Bruce Houghting – Cash Converters Pinetown and Greyville Franchisee
It’s never too late to change your life
Name: Bruce Houghting
Franchise name: Cash Converters
Location: Pinetown and Greyville
It’s never too late to create the life you want. Time is your most precious resource, and when you feel like it’s time to rewrite your story, it’s going to take bravery, faith and lots of careful planning. Bruce Houghting, owner of Cash Converters Pinetown and Greyville, did exactly that, when at the age of 60, he sold his home to buy a Cash Converters franchise and relocated to Durban.
Bruce tells us about his journey:
How long have you owned your franchise?
Four and a half years
How long were you employed at Cash Converters?
I worked at Cash Converters for about eight years. From 2007 to 2010 I was the National Operations Manager. In late 2010 I took over my first Cash Converters franchise.
What made you take the leap from being employed to becoming a franchise owner?
I have been involved in franchising since 2000, working with a lot of different franchises and also spending some time on the FASA (Franchise Association of South Africa) council. I knew from my experience and exposure to different models that Cash converters was a good investment.
I was 60 years old when I made this decision. I sold my home and everything else I had to make sure I was able to purchase the Greyville franchise. It was a brave decision, but it was also an informed decision. I haven’t looked back since and in April 2013 I bought my second Cash Converters franchise, the Pinetown store.
All in all, the decision to leave full employment to become a franchisee was a really good decision.
Would you say your in-depth knowledge of the brand has helped you along the way?
Head office knowledge and experience gave me the theoretical knowledge I needed. From there, I simply followed the model. I strongly believe that that’s what led to the success I’ve experienced so far.
Did you do any research into other franchise models/opportunities? Why did you ultimately choose Cash Converters?
I have been exposed to many franchise models throughout my franchising career and I was convinced that I was best suited to the Cash Converters model.
Do you have any advice for people who want to become a Cash Converters franchisee?
Realise that you’re buying into an existing model. Follow the model, work hard, stay involved in the day-to-day running of the business. If you do this, it’s almost impossible to fail.
How has your life changed since becoming a franchisee? What are the benefits? What are the challenges?
I moved from Joburg to Durban, so the change has been radical, but I’m really enjoying myself at the moment. I have more time to do the things I want to do. I love living in Durban.
Running a franchise is hard work, you must keep your finger on the pulse the entire time. It’s a cash driven business, so you must keep an eye on your cash flow. As I said previously, follow the model and you will succeed.