Lessons From A Pawn Shop

In my efforts to live a minimalist lifestyle, I am constantly downsizing.

Getting rid of things can be a real hassle and so I tried something new, a pawn shop.

I had several things in the car, one of which was more expensive and useful than the other minor items.

The store employee came out to the car to check things out.

He had no interest in the more expensive item. Instead, he focused on a couple of small, unique items. Then he asked me about another item in the car that was not for sale.

I agreed to let the smaller items go, at a hugely discounted price, by the way. Hey, I really just wanted to get rid of this stuff.

On the way to the store, I asked him what he used in his purchasing criteria, besides the potential for a huge markup, that led him to pick these two small items.

His answer, they keep things interesting. Now that he said it, of course, why else would anyone return to a pawn shop?

As we returned to the store I noticed all the little “interesting” things scattered in and around the bigger ticket items.

There are two great messages from this business owner. Three if you count the purchasing criteria that guarantees a huge profit on all retail items. 🙂

The first lesson is that this business owner keeps things interesting because he knows that will keep people interested and the longer they stay in the store, the more likely they will be to find something to buy.

The second lesson is that this business owner knows and understands his customers. More specifically he knows their general interests and what will sell off the shelves at a huge markup, as long as he keeps them in the store long enough looking at the “interesting things.”

We need to always address the customer experience as part of our marketing strategy. What can we do to keep things interesting, which helps keep our people buying over and over again.

In the fitness industry, members and customers give us money every month as they buy our services over and over again each month. They desire and pay for the outcome they believe your program, better than any other program, will get them.

We need to creatively keep them engaged, excited, and believing that they can achieve the results they want, especially when they experience minor setbacks.

This is the fun part of owning a fitness business.

Remember you get results if you take immediate action on your idea!

Posted by Ron Gordon

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