FARMINGTON — When Farmington Pawnsters opened on Front Street in 2013, Corey Boyker and Jyssica Bourdreault wanted to see if they could make a go of it.
“We outgrew the space within the first month or two,” Boyker said.
The area apparently needed a pawn shop as the closest is nearly 100 miles away, he added.
As a landlord of several rentals, Boyker noticed tenants were trying to give him things for their rent. He figured he was probably not the only landlord facing this and considered starting a pawn shop where they could get cash for their items.
After about a year on Front Street, the business moved to 184 Farmington Falls Road site of the former Luce Photography Studio where they buy, sell and give collateral loans.
“Pawn shops were the original banks,” Boyker said of loans given.
People bring in their items for cash and have 30-days to pay the amount back with interest or they can extend the loan, Bourdreault said.
The pawn shop pays a percentage of the value of the item brought in. People often pawn items, go pay their bills and come back, he said.
But, a variety of jewelry, guitars, electronics and tools are displayed and available for sale.
“Anything on the floor is ours,” he said of the items. “It is either items we have bought or ones where people have defaulted on their loan.”
Over the last two years, they have learned the business and now focus mainly on jewelry, electronics and tools. Some items sell better than others and with limited space, some things we have to turn down, he said.
But, they have also taken in cars, multiple times, Boyker said. People have to submit the car’s title and the vehicle has to stay on the pawn shop’s property until redeemed.
They will also soon have firearms. The shop has received federal approval but they are waiting for state licensing, he said.
“There is always a good deal,” Bourdreault said. “Come in and browse.”
And people do. Every day people come to browse and buy, she said.
The shop is open from 10 a.m. to 6 p.m. Monday through Friday and from 10 a.m. to 3 p.m. on Saturdays.
They can also fix computers and clean jewelry, according to the shop’s Facebook page where new items are highlighted.
People can “like us” on Facebook to see some of the items that come in, he said.
The couple are also bringing a new venture to Farmington with a Liberty Tax Service franchise, he said.
A space next to the Smoke Shop on the Wilton Road is being prepared to house the new business. They will do taxes and offer life, health, property and casualty insurance, Boyker said.
Liberty Tax Service is big in the southern part of the country but franchises are growing here, he said.
The Farmington site joins four others they own in Maine. The other sites are located in Auburn, Waterville, Oxford and South Portland, he said.
“We have a good team of employees,” Boyker said of delegating duties to cover customer needs.
abryant@sunmediagroup.net
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