Thriving businesses

Bronxboy

Well-known member
Jul 11, 2007
14,107
595
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We all know that the economy stinks right now.

In the US, bankruptcy lawyers are making a killing.

There are businesses that thrive when other are failing.

What types of businesses are thriving in DR while others are hurting?

Inquiring minds would like to know.
 

Matilda

RIP Lindsay
Sep 13, 2006
5,485
338
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Money lenders - interest often at 30% a month! Compraventas - people pawning all their household possessions. Sankies not doing too well atm as less tourists.

Matilda
 

Bronxboy

Well-known member
Jul 11, 2007
14,107
595
113
Money lenders - interest often at 30% a month! Compraventas - people pawning all their household possessions.
Matilda

Yep, the pawn brocker business has skyrocketed so much in the states there are tv reality shows created about them.
 

kimbjorkland

New member
Apr 6, 2011
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Yep, the pawn brocker business has skyrocketed so much in the states there are tv reality shows created about them.

I guess I'm too simple to understand how compra-venta businesses are doing well at the moment.
I mean I get that they compra things on the very cheap as people default on their loans, but don't they then have to venta things? And if everybody has financial malaria, then who's doing the compra?

Hay un maco aqui?
 

belmont

Bronze
Oct 9, 2009
1,536
10
0
I guess I'm too simple to understand how compra-venta businesses are doing well at the moment.
I mean I get that they compra things on the very cheap as people default on their loans, but don't they then have to venta things? And if everybody has financial malaria, then who's doing the compra?

Hay un maco aqui?

First, the items pawned are given loans at such a low amounts it induces the person to redeem it (Loans are anywhere from 10% of value on electronics to 50% of wholesale value of diamonds and gold). In the US, most pawn shops have a redemption rate of 75-80%. On those items redeemed, if you annualize the rate, it amounts to about 150-300%, depending on the state. If you don't redeem, they have only loaned anywhere from 10-30% of the value of the item. They don't have to mark it up by very much to make a profit on a sale.
 

beeza

Silver
Nov 2, 2006
3,479
731
113
Funeral parlours. They always make money. But I've heard it's a dying trade.
 

Hillbilly

Moderator
Jan 1, 2002
18,948
514
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Banks, beer, cigars for export, organic bananas for export, corner markets, insurance, health care all seem to be doing well, in general.

HB