Quote:
Originally Posted by shahab6
Is it worth turning my pawnshop into retail jewelry store. I have a pawnshop, we buy gold , jewelry and diamond, and sell it to a broker or online right away, we don't keep it long, but we sell it at wholesale price. But now me and my partner are thinking of saving the jewelry and buying more, and making it into a retail store.. Downside is we are keeping the item for long time, upside is, more profit. What do you guys think.
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You probably will want to have a seperate shop for selling as in jewelry shop. People coming into sell their gold etc will know you are low balling them so you can retail after. That biz might drop off.
