New Middelburg Cash Converters franchise makes its mark

Business-school graduate Eric Nkosi has spotted a gap in the market and launched the first Cash Converters store in Middelburg, Mpumalanga, on 7 July 2017.  “I’m a great believer in the benefits of franchising,” says Nkosi “This is my third business, all franchises. I particularly like the Cash Converters model which offers customers affordability in these more difficult economic times”.

“I value the fact that franchises are an investment which give you flexibility – I have already sold on one of my other franchises. I also thrive on all the support and training provided by good franchises to their franchisees as well as to our members of staff.”

Nkosi has created 11 jobs for his new employees at his Middelburg store. Once this is well established, he hopes to open a second Cash Converters outlet. “I know that there is still plenty of hard work and commitment ahead in building this franchise outlet but I am no stranger to that,” he says. “As well as having run my other businesses and spent time working as a manager in the corporate world, I studied for business qualifications at the Graduate School of Business at the University of Cape Town.”

Middelburg has already reacted very positively to its new Cash Converters store, with plenty of potential customers flowing through the doors. The opening of Middelburg store will bring the franchise’s total number of stores in Mpumalanga to three.

“We are delighted to welcome Eric Nkosi and his experience to the Cash Converters family,” says Richard Mukheibir, Cash Converters Managing Director. “All of us in the company 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 Eric reach his goals of establishing the Cash Converters brand in Middelburg and helping build it in Mpumalanga.”