For Rosemary Hipps, pawnbroking is a family affair. She and her husband Larry took over their store in downtown Florence, Alabama in 1991, following her mother’s death. “Our family businesses have been in this same building since 1977. We think we are the oldest pawnshop in North Alabama,” she notes.
As they celebrate their 30th Anniversary, pawnbroking is a second career for both of them. She says, “I’m a retired school teacher, and Larry previously worked in sales. Once I retired, after teaching 29 years, we started working here at Larry’s Jewelry and Pawn together.”
It’s never all work and no play for this dynamic duo. Larry typically starts his day with a trip to the golf course before heading to the shop. They have two grown children, born ten years apart, and three grandchildren. Their children and two of the grandchildren live within an hour drive. The third grandchild graduated from Mississippi State in 2020 and now lives in Mississippi. Before the pandemic, they enjoyed frequently traveling as well.
Speaking of travel, Rosemary fondly recalls numerous road trips with fellow pawnbroker Fran Bishop. Known for her work on behalf of the industry at the national level, Bishop has also been actively involved in the Alabama Pawnbrokers Association. “Over the years, there have been so many memorable times when Fran and I would travel to Montgomery or a conference together. There are lots of funny stories from those trips,” she recalls.
"We met at an Alabama Pawnbrokers Association convention at the beach. Our daughters were with us and barely teenagers; and now we both have grandchildren around that age. We've traveled many a mile together since and laughingly call ourselves the 'Thelma and Louise' of Alabama pawnbrokers. You know the pawn industry message was heard when a state legislator sends word from the Capitol "we got the message so please tell those 2 ladies they don't have to come back again this session."
“We were among the first to join Alabama Pawnbrokers Association right after it launched in 1989. Later, I became a Board Member. In 2007, I became President, and while in that role, I helped re-organize the Dixie Pawnbrokers Convention,” Rosemary says. She served as President until 2010. In 2010 she was awarded the John David Burleson Award by the Alabama Pawnbrokers Association. She remains a member of the Board today, focusing on supporting membership efforts.
Although Alabama laws do not require membership in a trade association or continuing education credits, the APA has a very high percentage of members among the state’s total pawnshops. When asked the secret to their success, Rosemary shared “I think we do a very good job of really communicating with our members. Whether it’s a mass mailing of a personal letter, the annual state meeting, or the Dixie, we work hard to stay in touch.”
Rosemary’s commitment to working on behalf of pawn extends beyond the borders of Alabama. In 2009, she became the first woman named ‘Pawnbroker of the Year’ by the NPA. “It was a real honor for me,” she recalls. Strong leadership is in her blood. “My mom was a real pioneer. A woman running a pawnshop in the 70’s and ’80s was highly unusual, but she did it successfully. Being a female pawnbroker has always been a positive experience for me. We have lots of customers who really appreciate a woman’s touch.”
Her favorite part of pawnbroking? “Interacting with the people who come into the store every day. Being a retired school teacher, I was used to the interaction with students, so coming into the pawnshop was a fit.”
Like most other pawnshops nationwide, Larry’s Jewelry and Pawn has seen a drop in their pawn business during the pandemic. “I think that’s going to continue for a while. Right now, we’re like everyone else, with an increase in sales and a drop in our loan balance. It’s a trend that she thinks will be around for a while. Still, she’s very optimistic about the future for pawnshops, “We really help people. We treat everybody that walks into our store with respect. They deserve that. They deserve to be listened to. I think that’s so important,” she says.
Sometimes you just have to say to the customer, “I really want to help you. Let’s see how I can do that,” she notes, “And then you have to be willing to listen.”
To learn more about Larry’s Jewelry and Pawn, visit their website https://www.larrysjewelryandpawn.com/ or follow them on Facebook at https://www.facebook.com/LarrysJewelryandPawn/.
This is a part of our Profiles in Pawn series. Do you know a pawnbroking professional who represents the BEST of pawn? Please email us at editor@pawnbrokernetwork.com!
