My Pawnshop Essay

964 Words Apr 10th, 2013 4 Pages
Course Project
Introduction to Business (GEB 1011)

Think of a small company you would like to start. Using this company, include the following components in your finalized submittal and use them as Section Headings for formatting your submittal. Put the Section Headings in BOLD. Then your responses in normal 12 point size type and write in complete sentences.

1) Provide an Introduction of your company. Include your main product and/or service. In what country and part of the world is your company located? Explain why your company is located there. With the economy struggling and more and more people loosing their jobs as a major source of income I believe that providing the service of small collateral loans would be a
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For example, a video game system that was worth $300.00 two years ago may be practically worthless today. With new technology in the market and depreciation of electronics an outdated platform is not going to be in high demand. Another example would be the Blue-ray player, since they have become increasingly popular and they have a high demand in the market the DVD player has depreciated in value. Therefore if a client brings a DVD player in the store the appraisal value would be lower hence the selling price.
Taking these factor into consideration, the use of supply and demand would affect the pricing of my company and it would play a very big role because I am the one investing money on the collateral that the customer is bringing to the store, hence my responsibility is to have the knowledge to take smart decisions and to properly train the people that would be working for me to be capable to make smart pricing by using tools such, internet, blue book, catalogs and their experience.
One advantage that my company would have is that because I am targeting low income communities the $300.00 game system they could not afford would be selling for a much lower price at my store. The demand would be there still for the system but this time the used system would be price one third of the original price and there would be an option for that customer to put it on layaway and pay for it slowly something that is becoming popular on

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