The Chamber of Pawnbrokers of the Philippines Inc. (CPPI), along with Globe myBusiness, held its annual midyear conference last May 19 in Cebu City, with the aim of looking beyond the challenges confronting the pawnshop industry today.
During the event, pawnshop owners from across the Philippines were given an update on the latest regulations, trends and innovative solutions, which they can use to improve their business.
First from the event’s lineup of speakers is the Joint Anti-Bank Robbery Action and Cybercrime Coordinating Committee (JABRACCC), which spoke about security measures pawnshop owners can apply to their businesses.
Meanwhile, the Bangko Sentral ng Pilipinas (BSP) was also in attendance, speaking on new regulations concerning the pawnshop industry. Discussions on the prevailing market culture and how it can affect entrepreneurs were also done during the program.
On the other hand, AdSpark, a digital and mobile marketing solutions company fully owned by Globe Telecom, likewise graced the event, speaking to pawnshop owners about how they can use digital marketing to their advantage in today’s Internet-savvy world.
The event was well-received by pawnshop owners, who have seen the conference as an opportunity to connect with other entrepreneurs. Also, they saw it as a chance to learn more about new technologies and explore how they can use it for their business.
Here are some attendees speaking about their takeaways from the event:
Danny Co used to work in the banking and aquaculture industry before starting his own pawnshop, which began operations in Cebu in 1994. He shared that being hands-on and knowing when to delegate work is essential to how he operates his business.
Danny also highlights the importance of using technology and solutions in improving his business. After hearing one of the event’s speakers, he expressed openness to trying out digital marketing, which can further his customer reach online.
One tip he wanted to share with business owners is: “On technology, you should be open to anything. Especially at this time, we should be abreast on technological tools and gadgets at its best and research well.”
Maryann Padrilannan was an employee in an electronics company before she started her own pawnshop in Calamba in 2008. After years of hard work, her pawnshop now has 17 branches across the province of Laguna.
Maryann pointed out that researching, especially in using technology for your business. According to her, her team’s research efforts led to the creation of SMSP’s website and social media page, and the use of cloud technology for better operations. Still, she admits they need help in maximizing their digital assets.
“We have more than 4,000 customers per month, but 4,000 more could be looking for our services in other locations. That’s why we are looking for ways to use technology in reaching out to more people. We want to smoothen out our processes and pour our best efforts in digital marketing after,” Maryann says.
Initially a professor by trade, Geraldine Sangao started a pawnshop business with her husband, after securing funds and training with TESDA’s Technology & Livelihood Resource Center Livelihood Training (TLRC). From that point onwards, the Milova Pawnshop grew and is now located in six different locations.
With multiple branches under her care, Geraldine emphasized the importance of having a strong and reliable Internet connection. With Globe as Milova Pawnshops’ connectivity provider, it was able to improve inter-branch operations and communication.
“The Internet is vital to our operations. You need a great Internet provider to be able to operate and partner with big companies like Western Union. Since the beginning, I’m happy with Globe’s level of customer care and service,” Geraldine says.
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