2: Family and Work/Life Balance in the Pawn Business with Moris Adato of CashCo Pawn

January 24, 2018

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Yigal Adato: 00:02 Hey everyone, my name is Yigal Adato and this is the Pawn Leaders Podcast, a podcast to help you make more money, stress less, and live an epic life all while working at the pawn shop. Alright! Hello, Pawn brokers and welcome to the Pawn Leaders Podcast today with me I have an incredible guests, a third generation pawnbroker, a graduate gemologist, the founder of CashCo Pawn, Entrepreneur, founder of Cal Gem Labs, my ex partner and my brother Morris Adato. Morris welcome to the show.


Moris Adato: 00:40 Thank you. Thank you so much for having me on.


Yigal Adato: 00:43 I’m so excited to have you here. It’s one of the first episodes of Pawn Leaders and I knew you were the first guest I had to call on because you’re my brother and my ex partner.


Moris Adato: 00:53 I’m honored.


Yigal Adato: 00:54 Cool.


Moris Adato: 00:55 Amazing.


Yigal Adato: 00:55 So, I want to talk to you about pawnbroking obviously and some things that you do in the pawn world. But first, tell everybody how you got into the pawn business.


Moris Adato: 01:06 Well, a long time ago I was just working for sales, doing door to door sales and Oh God, working at Mcdonald’s and every other job you can name until my dad pulled me aside and say, hey dude come work for me. So actually, even before then I’d ask my dad for some money obviously, and he said, yeah, come over here, I’ll give you some money. He’d call me into his shop and give me a bucket of gold and said here and clean this. And after I was done with that he said, here’s a broom and sweep this. And here’s a mop and mop this and there’s your money. So, I kind of got into it, helping him out. And the before you knew it, I was kind of managing his large location, the largest location he had already opened up and we turned that into a, let’s say a million dollar location in about a year, year and a half? Due to the fact it was right on the border. That was my first pawn broking experience with my dad.


Yigal Adato: 02:04 So, Dad did the same thing to me. You know what, I wanted a job. He said, come clean the bathrooms and I’ll pay you. So, I’m happy that I wasn’t the only one who had to do that.


Moris Adato: 02:12 Oh No, I broke the way for you.


Yigal Adato: 02:15 So, tell us a little about CashCo Pawn, when did CashCo Pawn start? When did you start it? And what’s CashCo Pawn doing today?


Moris Adato: 02:23 CashCo Pawn started in, well, it’s been 17 years now. Open up by myself in a 800 square foot, little location, the corner of a dingy little neighborhood and worked that for a good year on my own, trying to do odds and ends trying to figure everything out as I kind of went along. And that was started from a $100,000 loan from my dad. Couldn’t have done it with my self, I didn’t have $100,000 to open up my own pawn shop. And so he lend that to me and said, here you go, you can do this now I have faith in you. Go for it. Obviously I still had him to ask questions to. And during the process, that’s where you came in. When I didn’t want to do any of the accounting, I didn’t want to deal with the taxes. I didn’t want to do with the payroll. I was, I mean it was three of us inside work in that shop. And so you come in, you know, once a week and we bought that to a, well a year into it when you jumped in that’s what I offer to you, you know, I’ll give you half the business, just take care of all the paperwork and documentation and the legal crap so I can focus on making money and doing making the deals happen. And obviously together, you know, we turned that into almost $4,000,000. Today it went down a little bit obviously. It’s almost a 3.25 and that went on with you for 17 years or 16 years until I bought you out and you went along to do this, which is absolutely amazing, I’m so proud of you.


Yigal Adato: 03:58 Thank you. Thank you so much.


Moris Adato: 03:58 We’re doing good. Last year we took a, two years ago we took a big hit when it came to inventory and other other items, but it looks like from last year and this year, we’re just like profitable and profitable and growing and growing, we have to do a couple of changes so it had to do to expenses. We have to bring down some of the staff. We had to really focusing on the work itself, not just making money year after year. So, it was pretty good.


