Trade has been a vital organ of commerce around the world for centuries. Modern business is primarily focused on accepting cash in return for goods or services, but Cash Converters is keeping the full potential of trade alive and making a success of it even in times of recession and economic uncertainty. We are so much more than just a retail franchise, and here is why.
Multiple revenue streams
One of the most interesting benefits of investing in a Cash Converters franchise is the multiple revenue streams not present in conventional retail franchises. These include retailing second-hand goods, pawnbroking, as well as short-term loans against a customer’s next salary. With all these options there will never be a dull day, and something new will always come through your doors.
What makes this approach an innovative reason to join the franchise is the fact that it forms part of a recession-resilient business model. Even in tough economic climes, this multiple revenue stream approach always leaves you with a source of income and a way to attract customers who would otherwise not be able to do business with you. To top this off, as part of the turnkey Cash Converters franchise package we extend to you a one million rand line of credit to help grow your payday lending portfolio.
Proven Cash Converters franchise success
Numbers do not lie, and ours prove our success. In 2016 alone, 73 Cash Converters franchise stores processed over two million transactions and generated an annual turnover of 1.1 billion rand. And so far the year 2017 has shown further turnover growth and the addition of more than 12 new stores to date.
A growing industry
Many South Africans have DStv at home, and have stopped their channel hopping to watch shows like Pawn Stars or Hardcore Pawn. These shows are centred on the day-to-day business of certain pawnbrokers in America and have built up a lot of exposure for the industry, as well as going a long way to removing the negative stigma around the industry. Many fans of the shows can now see the industry as not being a way to take advantage of desperate people.
Although the point is not to take advantage of anybody, the industry is also growing because there are so many people in need of money. Whether they just want to get some extra money for something they no longer need, or if they need to take out a loan against their valuables to get by for the moment and redeem their item later when they pay back their loan, the South African economic climate has left many people in need of extra cash flow. That means that pawnbrokers will always have customers.
Grab hold of the opportunities of this long-standing and still growing industry. Contact us to see about opening up your very own Cash Converters franchise store, and reap the rewards while also becoming a trusted, safe place for people in your community to loan cash.