One of my top post on my blog is the subject on Online pawnshop in Singapore in the post I talked about an internet startup that brings Pawn Shop online. They were known as internetpawn.com. A year pass and they have rebrand themselves as Pawngo.com. They now have a video showing how the pawning process actually goes.
Like I mentioned in my previous post, we have several competitors in the pawnshop space in Singapore especially offline. But online I believe there might be some opportunities popping up. Since people are already this on forums there is no reason why it could’n take place in world of web 2.0
Maybe I should seriously start considering proposing the idea to local investors. And by the way.
Furthermore, the recent stock market have been pretty volatile, plus the talks on possible recession and if the global falls back to a recession, Pawning may be a good venture. And I believe the business model is certainly different from the negatives reviews that we have been hearing from the opening up of moneylending business. Also pawnshops take collaterals thus there is no forcing on the people to borrow or using future money as compared to those loansharks or banks.
Calling fellow Entrepreneurs who have background knowledge on the operations of pawn shops. Share your comments and who knows maybe we could work together and form a pawnnow.sg