Today we’d like to introduce you to Moris Adato.
Moris, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
I started working at my dad’s pawnshop at 15 years old, and I started from cleaning bathrooms and moved my way up to cleaning gold. Whenever I needed money to go anywhere, my dad would tell me to go work at the pawnshop. He would give me things to fix or sort, or check the pawn loans. I had to work for my money, and that’s how I learned about the essence of hard work.
After that, I went to the Gemological Institute of America, where I earned my G.G. and worked for jewelry stores like Robbins Brothers, Zales and a couple of others. Then, I worked with a gentleman selling diamonds wholesale. He taught me about diamond cutting and polishing, and the wholesale diamond industry. Then I went to my own wholesale diamond business, importing Canadian polar bear diamonds from Canada during the whole blood diamond scandal. My company was called More Gemologists. I would import those polar bear diamonds. I would also do appraisals since I graduated from GIA. That was the gemological aspect that would actually pay for my rent. Then, I went back to pawning, and I decided to open up my pawnshop.
My first equity lender was my father. It wasn’t a free loan because it cost me some money. It was my first loan, which let me open up my first pawnshop, which is CashCo Pawn Shop. About a year later, I invited my brother to join the business and he became my partner. We proudly grew the business up to 30 employees. I bought my brother out of the business three years ago, as he went on to become a business coach for pawnbrokers. Now, I’m the sole owner of CashCo Pawn Shop alongside Ediz Benaroya as vice president. I am proud to say we’ve been in business for 19 years.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
The biggest obstacle was always finding money. Private investors were always the way to go. Since I had a great reputation in the industry and within our community, I had quite a couple of investors that helped me along the way with loans.
When it came to employees, there was never a problem. There was always a benefit. I would always get 110 percent from my employees because we treat them with kindness. If they made money, we made money. Since our employees are happy, our customers are happy.
Alright – so let’s talk business. Tell us about CashCo Pawn Shop – what should we know?
CashCo provides financial services that help lift financial burdens through unparalleled customer service and community involvement. As the leading San Diego County pawnshop, we serve the financial needs of the community through pawning, buying, selling and appraising. We always treat employees with respect and kindness. We also pride ourselves in having gemologists on staff.
Employees and customers are always very happy with us because pay more than other pawnshops. That is something that sets us apart. We always give more for what you pay and charge less, which is how we became a leader in lending in the industry. I am also very proud that I sit on the board of directors of the California Pawnbrokers Association, which differentiates us as a leading example in the industry while helping fellow pawnbrokers uphold industry standards and laws.
Any shoutouts? Who else deserves credit in this story – who has played a meaningful role?
I’m always proud that we can help people. I don’t have a proudest moment; it happens on a daily basis when someone comes in here and thanks us for helping them in a time of need. We are really proud of giving back to our communities and neighborhoods we participate in. Human to human interaction needs to be at a higher level, which happens here daily. If I’m not here daily, it’s my employees that give that same empathy to customers.
Contact Info:
- Address: 4502 University Ave, #103, San Diego, CA 92105
6251 Imperial Ave, San Diego, CA 92114 - Website: https://cashcopawn.com/
- Phone: 619-280-7296
- Email: contact@cashcopawn.com
- Instagram: https://www.instagram.com/cashcopawn/
- Facebook: https://www.facebook.com/cashcopawn/
- Yelp: https://www.yelp.com/biz/cashco-pawn-san-diego-3?osq=cashco+pawn & https://www.yelp.com/biz/cashco-pawn-san-diego-2?osq=cashco+pawn
- Other: https://www.youtube.com/channel/UCjjy5qxe-JrZ49fh_54cMrA
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