Pawnbrokers could spread like Starbucks

amcluesent

Pawn shops could spread across Britain's high streets at a similar rate to coffee chains like Starbucks

"John Nichols, chief executive of H&T Group, said the industry was expanding rapidly as its image becomes more mainstream. The company, which currently has 106 stores in England and Scotland, plans to more than double its outlets within the next five years.

His comments came as the group posted a 36.5 per cent rise in pre-tax profits, helped by its expansion programme, new customers, and the rising price of gold. Mr Nichols said H&T had "very strong" opportunities over the next four to five years and aimed to grow to around 250 stores in that period."

"I have put an end to boom and bust." - Clown

Cleaver

amcluesent wrote: »

Pawn shops could spread across Britain's high streets at a similar rate to coffee chains like Starbucks

"John Nichols, chief executive of H&T Group, said the industry was expanding rapidly as its image becomes more mainstream. The company, which currently has 106 stores in England and Scotland, plans to more than double its outlets within the next five years.

His comments came as the group posted a 36.5 per cent rise in pre-tax profits, helped by its expansion programme, new customers, and the rising price of gold. Mr Nichols said H&T had "very strong" opportunities over the next four to five years and aimed to grow to around 250 stores in that period."

"I have put an end to boom and bust." - Clown

This is just another though boom isn't it? They grow 250 stores based on a real surge in people actually selling and buying second hand stuff as they don't feel as wealthy. But just like the Starbucks trend, when the economy changes in a few years, they'll have 250 stores that won't be needed, surely?

Interesting article though. I would love to see how much busier eBay have become in the UK over the past 12 months.

PasturesNew

Why do people assume Starbucks is everywhere ... it's not. I only saw my first one just over a year ago ... and I've still not been in it.

PasturesNew

Cleaver wrote: »

I would love to see how much busier eBay have become in the UK over the past 12 months.

Busy enough in the UK to have the UK's first ebay millionaire last week:
First eBay millionaire

chucky

amcluesent wrote: »

Pawn shops could spread across Britain's high streets at a similar rate to coffee chains like Starbucks

"John Nichols, chief executive of H&T Group, said the industry was expanding rapidly as its image becomes more mainstream. The company, which currently has 106 stores in England and Scotland, plans to more than double its outlets within the next five years.

His comments came as the group posted a 36.5 per cent rise in pre-tax profits, helped by its expansion programme, new customers, and the rising price of gold. Mr Nichols said H&T had "very strong" opportunities over the next four to five years and aimed to grow to around 250 stores in that period."

"I have put an end to boom and bust." - Clown

the whole sector is booming.

their share price shot up this week to around 180p, they're expected to hit 260p by the end of the year according to some brokers.

Cleaver

PasturesNew wrote: »

Why do people assume Starbucks is everywhere ... it's not. I only saw my first one just over a year ago ... and I've still not been in it.

There's a street corner in Manchester where you can stand (I don't make a habit of standing at street corners I should add) where you have a Starbucks 2 metres behind you and you can still see another Starbucks about 300 yards up the road to your right and yet another Starbucks about 300 yards up the road leading straight on.

Having three of the same businesses within 1/4 mile of each other is 'everywhere'. There's no real need for it.

Mozette

Cleaver wrote: »

There's a street corner in Manchester where you can stand (I don't make a habit of standing at street corners I should add) where you have a Starbucks 2 metres behind you and you can still see another Starbucks about 300 yards up the road to your right and yet another Starbucks about 300 yards up the road leading straight on.

Having three of the same businesses within 1/4 mile of each other is 'everywhere'. There's no real need for it.

I've heard this is the way they operate; they keep opening until the point where they've nicked all the local trade, then start nicking trade from themselves and it's survival of the fittest.
Prefer Costa, and a cup of tea at that.

PasturesNew

Are they all Starbucks owned? Or are they individual franchisees?

Zagu

PasturesNew wrote: »

Why do people assume Starbucks is everywhere ... it's not. I only saw my first one just over a year ago ... and I've still not been in it.

"Update: 162 is the new high (from the top of Regent’s street in London)."

That's within a 5 mile radius. I would provide a link, but there are a few expletives.

Cleaver

PasturesNew wrote: »

Are they all Starbucks owned? Or are they individual franchisees?

I might be wrong on this (fc123 will certainly know) but I think they are all Stabucks owned and I'm a bit sure (but only a bit) that part of their business plan is to always purchase, where possible, the building that they are in. So they own, or have mortgages on, a hell of a lot of property.

I might be completely wrong though, like most of the internet.

Cleaver

I was just curious, so had a quick look on Google Maps. Seems there are 14 Starbucks within the city centre of Manchester, which I imagine is around 0.75 square miles or so.

Presume these will all be Cash Converters soon enough if the original article is correct.