Cash Crusaders is Confidently Reaching Targets in Tough Economic Times
Cash Crusaders Franchising (Pty) Ltd has grown into South Africa’s largest dealers in quality second-hand and directly imported goods, with an emphasis on electronics and sound equipment despite the current economic conditions of South Africa.
A study, Retail Trade sales Forecast for SA 2014, compiled by the Bureau of Market Research, indicated that dealers in appliances, furniture and electronic equipment appeared to have had a better year in 2014 than operators in other lines.
Cash Crusaders Franchising (Pty) Ltd announced that the group’s turnover for 2014 exceeded the R1 billion mark for the first time, with sales of new goods as main contributor. Interestingly a share of 57% new good can be attributed to the success with DJ and musical instruments.
Apparently in tough economic times buyers prefer new to second-hand.
Sean Stegmann, CEO for Cash Crusaders Franchising (Pty) Ltd is proud and pleased with the group’s resilience and consequent success in a year with less ideal economic conditions. This can be accredited to:
- inventory control,
- and their 3-profit-center model
A few key elements for a successful festive campaign in 2014 included:
- Strong brand positioning,
- well-developed Private Label brand offerings
- and sound alignment between franchisor and franchisee.
The group is planning to increase the number of franchises to a total of 193 by adding 20 new outlets this year. They are confidently aiming for their 200-store target in the near future. Multiple store franchisees are currently outnumbering the single store franchisees.
Cash Crusaders will also be giving e-commerce opportunities a closer look this year.
Here is some insight on some of their upcoming plans:
- Online sales – allowing customers to reserve items online and then collecting or having larger ones delivered
- Online lending service