what are the requirements for a pawn shop business?

Answer 1

It will depend on your county, but you will most likely be required to get a license and post a bond.

In Missouri, for example
http://www.moga.mo.gov/statutes/C300-399/3670000043.HTM a pawnshop operator would need the following:

1. a pawnshop license
2. must be of good character without any felony or misdemeanor convictions
3. investigation fee
4. post a bond

In Illinois http://www.obre.state.il.us/cbt/PAWNBROK/PAWNBROK.htm , you need to apply to the state's Department of Banking to start your pawnshop business. While it may not be the same as your state, check the link to get information on the requirements. For example, the schedule of fees are as follows:

SCHEDULE OF FEES (Illinois)
Annual License fee $ 765
Change of Control of Ownership $ 300
Change of Name $ 50
Change of Location $ 50
Issuance of Duplicate License $ 50

In Florida, the Department of Agriculture and Consumer Services regulates pawnbrokers. "All pawnshops are required to apply and obtain a license with the Department annually. Each pawnshop must maintain a net worth of at least $50,000 or file security in the form of a surety bond, letter of credit or certificate of deposit in the amount of $10,000. The Department is authorized to impose penalties for noncompliance of the law, up to $5,000. " http://www.800helpfla.com/pawns.html

You can find additional information from the following associations, publications and websites

National Pawnbrokers Association (check their FAQ as it contains great information on this business; they also have magazines and newsletters that you may want to check out) http://www.nationalpawnbrokers.org/

Illinois Pawnshop Association http://www.illinoispawn.org/ (check for other state associations, especially your state)

Leads Online (used by pawnshop operators to pass Patriot Act compliance audits, and is 100% FREE to pawnbrokers) http://www.leadsonline.com/main/default.aspx

Pawnshop Directory (make sure you are listed in this as well as other directories) http://www.pawnshopyellowpages.com/

Answer 2

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Pawnbroker's Handbook: How To Get Rich Buying And Selling Guns, Gold, And Other Good Stuff by V. Alexander Cullen
* A Guide for Pawnbrokers by the National Pawnbrokers Association

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

better not to have education

since it spoil human health and tidiness of places

so dont have to worry about ill effects

every educated man has responsblities over society

beacause country spent more on him and given more of the resouce showered upon him.

Answer 4

To not care if the items you get are stolen or not.