Yigal Adato: 04:26 Nice. What would you do differently if you started a pawn shop today? From what you’ve known over the 17 years, what would you do differently?


Moris Adato: 04:36 If I started a new pawn shop today, I will not want to do it again. Not right now atleast. It’s a hard time right now, opening a pawn shop with all this, what do you call it?


Yigal Adato: 04:55 Is it like regulations?


Moris Adato: 04:55 Laws, regulations, and then you have everyone and their mother opening up either pawn shops or jewelry stores competing with you, the competition is really harsh, should I also, unless you’re already have your name on the game, it’s really difficult to start from scratch. You know, unless you buy out another pawn shop. What I would do to start off, if I had to start today from scratch, is do the same exact thing I did it from the beginning care about my customers, really show that I care about each and every customer that walks in, handshake deals like old school, which people forgot about, thank every single person that walked into the shop, make sure my books are in order, make sure I have enough funds to grow the business, location, location, location, be in the right place and I guess again, treat my customers and employees like gold, like I’ve always done most important two things inside of a pawn shop.


Yigal Adato: 05:50 Nice. Great advice. So a couple of years ago, about four or five years ago, we had, you know, gold going up like crazy. I remember because I was, there, gold was almost hitting $2,000. Everything was amazing. We were making a lot of money. You didn’t really have to focus on strategy. You just have to open the doors and money kind of walked in. You agree with that?


Moris Adato: 06:12 100 percent. That was the easiest time in pawnbroking history. If you’re looking at it was a good, I mean for people have been in an industry of a longer than that, it must have been a 20 / 25 year run on an upward scale when gold, when you’re lending at $300 an ounce and then six months down the line when the customers lost our goods, it’s at $350 an ounce. So you’re just, not only are you making your margin, we also making the rise in gold price. So, it was a no brainer. Truthfully, if you’re doing it right, you were just making money hand over fist the entire time. And then-


Yigal Adato: 06:51 So, what’s the difference now? Right? So now gold price, close that at $1,300 on December 31st. It’s not swaying up as much anymore. Now what does a pawnbroker have to do? Like you said, you took a hit a couple of years ago, now you’re becoming profitable. What did you do differently? What did you have to become that it was a change in order to hit those goals today.


Moris Adato: 07:15 Strategy, before in another way about strategy. You just let as much as he possibly could, get as many customers as you possibly can. Once the goal dropped in and we lost our butts in inventory and all the pawns that were being forfeited, you really had to wake up and be like, okay, this is not just a rat race, we’re not just trying to go straight forward the same way we’ve been. Things have to change. You have to become the go to pawn shop, you had to become the people’s friend and the uncle that they need to lend,they need to borrow money from. It wasn’t just any pawn broker can give them money and just grow. Now you have to be the most trusted pawn broker with the cleanest name with the best yelp reviews with a great instagram page, with a great facebook profile, with a great community online and offline. You have to do a lot of events in your neighborhood. Give back a lot more. We always did that, but you’re the really step up your game in that field. Not only that, we have to really be, you have to really watch your expenses and your, and how much you give out in loans on certain items. You can’t just fork over 100 bucks on $150 bike anymore because people aren’t buying it. Now you’re competing against the whole world to sell it, from offer up to Craig’s list, to facebook marketplace and dozen more things, that also goes for the jewelry. So, you really have to watch how much you give for items and really watch the strategy. Where are you going to go from there.


Yigal Adato: 08:54 So, would you say you had to become somebody else when he came to your business, the way you were doing business?


Moris Adato: 09:02 I don’t know about becoming somebody else, but you really had to become the go to pawn shop. You’d have to be the most dependable, trustworthy, transparent business owner that people can trust no matter what, there was no ifs, ands, or buts about it. You had a bad yelp review. You bet a squash that in two point two seconds, if not you lose your butt not like before.


