The Associated Press ran another story this A.M. regarding the purchase of 39 pawn shops by Cash America International Inc.
Their headline reads:
Cash America buys pawn shop chain for $70M
They went on to write, “Cash America’s first-quarter profit rose 34 percent on a revenue increase of 17 percent, helped by higher revenue from its cash advance business.”
So… the big, sophisticated guys and, from what we hear, many of the small players operating under the radar, continue to expand to increase market share and to achieve record profits. It appears they’re certainly not sitting on the side lines at this juncture in the economy.
Read the original Article here:
Cash America continues to grow and prosper…
“The profits are huge in this industry.”
Well, as Logan Pearsall Smith said, “”Most people sell their souls and live with a good conscience on the proceeds”
The profits are huge in this industry.
These guys get bigger and bigger! I started a payday loan store in Waco 3 years ago. I thought I was doing good having 8 today. I’m still small potatoes…