{"id":5317,"date":"2024-09-25T00:04:10","date_gmt":"2024-09-25T05:04:10","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/starting-a-business\/how-to-open-a-pawnshop.html"},"modified":"2026-04-28T12:29:00","modified_gmt":"2026-04-28T17:29:00","slug":"how-to-open-a-pawnshop","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/starting-a-business\/how-to-open-a-pawnshop.html","title":{"rendered":"How To Open a Pawnshop"},"content":{"rendered":"\n
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How To Open a Pawnshop<\/div>\n <\/div>\n<\/section>\n
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  1. \n FindLaw <\/a>\n \/<\/span>\n <\/li>\n
  2. How To Open a Pawnshop<\/li>\n <\/ol>\n\n <\/div>\n <\/div>\n\n\n\n
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    How To Open a Pawnshop<\/h1>\n\n\n
    \"Pawn<\/figure>\n\n\n
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    \n By Natalie Moritz<\/a> | Legally reviewed by Amber Sheppard, Esq.<\/a>\n | Last updated\n
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    Editorial Note: We earn a commission from affiliate partner links on FindLaw. Commissions do not affect the editorial integrity of our legal content.<\/p>\n\n <\/div>\n \n

    \n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
    \n

    This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

    \n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
    \n

    The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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    Starting a pawnshop<\/span> requires business owners<\/span> to comply with strict regulations and handle retail management. Typically, a business owner<\/span> must:<\/p>\n

    Create a Business Entity:<\/strong> Choose a name and legal structure to protect personal assets and register your business with the state.<\/p>\n

    Get Licenses and Permits: <\/strong>Obtain an EIN from the IRS<\/span>, and any necessary licenses to operate your business.<\/p>\n

    Set Up Operations: <\/strong>Secure retail space with a security system<\/span> and create an inventory tracking system.<\/p>\n

    Comply with Federal and State Laws: <\/strong>Adhere to the Patriot Act, Truth-in-Lending Act, and the Bank Secrecy Act.<\/p>\n\n <\/div>\n\n\n\n

    Form your LLC with confidence.\u202fOur trusted partner LegalZoom has packages starting at $0 + filing fees.<\/a><\/i><\/b><\/p>\n\n\n

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    \n 15 Steps To Open a Pawnshop<\/span>\n