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Feb 21, 2018

Tim is the co-owner and managing partner of Pacer Limited. He is the president of the Arkansas Pawnbrokers Association, past GRC chair of the National Pawnbrokers Association (NPA) and the current president of the NPA. Tim has been married to his wife Lisa for 33 years, with 3 sons. Listen in as Tim shares his experience as a pawnbroker and as president of the NPA.


[00:32] Tim founded his pawnshop in 1990 after a 10 year career in retail jewelry


[01:59] He started working in a jewelry store during Junior high school. He then went on to working at a jewelry store during college.


[02:49] An independent had an idea for a jewelry only pawnshop specializing in fine jewelry. They partnered and started the pawn store.


[03:36] There is no retail pawnshop or storefront. Items that are not redeemed are wholesaled.


[06:59] Whether I was in retail jewelry or whether I was in pawn, it was very awkward for me to tell a customer on one hand ‘Your ring is worth $200’ and yet on the other hand they come back and that same ring is out in the showcase and it’s marked at $799


[09:06] Anyone who wants a job can get a job, as there are jobs available for everyone.


[10:01] Tim speaks about the difference in pawning since employment is now on the rise. Persons don’t need to pawn as much as before.


[10:29] The prices of gold decreasing has caused receivables to drop from anywhere between 20% to 30%.


[12:55] Having a specialized store, it can be difficult to get staff that are trained to know what is real and what is a replica.


[16:13] There is still a stigma attached to pawn stores that Tim is working hard to overcome.


[18:01] First appearance of your store is important to help break the negative stigma of pawnshops.


[18:51] It’s important to make the customers feel comfortable when they come in.”


[19:18] “A pawnshop is nothing more than a retail store that sells money”


[21:32] I have an ongoing struggle, day-by-day, in dealing with pawn customers who are in need and they just don’t have the resources to be able to get the amount of money that they need.

[22:55] Collect the account and save the customer.”


[25:00] The National Pawnbrokers Association assists with branding; as you get NPA stickers to display at your store. This shows that you are a part of a group that is committed and compliant.

[29:12] The NPA is currently working to find new revenue streams, benefits and absorb some of the cost burdens associated with shows and conferences.

[31:11] Pawnbrokers are very caring people and sharing people. And they are willing to open up and share information about how the business is run and what they can do.”

[32:28] Visit to see information on registration for upcoming events. There will be a 4 state show (Alabama, Arkansas, Louisiana and Mississippi) which is rotated to different locations. This year it will be in Little Rock.