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Opening a New Store – Challenging Yet A Win!

By Abigail Mielcarak,

VP of Operations, Antioch Coin & Jewelry, Lucy‘s Coin and Jewelry, Premier Pawn & Jewelry

In this particular case, a revamp of the third time was the key. Premier Pawn & Jewelry Group’s third store was a 1,500 square foot, strip mall style, pawnshop that quickly began to run out of room and needed space to truly grow into its potential. The third time around, we decided to upgrade to a 3,500 square foot stand-alone building with plans to develop a jewelry store feel. The entire process to purchase and renovate the location took about one and a half years. We went through everything from Covid-19, overpriced properties, problems with the city, and having to clean up the entire plaza to get to the point where we are today.

 

We started by prospecting for properties that would work for us, ultimately set our sights on a stand-alone building occupied by TitleMax. We made contact with the building owners and asked if they wanted to sell. We struck out. A few months later, Covid-19 hit. We contacted them again to see if they were willing to make a deal on the property. After lots of back and forth, we closed on the building in December of 2020.

 

It became apparent quickly that the plaza and the building (our new store) was located in…

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