Learn About Corporate Spying!
Oh boy, I will admit, I don’t have a lot of experience with these but I do kind of have an understanding how they work. Basically they offer Pay Day Loans based on collateral, they give you time to repay and charge a higher amount to get your item back. For this type of business you would really have to know the value of a lot of items and the actual value of some very rare items. There could be some good treasures within but the risk that you may take a bath on some items.
To me it’s a good business model because it’s a highly cash business. It’s high risk and you really have to watch out for stolen merchandise. Once the people have left the store with your money if the stole it, you’re screwed! It’s also a good business model because it thrives in hard times and bad neighborhoods. I have never seen a pawnshop close their doors or go out of business!
If you are into antiques and hard to find items it might very well be a good business to check out. The best way to learn a business is from the inside out, meaning try and get hired, learn all you can and get promoted. As a business person or someone who is self employed it’s hard to get a real job, employers don’t figure you will stay at a job knowing you can make more working on your own. However if you have a wife or a kid of working age there is no reason they couldn’t take the job and tell you all the details. In fact with that second or third person available there is no reason they couldn’t hop from job to job doing recon for you whenever you look at a new venture. After a while it might be hard for them to get a job but they can always work with you.
They could be paid as an employee and paid again for the information they provide like a spy which is basically what they would be. You may also be able to hire a employee already working at a business to release the information by inviting them for coffee and testing the waters. First you want to find out the information as to their relationship with work, are they the bosses son? (BUSTED). Second do they know much about the business, if both of them check off, ask if they would be interested in going for supper, your treat.
If they ask why just say because I’m fascinated with the business and wouldn’t mind learning a little more about it. If they accept you most likely have your pigeon. Have them load you up with info while enjoying a nice meal, a person like this could save you the time of getting someone else in there and learning the ropes. If it’s complicated and you can’t get all the info in one setting say I’m intrigued with the business and you still want to learn more. Would they be willing to teach you if you paid them.
backwards to the wife or kid jumping from job to job you can work out a deal
where they get information for you and in return you teach them all about your
business and offer to take them in or help them get setup on their own.
Pay Day Loans Services:
Also known as legalized loan sharking. This is a very profitable business and will remain so, again recession proof and usually opened in poorer neighborhoods. They now offer extended loans and other services, none of which I’m really interested in they are add on businesses or products. I can think of plenty less risky add on business of my own. The money is in lending money. More specifically (payday loans) until the government steps in and regulates these businesses to a lower interest rate the return on investment is unbelievable!
Usually if you borrow $100 you pay back $125 and this is the interesting factor, it doesn’t matter when you get paid. It’s due on payday. If you are on welfare and get paid once a month it’s for a month. If you get paid every 2 weeks the loan terms are for 2 weeks but if you get paid weekly this is really going to suck because once started it’s hard to pay the funds back and not need to take another loan to make it to the next payday.
Now day’s they have all your banking info and payday info so they don’t have to chase you down. If you don’t pay, you can’t borrow anymore and they take it out of your bank account. The first time they will call you at work and if you agree to pay they will charge you more money $150 for the borrowed $100. If you fail to pay they will harass you at work and start legal action but you are blackballed and won’t get a loan there again.
Strangely the payday loans admit they have more people default on car title loans and long term loans than on actual payday loans. Anyway you slice it, there is huge money in being a legit loan shark! Even after you factor in the risks, I’d say wipe out all the higher risk products and just offer payday loans from another business. It would be a great add on for a bar business or a corner store. Imagine if 7-11 offered payday loans, how big a success that would be. This is a service industry where customers come to you and you are just providing a service. There is no real product, the money you make is pure profit, it doesn’t get better than that!
The only way I could find a better money making service than payday loans is if I could some how convince people to pay me $25.00 for shaking my hand, that would be a cool trick too. Actually it’s hard to believe some of these businesses are even legal.
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