Yigal Adato: 09:26 What I’m asking is what did you have to do as you as more as the owner, as a leader of CashCo, what did you have to do differently? Who did you have to become in order to look at those expenses in order to become that transparent in order to go from not you know, making as much money to making money and having a profit and your stores growing again?


Moris Adato: 09:48 Well, something to change there obviously between me and you. You left the company and I bought you out so I had to put on all the hats back on my head and I’m sure there’s a lot of pawn brokers but didn’t have that partner as they grew in the business, so they’ve dealt with all of it all at once. I mean, I know big names of all the pawn brokers in the industry that basically do the whole thing all by themselves and they rely on people underneath them to guide them, but in all the decisions are all their’s. What I had to become was a leader, a true leader to my employees by showing them what to do the right way, really motivate them to do the right thing all the time to never lie to them or to any of my customers, no bullshit, get it done, can’t be, just can’t waste time on just bullshit stuff that you were able to do before, now you have to be a true leader in the pawn broking industry. And that also for me, I had to show my employees how to be a leader by showing other pawn brokers on how to do things that I’m sharing my education and giving back to the younger pawnbrokers or even the older pawnbrokers, you know, what I’m doing right. you know, I have people calling all the time, hey Morris, how do you do this or how’d you get that done? And by showing my employees, especially that the upper level employees that I’m a true leader and I care about them more than anything. And I care about my employees, more than my customers more than anything was truly important. It’d be completely transparent and trustworthy.


Yigal Adato: 11:35 Yeah. If I go back in time, I remember we would have meetings every single month with the employees and we take them bowling into concerts and we really built this culture where they loved coming to work. It wasn’t just about the money, but they loved who they worked for. They loved CashCo and they loved what we stood for, which was caring about our customers.


Moris Adato: 11:58 You know,one of my biggest achievements was, I don’t know if you

remember when one of our employees quit because he was just like, oh yeah, I got offered by the competition, I won’t say the name right now because probably watching, but yeah, I went to the competition for like $2 more an hour. And I was like, dude, okay, that’s fine. You want to go, I’m not going to stop you if you’re kind of guy that wants to go for two hours, but he’s said like, But I love you guys. Thank you. I was going to do this with opportunity and two weeks went by and came crawling back and he was like, guys, please take me back. You guys are like the best bosses. These people yell at me and they treat me like crap. I was like, Bro, you know that. That showed us that our culture was what we needed it to be. Yes, we have to improve, maybe on pay a little bit to keep our employees and we learned that real quick, but the culture is super, super, super important. Your employees, especially the younger employees, don’t give a shit about money. They care about the pat on the back. They care about the, hey, here’s a little starbucks coffee. Go enjoy. Let me treat you to do this. Take

your wife to here. Go on a vacation for your upper level employees. You know what I mean? Here’s a couple of tickets to Las Vegas, go on with the company card. Those little things that you do for them, mean more to them than just the money. Obviously money’s a big thing, but you really can’t be a cheap ass when it comes to your employees because they are your extended family.


Yigal Adato: 13:29 So, they want recognition and appreciation as opposed to-



Moris Adato: 13:32 100 percent



Yigal Adato: 13:33 more money in their paycheck.



Moris Adato: 13:34 Yeah, I mean everyone wants more money obviously, but you don’t

always have to give a raise to make someone happy.



Yigal Adato: 13:41 Love that.



Moris Adato: 13:44 [Incomprehensible] treating them right and giving them little things here and there. No, he spent less money than a race right away, but there’ll be happier in the long run.



Yigal Adato: 13:53 Let’s go back real quick. I want to ask you, what’s been the most difficult thing for you over the 17 years of the pawn business.



Moris Adato: 14:01 Loosen you!



Yigal Adato: 14:04 You’re so sweet! It was tough! It was tough for me.



