There is a wealth of franchises for sale in South Africa, and wealth is exactly what franchisees are chasing. Making use of franchise opportunities can be a great path to business success, especially with a franchise as successful as Cash Converters. However, you need to be sure that it is truly suitable for you.
Did you know?
Cash Converters is one of the best franchises for sale in South Africa, with 23 years of business behind us and more than 85 stores in Southern Africa and growing. Each of these stores employs roughly 12 employees, most of whom also support multiple family members. In terms of accolades, Cash Converters Southern Africa has been a finalist for the Franchise Association of South Africa Franchisor of the Year Awards in 2014, 2015 and 2016 so far.
To impress and entice possible franchisees even further, many of our stores have reported dynamic growth of 20% per annum over the past five years. Our stores are currently processing over 2.2 million transactions per year, and are generating an annual turnover of more than 1.2 billion Rand. We plan to boost this even further in 2018 with the goal of adding 20 new stores to our franchise.
What is required of franchisees?
Because Cash Converters is a successful business and franchise opportunity, we naturally have high requirements for our franchisees. These high requirements are as much for your benefit as they are for ours, because our aim is to build futures and business, not simply to make money at the risk of individuals’ livelihoods.
The first, most tangible requirement is a total investment of between 2.6 and 3.2 million Rand (a minimum of 1.3 million Rand or 50% unencumbered capital is needed, and the balance can be financed). This is a substantial investment. Before investing you need to be sure this is a viable option for you financially.
Personality and experience
In order to make full use of the franchise opportunity presented by Cash Converters our franchisees need proven business experience and should be people-oriented. Our industry is extremely customer-centric, and the better you are able to deal with customers the more successful you will be in trading with them. This is also why our franchisees need to be owner-managers who can manage their stores, cash flow, customers, staff and stock with a hands-on approach. In our experience, hands-on owner managers are far more suited to this business than delegators.
As a large business, Cash Converters has a set of values that drives our success and that of our franchisees. These values are: passion, professionalism, integrity, respect and collaboration. All of our franchisees and employees are held accountable to this system of values, and it has kept us working well with each other and our customers, and the success of these values in our business is easy to see.
Are you ready
That is, in a nutshell, what you need to consider if you want to jump into the abundant potential presented by a Cash Converters franchise opportunity. If you feel you agree with our values and requirements, and you are excited about joining our brand, then we would be delighted to meet with you. For more information before investing in one of the most promising franchises for sale in South Africa, fill out the contact form on our website and we will give you everything you need.