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Palawan Pawnshop to expand branches nationwide

Published on 27 August 2012

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A pioneer in the pawnshop business in Palawan province, the Palawan Pawnshop is on its way to expand nationwide particularly in the islands of Visayas and Mindanao.

Bobby Castro, president and chief operating officer of the Palawan Pawnshop, said that they are planning to build at least 150 branches on the two islands this year.

“We are targeting to build at least 150 branches nationwide every year,” said Castro, during the recently concluded 27th anniversary of the fast-growing pawnshop.

The event is also the seventh year celebration of its extended money remittance service-the Express Pera Padala.

Castro said that besides the pawnshop, the company is also focusing on the expansion of its Palawan Express Pera Padala by strengthening its partnership in other remittance centers and agents such as LBC, Tambunting Pawnshop, Agencia Palaweña Pawnshop, Procure Pharmacy, Tiatong Rural Bank Inc., Merlin Pawnshop, Banko Kabayan branches, SMJ Pawnshops, SaveMore branches, KwartaGram branches, Venture locations, its franchisees and other pawnshop partners in the country.

“We have taken a long stride since our entry into the pawnshop and money remittance business, and we commit to continue offering the best products and services possible to cater to the needs of the pawning and remitting public,” Castro said.

Earlier, the Banko Sentral ng Pilipinas said that Palawan Pawnshop represents nearly 5 percent of the entire registered pawnshops industry.

To date, Castro said that their 767 Palawan Pawnshop operates Palawan Express Pera Padala in 42 provinces of the country, adding that its 1,200 pawnshop partners and agents also operate as claim centers nationwide.

“Public can now save budget through Palawan Express Pera Padala, the quickest and cheapest way to send money nationwide,” he said.

Castro added that of the said remittance agents, half of are located in Metro Manila and Calabarzon (Region 4A).

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One Comment

  1. marjun says:

    how much will be the cost of franchise of putting a business like palawan pawnshop?

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