How to start a pawnshop business

Dozens of how-to articles existed all over the web talking about pawnshop start-ups. Why add to the clutter? For the simple reason that I haven't yet completed my main contributions for this blog, tentatively titled inside my head--'How to develop software for pawnshops?', then perhaps, 'Avoiding the pitfalls of programming pawnshops!" (because it's not as free-wheeling as you might think it is.)

Pawnshops are sprouting faster than mushrooms in markets, malls, and—before you know it—at the nearest location where your neighborhood sari-sari store used to be. In fact, this reality comes personally closer to home. My father's property that we sold to a friend, is now rented by a famous french-sounding pawnshop chain.

In this post, I will not be rethreading the wheel. Here are links to the more helpful articles I read on the topic.

How to Start a Pawnshop Business
Business Requirement Registration of a Pawnshop
How Does a Pawnshop Operate

For official info visit the Bangko Sentral ng Pilipinas web portal for guidelines and comprehensive articles about pawnshop operational requirements. You will find the DTI site useful too especially when you're a new entrepreneur. Here are a few links to downloadable forms and articles posted in government agency sites. Use Adobe Reader to view these files.

Department of Trade and Industry (DTI) Form

Business Registration Requirements - Pawnshop

Bangko Sentral ng Pilipinas (BSP) Forms

	Entity Information
	Application for Authority to Operate A Branch
	Application for Renewal of BSP Registration of Pawnshop Head Office and Branches
	Checklist of Registration Requirements for New Pawnshop
	Checklist of Registration Requirements for Pawnshop Branching
	Schedule of Checklists of Documentary Requirements
	Standardization of Pawn Tickets

A few useful tweaks

I will be converting the forms listed above to fillable versions. So far, only the 'Entity Information' form is fillable. To know more about fillable versions (and why it's cool!) you may check the related article, Bangko Sentral ng Pilipinas (BSP) Forms for Pawnshops ("fillable" version).

Official BSP Checklists

Checklists of Documentary Requirements for Pawnshop Applications and BSP-Prescribed Forms

Related Laws

P.D. 114: Regulating the Establishment and Operation of Pawnshops

Media Releases

BSP Approves New Rules for Pawnshops (May 4, 2009)