Moris Adato: 14:06 [Crosstalk] Partner right next to me I can talk shit to and I can solve problems with, but the toughest part for me actually was the, or is still the accounting aspect of figuring out cash flow for the next six months or a year, making sure we have enough money to stay open and have payroll. No, I’m not one of those pawnbrokers that are filthy rich and have a bank account and lines of credit of a million dollars sitting behind me. I melt my goal to make payroll.



Yigal Adato: 14:41 I know



Moris Adato: 14:42 You know that, we have all diamonds to make payroll happen and we’re consistently growing in the last year or so. So, it’s been tough. That’s the hardest thing I think. I’m going to rephrase that. The hardest thing has been to control my stress levels. I sort of personally, because all the other stuff I can kind of figure out and make happen. Well, I can pull gold out of here, melt from here, liquidate their but the stress level and coming home with a smile on your face is always been the most difficult part.



Yigal Adato: 15:19 In the Pawn Leaders and it’s one thing that we talked about a lot is having that balance, not coming home stressful because you’ve got so much going on in the business from the goal and the diamonds and the employees and the customers and regulations and the police and all these types of things. That to shut it off when you get home. It’s not an easy task.



Moris Adato: 15:37 It isn’t.



Yigal Adato: 15:38 What have you done in the past that’s worked?



Moris Adato: 15:42 Exercise for one is like the key ingredient to me for me, I mean just joined kickboxing again and just hitting that padding, relieving that stress has been the best thing I can do. I’m coming home and really taken off the keys off my pants and putting them down somewhere and making that my okay my worker had is off the keys or off my pants and now I’m a dad and husband again has, has recently helped because I haven’t done that all my life as recently helped in, in uh, adjusting from work to home environment because as well as anyone knows if you’re my age between 30, I’m sorry, between 40 and 50 now I’m going to 43 section. But you get home and your wife’s still needs you. Your kids need your support. Your wife needs your help and taking care of them. The homework, this know the problem is they’ve had during the day and still talking to them.



Moris Adato: 16:38 So you’re still consistently solving problems and giving love and giving energy. You can’t just come home and be out of energy. Another thing I’ve done, which has always helped his is take 10 minutes of my time in the car and literally meditate before I walk inside the house and just breathe and calm my nervous system down because our nervous system is constantly running, solving problems. And so that has helped a lot. He talks about being a dad. I’m going to dive into something that’s personal for both of us, but I remember before I left, um, that’s when Dan who was diagnosed with his Parkinson’s Dan being a second generation pawnbroker grandpa being a third year first generation pawnbroker, that hit us really hard. There were times where we just stare at the computer. We wouldn’t do much. I remember we’d say, Hey, let’s go to the museum together.



Yigal Adato: 17:28 Like we did that a couple of times or we just go to lunch. So my question is when similar that happens to a pawnbroker stressful, of family situation. When something major happens, it’s okay to just stop and, and to take a break. Right?



Moris Adato: 17:50 100 percent I think, I think we take more breaks and we needed to because we’d never got the help we needed to.



Yigal Adato: 17:54 Yeah



Moris Adato: 17:55 I think when you have a, a tragedy or something like that that really affects your personal life happen. I think taking a break in the day and leaving work to other people to go ahead and do and, or closing your store and really dealing with the situation is very, very important. we went through me and you about six months of grievance. I mean we were almost, we were so shocked that we come to work and look at our computers and beyond facebook or, or something else, you know, just to, just to kind of pass our time without working. Now, we did the odds and ends jobs to keep the business rolling. But really being creative and, and you know, thinking of the future and doing everything else, we kind of stopped that when this happened. I think anyone that’s dealing with this kind of situation should get help. I’m talking to either a life coach, psychologist, somebody to talk to and get this we had each other. We coach ourselves out of it, you know, but it took a while because none of us were experienced in coaching each other to get something out of our system. But I think, if you’re in that situation to my best advice would be get somebody to help you and don’t let it affect your personal life for too long.



Yigal Adato: 19:09 And I think that, well said I think that because we built that great culture, our employees and our managers were able to pick up the pieces that we kind of left behind so that the business would keep running



Moris Adato: 19:21 And even support us.



