Citizens For A Better Norwood

Monday, February 14, 2011

Ted’s Pawn Shop: “Our customers are your neighbors”

Guest blog by J. Raphael Tincher, Esq.

February 10, 2011

Dear Citizens of Norwood:

My name is Raphael Tincher and I am an employee of Ted’s Pawn Shop. This letter is a response to the letter from the West Norwood Neighborhood Association (see 2/7/11 blog below) concerning businesses on Montgomery Road. I would like to take a moment of your time to tell you about Ted’s Pawn and our business. Ted’s Pawn has been in Norwood as a pawnshop since 1984. My family has owned the business since 1970. Several members of my family currently own homes in Norwood and have since the late 1940’s.

Ted’s Pawn is a family run business and has been since its inception. We are proud to conduct our business in Norwood. Visit our showroom and you will find it to be well maintained, modern, and clean. It contains a tremendous selection of quality pre-owned merchandise. If you have watched an episode of “Pawn Stars,” you will find out that pawnshops are very interesting places. We are members of the BBB with an A+ rating, members of the U.S. Chamber of Commerce, the Ohio Council of Retail Merchants, the Jewelers Security Alliance, the National Pawnbrokers Association, and the Ohio Pawnbrokers Association.

Over the years, our reputation for fair and honest dealing has grown, as has our business. Our customer base is comprised of over 6,800 individuals from the 45212 zip code (about 34% of the population of Norwood). Our customers are your neighbors.

Why are they our customers? When people need money to pay for medical bills, to pay for car repairs, auto insurance, property taxes, or their mortgage, they can turn to Ted’s for help. Ted’s offers short term loans on items of value so people in need of money can get short term non-recourse loans, without selling their valuable possessions. At Ted’s you can walk in and walk out within five minutes with a cash loan from $5 to over $10,000.

Our business is licensed by the state and complies with a host of federal, state, and local laws. Our customers are permitted at least three months to retrieve their items. In fact about 75% do come back to redeem their articles. We do not run a credit check on our customers, and there are never any credit reporting consequences.

We provide a valuable service to our customers, but also care a great deal about the City of Norwood. After all, we do work here six days a week. Did you know that when the power was knocked out to the police station during the hurricane Ike winds, we donated a power generator to the police department? We have also provided funds to pay for the painting of the Norwood SOG vehicle, to pay for the suppressors for the SOG team rifles, to provide food at the National Night Out event, and donated a camcorder for use by the vice unit. When the Norwood Fire Department needed a DVD player to view training videos, we cut through the red tape and donated a DVD/VCR combo unit so they could view old and new training videos. We also support the Firefighter Phil program.

Since the bulk of our business is loaning cash to people in need, Ted’s maintains a police presence at our store working security details. The fine officers of the Norwood Police Department were paid $42,071 for their private security work at our business in 2010. Their presence serves to make our business and neighborhood safer. Indeed, many neighbors often stop in because they know we have an officer on duty in our store.

Our business is not what you expect. What other Norwood business offers for sale a collection of pre-owned Swiss timepieces (Rolex, Omega, Tag Heuer, Cartier & more) that rivals any “fine” jeweler? What other Norwood business has a huge selection of GIA certified diamonds ranging in price from $500 to over $50,000? Does any other Norwood business boast a selection of fine art from post-impressionistic paintings to artist signed Rookwood Pottery? Ted’s carries a fine selection of musical instruments from a rare Mateki silver flute ($1,700) to a Martin D-45V acoustic guitar ($5,500). We also carry a wide range of late model televisions, gaming systems, and other electronics all of which come with warranties.

We will be moving into the Keidel Plumbing Building, which is on the corner of Montgomery and Delaware, to better serve our customers. We purchased this building as a major investment in our business and in the City of Norwood. We will take an extremely well maintained building and make it better. You can be sure that we will continue to provide the quality products and service that the citizens of Norwood have come to expect from Ted's.

Please accept this personal invitation to visit our shop, meet our family, and see our business for yourself. If you want to learn the truth about Ted’s Pawn Shop and the pawnbroking industry in Ohio, talk to a Norwood Police Officer or stop by for a visit. We are open six days a week.

J. Raphael Tincher, Esq.
Treasurer, Ohio Pawnbroker’s Association
Vice President
Ted’s Pawn Shop
4028 Forest Ave.
Norwood, Ohio 45212