffle Winner!!!
Armijo Region Back Pack Giveaway Event!
IN THE NEWS
IN
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THE NEWS
KIssimmee 6 Backpack Giveaway Event!
KIssimmee 6 Backpack Giveaway Event!
Miami 2 Backpack Giveaway Event!
Broward 1 Backpack Giveaway Event!
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Armijo Region Back Pack Giveaway Event!
Armijo Region Back Pack Giveaway Event!
Armijo Region Back Pack Giveaway Event!
Armijo Region Back Pack Giveaway Event!
IN THE NEWS
Jailene Rodriguez Sept 21
Erick Evangeliste Sept 22
Dameisha Chase Sept 24
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CELEBRATIONS
KIssimmee
Leticia Cofrancesco 14 years Rafael Deleon 13 years David Quesada 13 years Ricardo Rosado 9 years Franklyn Allen 7 years Paul Padilla Soto 5 years Johan Rodriguez 5 years Carlos Bustamonte 5 years Ciribeth Rivera Lopez 5 years Carlos Maysonet 3 years Joseph Baldyga 3 years Ramon Rosario 3 years Juana Perez 2 years Larry Velez 2 years Hector DeVictoria Gonzalez 1 year Chantal Hernandez 1 year Keena Laing 1 year Suhay Ortiz 1 year Debrah Pagan Ramos 1 year Adrian Diaz Rodriguez 1 year Ramos Segarra 1 year Christopher Soto 1 year Natalia Thomas 1 year Gregory Bowles Sept 1 Omar Barnaby Sept 2 Gabriela Gonzalez Cintron Sept 2 Andrew Hinson Sept 2 Natalia Thomas Sept 2 Maria Roque Sept 3 Antoine Fontaine Sept 4 Paola Cruz Sept 5 Shakira Scott Sept 6 Chantel Hernandez Sept 7 Karina Nunez-De Vargas Sept 8 Samara Williams Sept 8 Jose Contreras Alicea Sept 9 Magaly Cardenales Sept
Olando Robinson Sept 10 Elezar Diaz Amador Sept
Kimberley Headlam Sept
Suhay
Sept
Sept
Ricardo
KIssimmee 6 Backpack Giveaway Event!
6 Backpack Giveaway Event!
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12
12
Ortiz
12 Jadith Colon Aranzamendi
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Rivera Orellano Sept 13 Chehara Thompson Sept 13 Madeline Burgos Vazques Sept 14 Yisel Diaz Sept 15
Suheily Pomales Hernandez Sept 15 Christopher Velez Sept 15 Roberto Guerrero Quinones Sept 16 Pedro Rivera Sept 16 Bradley Leacock Sept 18 Georgia Graham Sept 18 Nemesis Cruz Vazques Sept 19 Miguel Jarquin Sept 21
Kimly Bonheur Sept 24 Rochelle Sherwood Sept 30
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. CORE VALUES
Great Teams
Excellence in Every Role Green and Clean Open Culture of Trust and Accountability
Celebrate Our Accomplishments
Office Address: 2600 Lake Lucien Dr., Suite 116 Maitland, Florida 32751 Tel: (407) 478-7296
Corporate
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