Over the past several months…I have seen first-hand this state-of-the-art establishment go from steel framework and concrete flooring to a well-polished retail store. Initially, my thoughts about the Pawn Company where hesitant, since there was an abundance of pawn shops in the Bowling Green area. Then I met Ryan Renshaw, owner and visionary of The Pawn Company. His passion and self-assurance made me realize he was trying to innovate the Pawn Industry. Ryan wanted to take a trade that was known for being seedy and dirty, and make it into a prestigious and high class company. This had me interested to do more research into pawning. What I found about both the industry as a whole and The Pawn Company’s plan made me a believer in the business and something I wanted to be a part of. Unknown by many, pawn is another term for a collateral loan. When a customer wants to pawn an item, the amount of the loan is based on the item’s value. My argument was that pawn shops undercut what the item is actually worth, customers never repay the loan, then the pawn shop marks up the item and resells it, turning a large profit. It is cited on the National Pawnbrokers Association’s website (http://www.nationalpawnbrokers.org/faq/) that over 80% of loans are repaid, which is similar to any other lending establishment. Mr. Renshaw has stated that over 30% of residents in South Central Kentucky are under banked or do not have any form of banking. With The Pawn Company’s Max Cash guarantee, the customer can rest assured that they are receiving the most for their possession without the wait, giving customers a loan option when other institutions might turn their back.
Ryan insisted that…I visit the store during its construction to realize the scale of the building. This 14,000 square foot facility includes an electronic, jewelry, designer handbag, music, tool and gun department, each one carrying a wide selection of both new and used items at deeply discount prices. Take this new 56 inch curved Samsung television for example. On opening day it is retailing for $1,000 less than what a big box store down the road is selling the TV.
In my opinion, there is nothing else in the nation like it.
Numerous times a day travelers from I-65 peek their head in out of curiosity. Granted, the building is hard to miss with its bright yellow roof perched high up on its plot of land. Take my word, you need come check out The Pawn Company and become a believer like me. Who knows, you may not leave empty handed!