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Discussion Starter #1
Going to be opening one in a few months. Coming out of a different industry with no experience in retail, I thought you guys might have some ideas on how to really hit the ground running. I'm sure none of you have ever used one, but any info you could share may be useful. If you ever did need some fast cash why would you choose one store over another? Rates, chain over a mono,ad on TV/radio,location,etc. When you walk into any business what strikes you as "I feel comfortable here". Plants, TV/Music, furniture, stripper pole? Thanks for any ideas.
 

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I use to do some work for one of the bigger ones around here. There rates were in the 500-525% range. The clown that owned it was from down in the SE part of the country. I almost had some Next of Kin re enactments trying to collect. I couldn't believe the difficulty considering the rates they were charging. One of the areas they were lacking is there information collection. They were'nt able to verify phone numbers and addresses from the various customers. There are a few service providers that alot of repo companies use that are very good. If your going to do anything with the title side of it, you may want to start speaking to the repo companies aout rates and etc.
 

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Discussion Starter #7
Redneck...wondering who the "sleezy" one is? The owner who charges high interest on unsecured debt from a under banked borrower that 12 out of 100 will say f-him and never pay the money back. Or the customer, excluding someone with a unexpected emergency, that has no regard for who they screw. Over borrowed and don't pay back friends, family, cc companies, banks, you name it. Not that I am a fan of banks,or cc co's but when someone f's them they usually f us, so we all pay for their mistakes. Just wondering.
 

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Isn't there something like a 400% mark up on those loans?

People might do better to borrow the money from Guido or Vinnie:)sphss.
 

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I've got a Payroll Advance next door to my shop in Moreno Valley. They have a line out the door quite often. This guy is making bucks. Big bucks.
 

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Redneck...wondering who the "sleezy" one is? The owner who charges high interest on unsecured debt from a under banked borrower that 12 out of 100 will say f-him and never pay the money back. Or the customer, excluding someone with a unexpected emergency, that has no regard for who they screw. Over borrowed and don't pay back friends, family, cc companies, banks, you name it. Not that I am a fan of banks,or cc co's but when someone f's them they usually f us, so we all pay for their mistakes. Just wondering.
The guy I was dealing with was a sleezy individual. 500% interest? There use to be usery laws in place, and there should still be. I don't know what your particular model is, so I can't comment on that. Theres a fine line on which side someone lands with the business your going into.
 

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Redneck...wondering who the "sleezy" one is? The owner who charges high interest on unsecured debt from a under banked borrower that 12 out of 100 will say f-him and never pay the money back. Or the customer, excluding someone with a unexpected emergency, that has no regard for who they screw. Over borrowed and don't pay back friends, family, cc companies, banks, you name it. Not that I am a fan of banks,or cc co's but when someone f's them they usually f us, so we all pay for their mistakes. Just wondering.
you will be making a living off of people who are down and out and you put them in the hole even more
 

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I've got a Payroll Advance next door to my shop in Moreno Valley. They have a line out the door quite often. This guy is making bucks. Big bucks.
Isn't Moreno Valley the Meth :)sphssCapitol of California?
 

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Both the owners and users of those types of places deserve each other. :)devil
 

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My view is, if you are ripping people off, you deserve to get ripped off.

One of my favorite sayings in the world is:

When you walk through the barnyard, you better expect to get some schmitt on your boots.

Yours are going to be covered in it.

Ken
 
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