Convert your career
Cash Converters is a world-renowned brand with more than 730 stores in 23 countries worldwide – of which 227 are in the UK. The Franchise Magazine reports on what makes Cash Converters such a successful business model.
Since its launch in Australia in 1984, the company has developed into an incredibly powerful global brand. David Patrick, Chief Executive of Cash Converters, believes it is the people at the heart of the business that are instrumental in driving its continued growth.
David said: “We have a great network of franchise stores and our corporate store presence is continuing to grow. We currently have 85 franchise owners on board, many of whom have multiple stores after experiencing great success with their first venture.”
Cash Converters franchise owner, Richard Addison, has witnessed the rapid growth of this appealing franchise model and is now the owner of two successful stores in North Wales. He was able to develop his passion for jewellery when he opened his second-hand retail store in Rhyl 13 years ago.
Out of the 227 stores in the UK, Richard’s store in Rhyl consistently delivers some of the highest sales of second-hand jewellery in the network and his store in Bangor is fast catching up.
Richard explains: “Knowledge of jewellery and diamonds was essential to growing the business, so we recruited staff with over 25 years of jewellery experience. We focus on selling quality items that are fully cleaned, polished and repaired in our on-site workshop. Higher quality items are independently evaluated, so we are able to sell them with a valuation certificate. As a result, we offer excellent customer service, advice and knowledge and this sets us apart from our competitors.”
Richard speaks highly of the extensive support and encouragement new franchise owners receive from existing partners, Cash Converters head office and the training team, which together provides the platform for a new franchise owners’ success.
He adds: “It’s encouraging to know we have the full support of Cash Converters UK. Its commitment to maintaining a robust infrastructure and significant investment in integrated media promotions has resulted in customers coming through our doors who would never have seen us as a leading high street retailer five years ago.”
One of the most comprehensive training programmes in the industry is available to all Cash Converters franchise owners. Investment opportunities start at £85,000, plus financing where security is available. As a member of the franchise network, franchise owners receive on-going support and advice, from choosing the perfect location to recruiting staff, marketing support and purchasing initial stock.
David Patrick concludes: “The wide range of services on offer in-store, including our range of extremely popular personal finance products, reinforces Cash Converters’ position as a leading high street retailer, which responds to the needs of its customers. This is certainly a great time to become part of one of the fastest growing retail businesses in the world.”