Apr 4, 2018
From a very young age, Lauren
Kaminsky Goldman, also known as the GoldGirl, has been involved in
multiple facets of the jewelry world. Her career has covered
businesses ranging from blogger to curator to, most uniquely,
Lauren’s love for treasure hunting began at her grandfather’s pawn shops, where she would sift through trays of jewelry to find unique pieces and pretend to negotiate the best deals with the staff.
Now, as a third-generation pawnbroker, Lauren has elevated to Chief Operating Officer and President of EZ Pawn Corp., overseeing 15 stores, and working alongside her father/CEO, David, and brother, Jason. She has worked hard to grow the business as well as to educate the public about pawnbroking in hopes of altering negative stereotypes from past generations.
Outside of her day jobs, Lauren has spent years being active on the Board of Directors for the National Pawn Association. Lauren looks forward to expanding her brand to other corners of the jewelry world and to be a well-respected voice within the fine jewelry community for many years.
[02:12] For a New York pawnshop to legally operate, there is a maximum interest rate of 4% per month, buys are held for 15 days after purchase and loans are held for 4 months with a 30 days grace period.
[03:57] When Lauren studied business and entrepreneurship at Boston School of Management she decided to assist her father with his pawnshop for the summer.
[09:01] The name GoldGirl originated when Lauren presented a kiosk business for her thesis in college, and the designer for the kiosk could not remember her name, so called her GoldGirl.
[10:24] Beauty & Essex is a pawn inspired retail shop and restaurant with a vintage collection of jewelry and musical instruments. The started in Lower Manhattan and has expanded to LA and Las Vegas inside the Cosmopolitan Hotel.
[13:56] What has using your personal brand on social media done for EZ Pawn Corp? Social media has allowed the business’ name to spread quickly. Persons are able to see a different side of the business that they can relate to right away.
[15:05] In an industry dominated by men, how does it feel being a senior female in the business? The fact that it is a family business, I never felt out of place. However, having the respect and support of my father helped to motivate me being young and a female in the business.
[18:15] In 2010, EZ Pawn had 5 stores and have grown that number to 15 in 8 years
[18:55] The most difficult thing about growing your business is finding the right staff to holding the business together
[19:10] “When you have a great framework, it can easily get knocked down by having the wrong people represent you.”
[19:34] 3 things that EZ Pawn does that makes them successful are:
[20:05] A demographic survey was done by EZ Pawn and it showed where 60% of their customers were between the age 18-31 years old. This therefore meant that the business had to find a way to connect with their audience
[20:45] Working with TAO Group taught Lauren the concept of using hospitality to assist in the success of the pawn store
[21:32] Customers like knowing that they:
- can get through to a representative of the pawnshop
- have the convenience of using an app and getting a response via email right away
- are buying from a store that has brand recognition
[22:45] You can utilize zipwho.com to get the demographics of persons living in different areas.
[23:44] Lauren speaks about the importance of being a part of the community leading the change
[26:51] Check out Lauren’s website at bygoldgirl.com and connect with her using the handle bygoldgirl on Instagram and all social media sites