If you own a pawn shop and offer cash loans with no credit checks but people aren't aware of this service, people may not stop by your business when they are in need of funds. For all you know, the majority of the public may think that your business solely pertains to pawning valuable items in exchange for cash. Brightly-colored, feather flags and a store mascot can help you increase foot traffic.
Competition Is Fierce, But It Is Not A Deal Breaker
Banks, credit unions, and independent loan companies may be prevalent in the town that your pawn shop is located in, and you may be losing many of your customers to these businesses. If you offer loans that do not require a credit check, however, your business should be a strong contender when it comes to acquiring loan applicants.
The terms of your loans need to be identified clearly so that a person who is in need of cash won't hesitate to enter your shop. What is the main factor that determines if a person is approved for a loan? Do you merely require that a client has an active checking account and is gainfully employed, or do you request that a client hands over the title to their vehicle while they have an active loan?
The main requirement should be put into words and printed on each feather flag that you purchase. You can select a pile of cash, a bucket of coins, or another picture that pertains to money to lure people to your business. Request that the picture is printed at the top or bottom of each feather flag.
Next, choose how many flags will provide enough visuals for the storefront and parking area that adjoins the pawn shop. One flag could be placed in each corner of the lot and a couple of flags could be displayed near the front of the business, or you could choose to use feather flags to line the entire front of your property.
A Mascot Can Hand Out Promotional Items
Once your flags are spotted, people who need emergency funds and who are worried about being turned down for a loan due to their poor credit scores may decide to give your business a chance. Hire someone to dress up as a 'cash cat' or 'dollar dog' and request that they hand out promotional items, such as coupons that can be used to extend payment due dates or reduce interest charges. Your mascot can either stand by the pawn shop's door or you can ask them to stand next to one of the cash loans feather flags.