Yigal Adato: 19:22 And yeah, 100 percent.



Moris Adato: 19:24 All the way. I mean, we had Gloria, which, may her soul rest in peace, but she was like older sister. She really console us through these times when my dad was getting, starting to get sick and everything. And she made us feel good. You know, even while she was battling cancer-



Yigal Adato: 19:45 She was a trooper. So for those of you listening, Gloria was our manager, our general manager, who for years battled cancer and would come to work every single day. And when somebody would come into her office to give an excuse, she looked at them and say, I have cancer. What’s your excuse? And that’s it. Like every excuse went out the window because of Gloria, because you just look at her. So, you know, I, I, I think about it all the time. I think about like every time I make an excuse and how she battled being a single, single mother of three. Yeah, how she worked full time with us and how she was such a, just a great person. And she loved her customers. She loved her employees. So I think, you know, talking about Gloria having key people like, Gloria, you know right now you’ve got a team of people who support you. You know, you’ve got Dees and Leo and different managers. How crucial is having a great team for a pawnbroker?



Moris Adato: 20:45 Well, you got to realize as an owner, if you are this, the, the, the, how can I describe this? If you are the only person with the ability to run your shop, you are handicap. Because if God forbid anything happens to you and your shop has to close, you’re done. You have to rely on people to manage your shop. If you’re not there, if you can’t take a two week vacation because you’re the only one who knows how to do things and you’re the only one you trust that you’re doing something very wrong. No, that’s. I can leave now. Thank God. Because of what I’ve created here, what we’ve created here and the team I’ve created here at the end, I can literally leave for two months and the business would keep on running with zero to very minor issues which I can handle not being here. You know, because I have the guy that’s gonna take care of police legal and on those things. I have the guy that could take care of all my jewelry and other things was I trust. I have cameras in place all over the place. I can watch everyone doing what they’re doing. I have audio, video, whatever. I need to watch everybody. If I really want to run out, I just came back from vacation from a ski trip and these two guys took care of all the inventory of both stores and you know what? We have a couple of things missing. Either we’re going to find him, well, I’m going to write them off. Simple as that. Not a big deal, but the ability to, but knowing that God forbid I’m out for six months because something happens to me that’s tragic and this business can keep on going and feed my family. Oh goodness. You’re not doing that. You’re doing something wrong, folks.



Yigal Adato: 22:27 I agree. I agree with Morris if you’re not doing that. Building a team and you’re able to leave your store for a vacation. Go spend time at your kid’s ballgame or your daughter’s dance recital. Then reach out. We’ll do. We’ll get some leadership done. I get some help. You know, super important because it’s not just about being in the business all the time and some brokers have this ego that if I’m not there, things don’t work.



Moris Adato: 22:52 It’s about trust bro.



Yigal Adato: 22:54 Yeah.



Moris Adato: 22:54 It’s one of the biggest things that I don’t trust my people to do what I do because they might steal for me. If you have that in your mind, two things are happening. One, either you don’t trust yourself, okay, or two, you have the wrong people in place, so put the person that you trust the most as your right hand, like do your job and then put processes in place to protect you from that persons stealing from you, which is very easy to do, especially nowadays with all the technology in the world.



Yigal Adato: 23:27 For me, it’s helping that person who is going to be your general manager or your management live an epic life because if they live in epic life, if they have time with their family as well, then they’re going to work so hard for you. They didn’t do a great job for you. They’re going to look after the stores like if they own them.



Moris Adato: 23:44 You know my two guys when I went on vacation? No, they broke their backs doing all the inventory and I know I can see their faces. They’re tired. You know what’s going to happen next week? They’re both going to get massages at different times and we’ll get to get a paid day off because I’m gonna give it to them and they’re both going to get little vouchers for dinner with their wives or their whole families to go up and take him somewhere as a reward for letting me go on vacation. You know, I didn’t have to come back and bring him a little key chain. So yeah, I was thinking of, you know. No,it’s like you get a massage or going to day off. Are you going to a dinner here? Because you allowed me to spend time with my family. That’s what you gotta do to make their lives epic. So you want to continuously do that for you.



