The Week in Pawn: News & Events from the NPA 09/17/2020

Cheryle Bernard NPA News

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Local pawn shops have been busy since the coronavirus pandemic began six months ago.

Mark Farmer, Owner, Joplin Pawn and Purchase, said, “This has actually been our busiest season this summer. This past summer has been record setting numbers.” Read more…

RUNNING A PAWN SHOP CAN BE A UNIQUE EXPERIENCE  

Upon entering Texas Pawn & Jewelry at its new location on SH 29 in Liberty Hill, visitors are immediately greeted by a friendly face, while the brilliant sunlight – which is allowed to filter through the large bay windows adorning the storefront – illuminates all manner of items featured on the walls, on shelves and inside glass display cases. Read more…

Patch.com: CashCo Pawn Shop Gives Away Free Laptops Amid Pandemic

CashCo will give away a free laptop to a local recipient every Monday for 12 weeks…read more

 

IN THE NEWS:
Stories chosen for your review by your GRC team

FROM SESCO: The Families First Coronavirus Response Act (FFCRA) was enacted on March 18, 2020. The sweeping federal legislation provides emergency paid sick leave (EPSL) and expanded paid Family and Medical Leave (EFML) to certain covered workers impacted by the COVID-19 pandemic. On April 1, 2020, the U.S. Department of Labor (DOL) issued regulations implementing the FFCRA and answering, at least in part, some questions related to coverage, eligibility, use, and job restoration. On September 11, 2020, the DOL issued revised regulations; the revised regulations are effective September 16, 2020. Read more…

FROM ATF.GOV: The Bureau of Alcohol, Tobacco, Firearms and Explosives has just released their firearms trace data for 2019. As many pawnbrokers are Federal Firearms Licensees, we feel this information is of interest. Although the BATFE states in their remarks that “Firearms are normally traced to the first retail seller…”, after a 2 year pursuit of the actual contract between LeadsOnline and BATFE the NPA’s Team GRC advised you on August 4, 2020 of the source of information being used to trace previously owned firearms that have been pawned or sold to pawnbrokers. It is of note that under the terms of their agreement neither BATFE nor LeadsOnline is supposed to inform you of their relationship or involvement.


In the path of a hurricane or other natural disaster?

A number of tax laws allow the IRS to grant relief to taxpayers who are victims of a Presidentially-declared disaster.

Visit our website to download a brochure or more information.

OVERHEARD ONLINE: Your GRC leaders noticed some discussion on another group about a Colorado jeweler contacted by a San Diego, California attorney re a blind client not being able to use his website because it’s not ADA compliant & stating she “will sue for $4,000 every time she’s been denied fair & equal enjoyment of our website”. There are numerous comments from other jewelers having experienced this ‘shake-down’ with all sorts of advice.

Bottom line, we issued a GRC Update in January 2020 informing you of the Federal Appeals Court 9th Circuit Americans with Disabilities Decision (see link). This is not unique to jewelers and pawnbrokers could be next. I know many are selling online through a website, especially during these pandemic times, so take steps to be compliant sooner than later.

Visit nationalpawnbrokers.org to learn more.

FROM THE HILL.COM: Last week the Senate voted along party lines, with one exception, to advance a $500 billion to $700 billion coronavirus relief plan designed to give political cover to vulnerable GOP incumbents and put House Democrats on the defensive. The ‘debate’ continues however, with no middle ground or agreement in sight.

FROM JUSTICE.GOV:  On September 1st the Department of Justice announced a review of the bank mergers & acquisitions 25 year old rule. In 1995 there were over 10,000 commercial banks and today that number is 4,400. As pawnbrokers often experience termination of their accounts & services when banks are involved in a merger or acquisition, we are hopeful that the community banks to which many of us have turned will receive positive relief under revised rules.

 

UPCOMING EVENTS: 
All times are listed in eastern

Deanna Thompson is the author of The Beginners Guide to Luxury Handbags and the Head of Strategic Operations at Marque Luxury.

In today’s informative webinar, you’ll learn about ways you can grow your luxury handbag business in the time of Covid!
We’ll explore what works, what doesn’t, as well as how to pivot and drive those customers into your stores! RSVP now!

TUESDAY, SEPTEMBER 22 at 5pm: STATE ASSOCIATION CALL–connect with your state peers while learning what’s happening in state associations all over the country.

MONDAY, SEPTEMBER 28 AT 5pm: Q&A #DataDrivenPawn–hear from the team of pawnbrokers who worked with the company, Industry Insights, with who NPA is partnering for this groundbreaking survey.

WEDNESDAY, SEPTEMBER 30 at 4PM:  FACEBOOK’S MARKETING TOOLS—in this webinar, we’ll be joined by two marketing experts who will explore the expanding list of small business tools on Facebook and Instagram.

THURSDAY, OCTOBER 8 AT 5PM: EMAIL MARKETING FOR PAWNBROKERS with Kathleen Owen and Michael Cohen—open and conversion rates for email marketing consistently out-perform social media. Why then is it such a frequently overlooked marketing tactic for pawnbrokers? In this webinar, attendees will hear from those who have successfully implemented email marketing for their pawnshops.

TUESDAY, OCTOBER 13TH AT 3PM: COMMUNITY RELATIONS: DOING WELL WHILE DOING GOOD with Mike Willingham and others—pawnbrokers will share ways that their relationships with charitable organizations have helped them build a better business and community.

MONDAY, OCTOBER 26TH AT 4PM: MAXIMIZING THE HOLIDAYS with David Skibinski—pawnbrokers will share ways that their relationships with charitable organizations have helped them build a better business and community.

The 2020 Pawn Industry Benchmark Survey will provide real actionable insight into how your store performance compares to the industry standard. Want to learn more about the survey? Join our panel of experts, led by Martin Strasser, on a webinar

Monday, September 28th 
5pm eastern
Click HERE to reserve your spot!