A Successful Opening of a Cash Converters Franchise in Musina Mall
There’s an exciting new business on the block at Musina Mall in Musina, Limpopo. Robert Livhoyi, well known in the town for his religious and sporting activities, has opened Musina’s first Cash Converters store.
From the franchisee
“I have been in business for 20 years and this is my first franchise,” says Livhoyi. “I want to consolidate the investments I have made over that time and build wealth and assets for my family.”
Buying a franchise is an excellent way to do this, he believes, because the concept combines an excellent business opportunity with strong systems and operational support.
“This is a really effective way for me to extend and improve the business skills I have developed so far,” Livhoyi says. “I chose a Cash Converters franchise because I believe its offerings appeal to everyone across the community.”
Livhoyi also believes that the business opportunities for his franchise are exponentially increased by its location within a developing area at the gateway north into Africa. The Cash Converters franchise is currently expanding in southern Africa – recently even opening two new stores in one day. The brand currently has 78 stores, across the region.
“We are delighted to welcome Robert to the Cash Converters family,” says Richard Mukheibir, Cash Converters CEO. “All of us know how each and every one of your skills and resources are tested and polished in setting up a new store. I went through it myself opening the first-ever Cash Converters store in Parow more than two decades ago.”
Mukheibir believes franchising enables would-be business owners to grow their business skills and investment within a supportive and professional environment and guides them in avoiding common start-up pitfalls.
“The Cash Converters business model offers a three-for-one income stream for franchisees – dealing in second-hand goods, pawnbroking and micro loans,” says Mukheibir. “We are confident that this, combined with our practical understanding and systems support and training, will help Robert reach his goals – and establish the Cash Converters brand in one of the furthest corners of our country.”
About Cash Converters
Cash Converters Southern Africa was co-founded in 1994 when Richard Mukheibir (MD) and Peter Forshaw (Financial Director) bought the licence to establish a master franchise of the Australian brand, the world leader in trading and marketing second-hand goods and now the world’s largest cash and asset converter. Cash Converters Southern Africa purchases merchandise from customers, enabling them to have instant access to cash. Since 2007, it has also offered both secured and unsecured micro lending facilities to customers.
Cash Converters Southern Africa is built on a solid foundation of franchisee owner operators, guided by core values of passion, professionalism, integrity, respect and collaboration. It has already empowered more than 50 franchisees to run their own businesses and create their own wealth. Each franchise store, in turn, provides job opportunities for an average of 12 employees, each supporting about five other people. This network of businesses is supported by robust processes and systems and ongoing training programmes for franchisees and staff.
Dynamic growth of up to 20% per annum has created 75 Cash Converters franchise stores in Southern Africa (as at 1 January 2017). These stores process over 2.2 million transactions a year and have a combined annual turnover in excess of R1.2bn across all products and services.
They are part of the rapidly expanding Cash Converters International network of more than 700 stores around the world. These can be found in such diverse countries as Australia, the founding country, the United Kingdom, Thailand, New Zealand and the UAE, as well as South Africa. Cash Converters Southern Africa was a finalist for the Franchise Association of South Africa Franchisor of the Year Awards in 2014, 2015 and 2016.