In the Pawnshop Industry Training Is a Must

Pawnshops in the Philippines are still poised for more expansion. This is on top of the very large growth in the pawnshop industry over the last several years.  This is partly because of the demand for financial services that pawnshops provide. Filipinos who do not have access to banks and other lending institutions can go to a pawnshop and receive cash for a hard asset in a few minutes rather than trying to go to the bank for a loan.

This growth in the pawnshop industry represents new jobs, new opportunities and new challenges. For an individual looking to get started in the pawn industry this is an opportunity to get a new profession. For the owners of pawnshops it raises the challenge of making sure that their assessors are properly trained.

Training will be an important component of the pawnshop industry in years to come. An individual that has training will surely be hired to a position before one that doesn’t have training. And an individual will also surely find it easier to move into a higher position if they have the proper training. For pawnshop owners, the challenge is to make sure their staffs are properly trained to avoid costly mistakes

In today’s world, pawnshops see more electronic instruments like cell phones than in the past and less jewelry. Yet the ever rising prices for precious metals make appraisal for gold and silver just as important as it ever was. The last thing a pawnshop needs is a bad appraisal on precious metals.  This is where the training comes in.

Training is the process of developing skills in order to more effectively perform a specific task. It emphasizes achieving a certain level of skill attainment. And the goal of training is to teach someone to be able to successfully perform a procedure such as appraising jewelry for its gold content or appraising a diamond for its karat value.

Of course, training costs money.  And whether it is an individual student or a pawnshop that is paying for a training course there is always a cost benefit analysis to perform. An individual must ask him/herself will this training benefit me and, in the end, will I get more out of it than I put into it? If a pawnshop is thinking of training its staff, they must also determine if the training will add to their profit margin. In other words, no one pays for training just to spend money. There has to be a benefit from it.

First, for an individual looking to get started in a new career, I believe training in pawnshops skills is training in the right industry. The job growth is there to make the training valuable.

Second for an established pawnshop, the growth of the industry and rising precious metals prices make training a must. A pawnshop that makes incorrect appraisals is a pawnshop that won’t be around long.

This is where the training from MIM Pawnshop Skills and Services outperforms its competitors. My training is part lecture but very much a hands-on course that takes the student from the beginning to the end of a procedure. I believe in the hands-on method where the more you practice a skill the better you get at it. Some may believe that is old-fashioned but in my experience it works best. After a hands-on training course the students come away with better skills than an all lecture course.

I go over the material as often as is necessary and I am always there to guide and answer questions. I have been in the pawnshop industry my entire adult life and  I take pride in teaching the procedures that have worked for me throughout my career.  I know these procedures will work for you. Finally, I take the right amount of time on a subject and cover the points necessary to perform proper appraisals of gold and diamonds.

If you are interested in getting into the pawnshop industry, my training will help get you started. If you are an established pawnshop, training your staff with my courses will lead to more accurate appraisals that go to your profit margin.

In either case, don’t hesitate to contact me for details.

MIM Pawnshop Skills and Services Appraisal training courses include but are not limited to:


  • Tools and equipment and the art to use
  • Distinguished the different “ KARAT “ fineness in gold
  • Procedure in testing gold
  • Procedure in appraising gold
  • Formula in computing the conversion of troy ounce into grams
  • The computation of gold volume per karat per gram (loan value /market value)

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