Ok PWO, I'm thinking about opening a poke pawn shop. I have a few questions for you. ;D
For those of you who don't know, the basic idea is a loan system from me to you, with your Pokemon as collateral for the loan. I would charge interest on the amount given, and instead of having to sell your Pokemon to someone for the money, I would give your Pokemon back with you giving my money interest back.
Please Consider these questions and give feedback:
-What is a fair interest rate per: day, week, month... in example: 5% per day, 20% per week, or 50% per month. the amount, and time of loan would be discussed prior to loan.
-What would be a fair amount of time for the loan to default? I was thinking if it went over a month, but the customer would have the option to make a payment prior to default to keep loan active, Is this fair?
- Obviously I would have to set standard prices for common pokes, and they couldn't be close to full market price, as If the loan defaults I still have to make money. What is a fair loan for a Pokemon, generally I was thinking 50% of what it's worth unless its an unwanted poke (IE: S Ratata, S Zubat,S Tentacool... ect.) then it would be much lower as they're hard to sell. Remember I'm not looking to keep these pokes, these are to be returned back to owners.
-I'm not looking to spend a crazy amount of money on a single pokemon, I was thinking of capping my loan for any poke at 10m, do you think this is fair? I think most people wanting to pawn a poke worth 20m+ wouldn't be so broke as to need more than 10m at a given time.
-Obviously there would be people who are in desperate need of more money than I'm willing to loan, do you think these people would be reasonable, or get upset? I'm not looking to get into any arguments.
- Detailed Records would be recorded on my shop within a spoiler and reminders would be PM'd to customers about their loan payment being due. After a certain amount of time the loan would default, this would be stated on the agreement on my pawn shop, all customers would be assumed in agreement. Do you think people would understand if their Pokemon were lost to lack of payment? As stated before I would allow people to make a small payment to insure an extension on their loan, what are your opinions of this policy?
-If a customer defaults on a loan and doesn't make an attempt to contact me prior to the default date, the customer would be welcome to buy it at my set/auction price.
-What loyalty benefits do you think customers should receive after a good amount of reliable loans? I was thinking more money for loans, or discounted interest rates.
Any thoughts or comments are very much appreciated, I would start off small but hopefully grow and build a good customer base. Thanks for your time!
For those of you who don't know, the basic idea is a loan system from me to you, with your Pokemon as collateral for the loan. I would charge interest on the amount given, and instead of having to sell your Pokemon to someone for the money, I would give your Pokemon back with you giving my money interest back.
Please Consider these questions and give feedback:
-What is a fair interest rate per: day, week, month... in example: 5% per day, 20% per week, or 50% per month. the amount, and time of loan would be discussed prior to loan.
-What would be a fair amount of time for the loan to default? I was thinking if it went over a month, but the customer would have the option to make a payment prior to default to keep loan active, Is this fair?
- Obviously I would have to set standard prices for common pokes, and they couldn't be close to full market price, as If the loan defaults I still have to make money. What is a fair loan for a Pokemon, generally I was thinking 50% of what it's worth unless its an unwanted poke (IE: S Ratata, S Zubat,S Tentacool... ect.) then it would be much lower as they're hard to sell. Remember I'm not looking to keep these pokes, these are to be returned back to owners.
-I'm not looking to spend a crazy amount of money on a single pokemon, I was thinking of capping my loan for any poke at 10m, do you think this is fair? I think most people wanting to pawn a poke worth 20m+ wouldn't be so broke as to need more than 10m at a given time.
-Obviously there would be people who are in desperate need of more money than I'm willing to loan, do you think these people would be reasonable, or get upset? I'm not looking to get into any arguments.
- Detailed Records would be recorded on my shop within a spoiler and reminders would be PM'd to customers about their loan payment being due. After a certain amount of time the loan would default, this would be stated on the agreement on my pawn shop, all customers would be assumed in agreement. Do you think people would understand if their Pokemon were lost to lack of payment? As stated before I would allow people to make a small payment to insure an extension on their loan, what are your opinions of this policy?
-If a customer defaults on a loan and doesn't make an attempt to contact me prior to the default date, the customer would be welcome to buy it at my set/auction price.
-What loyalty benefits do you think customers should receive after a good amount of reliable loans? I was thinking more money for loans, or discounted interest rates.
Any thoughts or comments are very much appreciated, I would start off small but hopefully grow and build a good customer base. Thanks for your time!