The success story of Cash Converters started with Brian Cumins in 1984, who saw an exciting opportunity in Perth, Western Australia, to package pawn-broking and second-hand retiling services into a mainstream, professional operation that has since progressed into a globally successful franchise operation.
Fast forward to 1994 when Richard Mukheibir (CEO) and his business partner Peter Forshaw (CFO) introduced the Southern African wing of the brand.
Today, the operation has over 85 franchise-operated stores across Southern Africa. Collectively, Cash Converters’ franchises employ vaguely 1,500 employees, and by the end of 2019, will have processed over R2 million worth of transactions.
What does it mean to work for yourself in a franchising context? An owner-operator works in a proven business model. She could decide not to work too hard, and the performance of the business would reflect this. However, if she makes use of the support structures and uses her own entrepreneurial spirit and drive, the odds of her succeeding and becoming wealthy over the long term are stacked in her favour. What you put in reflects in what you take out.