Yigal Adato: 24:20 Awesome. So Moris before we get into Calagem labs, because they do want to talk about that, what is one piece of advice that you would give to pawnbrokers today for 2018? Why do they need to do differently to succeed in 2018.



Moris Adato: 24:31 Hustle. Wake up, stop bullshitting and get it done. Because there’s a lot of things that you know, there are things in your own mind that you can make that can make you successful and move forward as a pawn broker, but the only thing that’s holding you

back as a bullshit that’s in your head that’s keeping you from doing it. So procrastination,



Yigal Adato: 24:55 Procrastination.



Moris Adato: 24:56 Pro – ass – tination And the, and the fear of success in that, what you’re going to do is actually going to work. There’s a lot of people have that in their head, so stop bullshitting and just get it done. Make yourself that list of things that you know is gonna. Make your cycles yourself successful in your pawn shops. Successful, and just do it. Check them off one by one.



Yigal Adato: 25:22 Awesome. Let’s talk about Calagem labs, this has been a dream of yours for a long time since I’ve worked with you side by side. For years you always wanted to open a gem lab to certified diamonds and gems and jewelry. Tell us about Calagem labs. What does it do and how can people find it?



Moris Adato: 25:40 Well, Calagem labs is my little baby from way back in the day before I became a pawn broker. I became a gemologist and because I became a gemologist from GIA, I fell in love with diamonds, gems and jewelry. I found out that most pawn brokers for years, we’re giving up their ass when it came to selling jewelry, retail or wholesale. Now, that didn’t happen to me as much. It didn’t happen to me once in a while I’d when I didn’t, put my real effort into something. But when you don’t know what you have in your hand and you sell it, trusting the person who’s buying it from you, it’s telling you the truth. I mean, it’s a 50 50 shot if you’re going to get. And you’ll never know if you undersold it or whatever. So a while back, I use another gem lab. I’m not gonna say the name, but they would, I would send these, my rings out to them in parcels of 20 slash 25 and it would cost me 25, 30 bucks each or whatever. I’ll get them back with this little certificate that would say exactly what the item was and retail placed them value, it was working because the customer didn’t trust the pawnbroker, but they did trust a third party laboratory. What I did find out was that a lot of the items I’d have to either send back or really I didn’t even have the time. I just throw away the certification because it was off, you know, they would call stones, you know, vs when it was size or size, whatever I want as a gem, gemologist know I have integrity and as a pawn broker I have to earn the trust of the community so I can’t sell something and then have them go to a jewelry store and a jewelry store. Tell them this is bullshit and some bullshit-



Yigal Adato: 27:30 Certification



Moris Adato: 27:32 Certification. So what I did was a couple of years back, we started doing our own in house and we started doing these little laminated cards, which is cute and it worked. It worked, but it was just like little certified, a laminated papers with a little signature on them, which basically they became many appraisals. Now, some joy,or some, insurance companies will take them. Some wouldn’t. What I’ve created since then is Calgem labs, the true lab and I’m still getting there because I’m now being inundated with so many certifications or requests for certifications. I need two or three more gemologists, which is amazing. It’s a great problem to have. We make them on these hard plastic cards which look very professional, full color. The item looks gorgeous. The standard by which we appraise and identify the ring and the gemstones is by GIA standards. When I say that, I mean we are as tough as GIA, so if we’re off, we’re off by a half of color or one color grade or one clarity grade not two or three, which is great for the pawn broker or the second hand dealer to use as a selling tool because they know that there is no problem or issue after the fact they sell the sell the stone. They’re actually selling it with a real certification, with a real appraisal that states how much it’s worth that states exactly what the color and clarity is. If it’s a good cut, poor cut, we’ll say right out there and a full description of the item.



