VOICED: Business is looking up for Pawnshops

The video discusses the impact of the U.S. economic downturn on pawn shops, highlighting how Bill Jenkins' store has seen an increase in customers needing cash for essentials like medicine. High-end items are being pawned more frequently, and the rise in gold prices has made jewelry pawning attractive. Pawn loans offer a financial option for those affected by the economy, with the average loan being $75. Florida, hit hard by the recession, has high foreclosure rates, leading to a positive business outlook for pawn shops like Bartow Jewelry and Pawn.

What has been a significant reason for the increase in customers at Bill Jenkins' pawn shop?

• The need for cash to buy essentials like medicine

• The decrease in gold prices

• The increase in luxury spending

• The rise in unemployment benefits

Which items are commonly found in Jenkins' pawn shop due to the economic downturn?

• Luxury cars

• High-end fashion items

• Antique furniture

• Electronics and musical instruments

How has the increase in gold prices affected pawn shop customers?

• It has discouraged them from pawning jewelry

• It has led to a decrease in pawn shop visits

• It has had no impact on pawn shop activities

• It has made pawning jewelry a more attractive option

What happens if a customer does not repay their pawn loan within the specified period?

• They receive a warning

• Their pawned items are sold

• They are charged an additional fee

• Their loan is extended automatically

Why is the pawn business expected to do well in Florida?

• Due to the state's booming economy

• Because of high property foreclosure rates

• Because of increased tourism

• Due to new government policies