When does a particular thing lose its value?
Only Jardul’s Pawnshop could surely answer that.
This discretely situated pawnshop at Pardo, Cebu City is offering an innovative style that is new to the conventional pawnshops. If you think that only precious jewelry are worthy to be placed as a collateral then better change that notion now.
Mr. Arthur Arellano’s famous Jardul’s Pawnshop accepts various items that have value and are worthy to be pawned. From jewelry, cell phones, electrical and mechanical equipment, appliances, gadgets to even second-hand yet branded apparel.
This business was a brainchild of his parents way back 1977. It was his parent’s friend who influenced them to enter the pawnshop business. Initially, they only accepted used clothing as collaterals, and then later on, they started to accept more valuable and big items. From then on, their business began to flourish.
Following his parent’s footsteps, Arthur decided to branch out and create his own business in the year 1993 with a starting capital of P250,000. The first concept of his business was “buy and sell” but it turned out to become a pawnshop. They accept anything that is valuable and still saleable for that matter, “Mudawat mi ug jewelry, power tools, appliances, bisan underwear basta brand new, anything basta valuable and saleable..”
The loanable amount will depend on the value and quality of the item pawned. With this, He even attended a three-week seminar that could enrich his knowledge on how to scrutinize the genuineness of the jewelry pawned, in the same way, out of his long-term experience into this kind of business he could readily identify if the item is fake or just a mere imitation.
Just like any other pawnshops, they would give their customers four months to claim their pawned possessions back, and after those four months of leeway they would still be given a week to settle their accounts. If they still can’t make it to the time allowance given to them, then the store would be forced to dispose the item or if not, sell it to their store.
For a long time, the business has been coping with this perennial problem of pawned fake and theft items. That is why, they would ask for the item’s receipt if possible, in order to avoid such setback.
At the age of 42, Arthur is open to the idea of expanding his business. He is planning to open a branch in Mandaue and Lapu-Lapu. However, for him, that is still a long way to go, considering that they lack manpower.
When asked about his secret of his booming business, Arthur strongly stressed the value of “integrity” that is essential to any industry. According to him, the customers are to be ensured that their possessions are in good hands. “..Importante gyud nga di nimo tikasan imong mga clients, mas mayo ikaw ma-alkanse..kay mobalik raman na nimo..” Given this kind of attitude, Jardul’s has continued to prosper and has been operating in Pardo for almost 14 years.