How Did Palawan Pawnshop Start? The Secret History | Bobby Castro Success Story

Bobby Castro, didn’t actually start Palawan Pawnshop. It was already around since the early 1980s. It’s more like the story of McDonald’s - where it was founded by the McDonald’s brothers but was eventually grown into the giant it is today by Ray Kroc - so in this case, Bobby Castro was the Ray Croc guy.
After starting several small businesses: selling diapers, furniture, opening a small carinderia - Castro decided to acquire Palawan Pawnshop for 40,000 pesos - not necessarily because he wanted to, but just because it was the only one available at that time.
He had no clue how to operate it and neither did his wife. Eventually, she studied jewelry appraisal but the store was earning very little in the beginning, barely bringing in around 5,000 pesos per month.
Growth was very slow, but they were growing. It started to pick up when Palawan Pawnshop started opening branches in extremely rural areas that their competitors still haven’t bothered to set foot in. They wanted to be the first to open in those towns, and it worked. Today they now have over 5,000 locations all over the country.
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⏰☀️ TIMESTAMPS
1:10 - Bobby Castro Success Story
2:30 - Bobby Castro's Circon Building
3:00 - 1st Palawan Pawnshop
4:40 - Palawan Pawnshop earnings
5:30 - Why they're successful
6:00 - Pera Padala Origins
7:10 - Palawan Pawnshop strategy
8:15 - Rise of Payment Apps
9:00 - Palawan Pay
11:00 - Palawan Pay vs. GCash
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[@Sergeipee]

This is how vlogging should be: informative and engaging! Thanks for these kinds of contents. Keep it up sir!

[@MarcelinoDeseo]

Palawan Padala is so ubiquitous I never bother to ask where it came from, until this video. Nice one, Chris.

[@mannymartinez4017]

Your content and research is amazing

[@DonnieLedesma]

Just found out through this video that they now have an app. Thanks!

[@aboogie2794]

Love this channel bro! Keep it up!

[@natnadala7496]

Took you long enough. More please.

[@360AnimeList]

👍 I want to know how cherry mobile started and how they make their products. Is it really made in the philippines or just re branded? Do they have a factory here or in china? How about myphone? Is it dead?

[@joycemerced273]

Proud Palawan Branch Assoc ❤️

[@atecha]

eyyyy im early! thanks for this!

[@maganathan27]

You are really underrated. You deserve more subscribers and followers. keep rocking.!!

[@EthicalJuan]

Thank you for you producing high quality content! We never knew we needed this ☺️ Keep up the good work! Subbed 💯

[@ravelcruz2508]

Great content as always Sir!

[@koishary7779]

Didn't realize this video released a few seconds ago, great video!

[@cheesebread4811]

Good Evening Sir Chris, Just amazing how palawan built a very very very large network.

[@kgproductions7288]

I remember watching this while stuffing myself with a whole Banoffee Pie from Starbucks

[@glaneakasi931]

can you make the brand origin story of JG summit

[@sundalongpatpat]

Kumu origins please and the rise of Filipino-made apps.

[@user-dc4fr3pk9r]

first

[@hymnraeldv3848]