Lino Quintal, Cash Converters Parow Franchisee
From employee to franchise owner
Name: Lino Quintal
Franchise name: Cash Converters Southern Africa
Taking the leap from full employment to becoming a franchise owner is always a daunting step that requires lots of research and planning, and of course pure gumption. However, when you’re an employee of the franchise head office, your day-to-day work gives you great insight into the franchise model. Lino Quintal was a Cash Converters Regional Operations Manager before buying his first Cash Converters franchise. We chatted to him about his journey:
How long have you owned your franchise?
I bought the Parow Cash Converters almost five years ago. Prior to that, I worked at Cash Converters from 2007 to 2012.
What made you take the leap from being employed to becoming a franchise owner?
I wanted to be financially independent.
You were a Regional Operations Manager at Cash Converters? Would you say your in-depth knowledge of the brand has helped you along the way?
Yes, most definitely. When I lived in the UK, I started working for Cash Converters, at various outlets. When I came back to South Africa, I became a regional manager. This experience helped me understand the franchise model and I saw many real-life examples of how a franchise can succeed if they follow the best practices outlined in the franchise model. It also helped me identify problem areas and how to overcome them.
Did you do any research into other franchise models/opportunities? Why did you ultimately choose Cash Converters?
I have actually been in franchising for about 20 years but my previous experience wasn’t entirely positive. I had bought into a franchise where the franchisor went bankrupt, which was a hard pill to swallow because a lot of money and many years were wasted.
This experienced made me determined to find a model that would be resilient in tough economic times. After working at Cash Converters for so many years, I believe in the model. In these times, people need affordable options and we offer that through our previously owned goods and financial services.
Do you have any advice for people looking to becoming a Cash Converters franchisee?
Follow the model and apply the best practices. Concentrate on the training and learn from others so you don’t have to ‘pay school fees’.
How has your life changed since becoming a franchisee? What are the benefits? What are the challenges?
The benefits are most definitely the financial reward, the independence and the freedom to decide your working hours. There are also great advantages to being part of a large, international, growing brand. The more the brand grows the more valuable your business becomes. It keeps you top of mind and inspires confidence in the consumer, and that’s what makes Cash Converters a good investment.
As with any franchise, the stress levels can be high. It’s up to you to ensure your business stays profitable. To help manage the stress, make sure you build a good team. My wife and I have a great team in place, but we are still involved in every aspect of the business.