Timmy Harrison
Brooklyn, NY (USA)
Role(s):
Founder/Owner/Principal
2001 Pawnbrokers Inc
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Startup
Location:
Brooklyn
Industry:
Finance
Year Founded:
2007
Number Employees:
1-10 people
Description:
My partner and I opened up our own pawnshop after working for one for 7yrs. He had owned 2 before with his grandparents but ran into the same money problems as we are running into. We started up with our personal monies and thought that since we were new, it would not take off like it did. Well that wasnt the case. In six months we had lent out 200k and was running out of money. We only lend on gold and diamonds and lend about 1/3 of the wholesale value. We have two employees plus ourselves. The neihborhood has 2 other shops within a two block radius so the business is in a perfect spot.