Bravo Store Systems · Free Startup Toolkit
The Pawn Shop Startup Checklist
The licensing, compliance, and operational pieces to have in place before you open the doors, so day one runs like you have done it before.
Pawn startups
Licensing & ops
Print & work the list
Opening a pawn shop is part retail, part lending, and part compliance, and the compliance part is where new owners get caught. This checklist sequences the work so nothing critical is discovered after you have already taken in your first loan.
Section 1 of 4
Licensing & legal
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State and local pawnbroker license obtained, with any required bond posted.
Requirements and bond amounts vary widely by state and city.
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If you will buy or sell firearms, your FFL is in hand before you handle any.
Pawning firearms is dealing in firearms; it requires the license.
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Business entity, EIN, sales tax registration, and required local permits are filed.
Section 2 of 4
Compliance foundations
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You know your state’s maximum loan terms, interest and fee caps, and hold periods.
These define your entire loan product; get them wrong and every ticket is wrong.
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Police reporting is set up: most jurisdictions require daily transaction reporting.
Many areas mandate electronic reporting from day one.
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Required customer ID capture and recordkeeping are in place for every transaction.
Section 3 of 4
Systems & operations
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A point of sale and loan-management system is selected and configured before opening.
Loans, redemptions, and reporting are too error-prone to run on paper.
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Cash handling, safe, and security camera coverage meet local and insurer requirements.
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Staff are trained on loan tickets, redemptions, forfeitures, and compliance basics.
Section 4 of 4
Inventory & launch
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Pricing and lending guidelines are written down so offers are consistent.
Consistency protects your margin and keeps offers defensible.
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Forfeiture-to-retail process is defined, including any required hold period.
Know the path from unredeemed loan to sellable inventory before you need it.
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Opening inventory, displays, and an eCommerce plan are ready for day one.
Reality check: the new pawn owners who struggle are almost never short on retail instinct. They get caught by lending caps, hold periods, and reporting rules. Nail the compliance list and the rest is a store.