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Cash Converters
we buy we sell we loan cash

FASA Member
Yesterday, today and tomorrow
Since Brian Cumins founded Cash Converters in Perth, Western Australia in 1984, the Cash Converters chain has grown exponentially. Today this multi-million dollar international business has more than 700 stores in 22 countries and is still growing.

Cash Converters has pioneered the transformation of the buying and selling of quality pre-owned goods, and offers an exceptional franchise opportunity that provides franchisees with an internationally proven, recession-resilient business model for achieving real wealth. Cash Converters stores offer multiple revenue streams making this a sustainable franchise that offers you the opportunity to live the life you want.
The concept under the spotlight
Whatever happens in the world, people will always need access to cash — whether they’re selling their belongings, borrowing money or just looking for a great bargain. The internationally aligned rebrand and new store design of Cash Converters southern Africa ensures that this household brand is top-of-mind when consumers choose to sell their goods or loan cash.

The Cash Converters business model is based on the principle of providing consumers in the communities they serve with access to cash through a number of different products and services that suit their personal and financial circumstances.
A Cash Converters store is divided into two distinct areas — retailing and financial services. This gives franchisees the security of three revenue streams: (1) Buying and retailing: specialising in the buying and selling of quality second-hand household goods, (2) Cash Advance: secured lending against the customer’s valuables (pawnbroking), and (3) PayDay Advance and 1 | 2 | 3: unsecured loans against a customer’s salary.

Prior to the opening of a store the development manager spends a month with the franchisee to assist with setting up the business, recruiting and training staff, and stocking the store.

The Cash Converters model requires an owner-operator franchisee with significant financial investment (a minimum of R1,3-million unencumbered), combined with a hands-on approach to running a customer-oriented business.
Consider your support
Cash Converters Training Academy has developed a comprehensive training programme for franchisees and their staff. Each new franchisee is required to attend an intensive 2-month training programme prior to opening their store.

In addition, franchisees have a dedicated local area marketing specialist team which develops individual marketing strategies, plans and elements for their store in their unique community.

Cash Converters also provides its franchisees with proprietary software for marketing and reporting as well as analytical purposes, along with a dedicated, ring-fenced full spectrum accounting service.

Do you fit the profile?
The following are some of the selection criteria that Cash Converters considers when deciding on awarding a franchise — an owner-operator, previous business experience, a trader/’smous’ mentality, a people person, a high degree of energy, initiative, motivation, and a sense of humour.
Contact Information
Contact: Ilse Murray
Phone: +27 87 820 4271
Website: https://franchise.cashconverters.co.za/?utm_source=referral&utm_medium=franchise_wharehouse
 
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QUICK STATS
HISTORY
Founder Brian Cumins
Date founded 1984
Area of origin Australia
CEO Richard Mukheibir
NETWORK DETAIL
1st Franchise opened 1996
Number of outlets 83
Available areas
FINANCIAL STATISTICS
Average store turnover R500k retail & R500k money lending
Achievable gross margins 50% +
Average setup cost R2,7 milion to R3,3 million
Initial franchise fee Included in set-up cost
FRANCHISE AGREEMENT TERMS
Management services fee 5% to 4% of turnover
Marketing fee % 4% to 3% of turnover
Initial agreement term 10 Years
Renewal term 10 Years

* Amounts quoted are VAT exclusive