Yigal Adato: 29:10 And the customer obviously enjoys having a third party certifications and they know the value and it’s got to reach over there. I’ve seen them, they’re beautiful. They’re retail replacement value on it so they know that they’re getting an incredible deal when they’re shopping on pawnshop.



Moris Adato: 29:24 What we do in our store is we have a sign that says always 50 percent off retail. So with that certificate in our store, when they see the appraisal value, we sell it for 50 percent off that. So when you sell something 50 percent off retail, you’re selling it basically a bit of wholesale. What pawnbrokers you guys well know we’re not paying wholesale for item. So you’re going to have a 50 to 65 percent margin on sales and profit, so you still have another 10 percent to negotiate or play around with. You can start from 40 percent off. You just make more money, easier with a certificate. There is no so what is this? So do I have to trust you? It says it right there. It helps your sales people identify and talk about the merchandise as well because they have the, all the information in their hand, showing it to a customer from a third party. It helps online sales. I’ve noticed that it’s so hard to sell on Ebay, your jewelry without a certification. But when you have a certification, it sounds like this. People Trust the third party, you know, they don’t trust you as a salesperson. They trust us. A laboratory stating what it is. Yes, we’re getting our name out there, you know? Yes. We’re not as known as GIA,EGL, IGI Or any other laboratory, but by next year folks to, by the end of 2018, you will be hearing of Calgems labs a lot.



Yigal Adato: 30:47 So, tell people who are listening how to find you, what the website is and, or if they want to reach out to you directly.



Moris Adato: 30:53 You guys didn’t call me directly on my cell phone anytime. Six. One, nine, eight, four, zero, zero eight, five, zero. We can go to Caljamlabs.com, and literally print out a pdf, which we’re actually working on a way to even simplify the whole process you can call me up, I can send you a little baggies for your goods so you can actually put. Oh, by the way, inside the laboratory we also offer 360 degree videos for online sales. We offer photography so you don’t have to take care of all that. We offer repairs, so replacements, refurbishing, know, bringing things back to life again we offer pro re-pronging, Rhodium plating. We offer all the repair things so you don’t have to take care of it. We have a person in house, so it keeps out. It keeps everything really, really inexpensive for the repairs. I don’t gauge, I don’t make money on the repair department. That’s just an added service that we charge for, but it’s like cost plus 10 percent to actually make it easy on the pawnbroker, sending me a whole bunch of their goods and getting things done.



Yigal Adato: 31:59 Awesome. So find Calgem labs at calgemlabs.com. I’ll go ahead and put the link in the show notes. Moris our time is up. I love you for being on the show. Thank you so much.



Moris Adato: 32:12 I love you too bro,



Yigal Adato: 32:12 Thank you for sharing your wisdom with other pawn brokers and with people listening and for those of you stay tuned for the next Pawn Leaders podcast episode and if you want to talk with some more with Morris. If you were asking some questions, I’m opening up the Pawn Leaders community on facebook so you can ask him questions about the show. Anything that he said, Morris, any parting words?



Moris Adato: 32:33 I’m just proud of you bro. You are truly making a difference in the community of pawn broking because I know you’ve been a life coach for awhile and literally jumping into this space of pawnbrokers or something you know and do very well. So if you’re out there, you’re listening to this. You’re already taking the right steps and improving yourself because by listening to this guy right here, probably call you my brother Bro.



Yigal Adato: 32:55 Thank you man. If you guys want to reach out to me and go to pawnleaders.com, if you want to go from pawnbroker to Pawn Leader and level up your leadership and obviously leadership is one of the most important thing and he changed over the course of this business to make more money. So thank you so much bro and guys, thank you so much for listening. Pawnbrokers. We’ll see you soon.

Yigal Adato

Yigal is a 3rd generation pawn broker, and is now a mentor, coach and educator with the pawnbroking industry.

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