Brothers-in-law team Hank Richards and Rick Snell decided to go into business for themselves after being affected by downsizing in their respective companies. Snell heard that Northside Pawn owner Robbie Whitten in Phe0nix City, Ala. was looking to expand his business and the idea took off from there.
The Money Mizer Pawn Shop opened in March 2010 at 1027 B-Opelika Road in Auburn, Ala. and has experienced great growth in spite of the recession according the The Corner News. Richards says the best selling items are electronics and firearms and there are some more unique items that pass through the shop including war memorabilia, football rings and even a book of old currency. Future plans may include expanding to an additional location in Alabama. Richards adds, “We don’t yet have one year under our belt, and we are real pleased with the progress.”
Money Mizer currently has three corporate-owned locations in Columbus, Ga. and Phenix City and Dothan, Ala., in addition to the franchised location in Auburn, Ala. The chain expects to sell 10 to 15 franchises in 2011, with 150 locations open by the end of 2015. Prime territories include cities with populations of at least 50,000, as well as college towns and military bases.