“The Cash Converters business model [750+ locations in 18 countries] offers a three-for-one income stream for franchisees – dealing in second-hand goods, pawnbroking and micro loans,” said Mukheibir.”
I spoke with a member of Cash Converter’s Team a few months ago. And recently, I received a call from “the largest car title loan operator in Mongolia.”
This is crazy! The majority of us are so focused on US consumers that we fail to pay attention to what’s going on “in the business of lending to the masses” in other countries.
Mongolia? Namibia? Kenya? Tanzania? Afghanistan? South Africa? India? Albania? Romania? Kazakhstan…? Serious, new consumer financial platforms are revolutionizing the business of lending money and money transfer throughout the world!
Look up M-Pesa for example. This service gives MILLIONS of consumers access to “bank like” services. It reduces crime in cash oriented societies and enables instant money transfer. M-Pesa even makes micro-loans to startups. [Could consumers in Detroit and several other cities use this?]
Below, is a real story about a real entrepreneur who launched a pawn/loan/second hand goods store in Namibia recently! It doesn’t matter if you don’t have a clue where Namibia is. [Hint: It borders South Africa.] I didn’t know either until a Namibian Team attended one of our “Boot Camps” in Austin in order to run a loan business. And today, they have expanded operations to the USA. Lookout, they’re buying stores here…
What’s the point? Expand your mind! Don’t focus on WHY you can’t get your consumer loan business launched! Rather, RECOGNIZE you are living in the BEST OF TIMES to be alive. You have the opportunity to do whatever you like from ANY LOCATION on this great planet!
To overcome your inertia, to BEGIN WHATEVER JOURNEY that moves you, STOP watching the daily B.S. “news.” Who cares about the latest traffic jam, car chase, protest by folks having agendas, some stupid “new” study that says daily aspirin causes cancer – until tomorrows “new” study says it doesn’t.
READ/LISTEN TO A BOOK! LISTEN TO A PODCAST!! Always be learning… Always be improving… Always be helping… BUT 1st: TAKE CARE OF YOUR HEALTH!!!
[PS: If you don’t care about the “business of lending money to the masses,” PICK SOMETHING ELSE!]
Take the new ideas that resonate with YOU & BEGIN! DO SOMETHING! START…
NOW, here’s a REAL STORY OF SUCCESS.
Windhoek-born actor, Dalton Ashikoto who plays businessman Archie Gumbi in TV hit Generations: The Legacy opened the doors to his Cash Converters franchise at the Grove Mall in Windhoek, Namibia recently.
Ashikoto, who also previously appeared as tax commissioner Stanley Gwala in the South African drama series Rhythm City said he enjoys multitasking, hence the opening of the franchise.
“My career has been dominated by the two loves of my life, performing and business,” said Ashikoto.
The acting bug first bit Ashikoto while he was studying for a degree in computer science in Nairobi, Kenya, in the mid-1990s. One of his earliest parts was the lead, Romeo, in Romeo and Juliet, a pivotal experience that ensured the growth of his new passion and eventually led him to train in Los Angeles, USA.
Even so, Ashikoto did not throw caution to the winds and became the poster boy for blended careers, bridging any gaps in acting parts with support from his business interests.
“I started with an IT business,” he added. “The holding company I established 15 years ago has now expanded to cover a range of sectors, including property development, agriculture, transportation and health and fitness. This is my first franchise and I’m already finding that it offers a great learning curve. I am enjoying the challenge and really appreciate all the support I get through this franchise model. I also believe it offers our customers real value for money, which will definitely help drive business growth.”
Ashikoto has planned carefully for success, choosing a site with great visibility and parking at Namibia’s biggest mall. He has also taken on four new employees to assist his Cash Converters store reach his goal of becoming “the best-performing Cash Converters store in the whole of Africa,” he said.
“We are delighted to welcome to the Cash Converters family Dalton Ashikoto and his experience and talent,” said 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,” he added.
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,” said Mukheibir.
“We are confident that this, combined with our practical understanding and systems support and training, will help Dalton reach his goals of high performance, diversified business interests and a strong customer base,” he said.
So, ARE YOU READY? You want to finally get started in “the business of lending money to the masses?” Here’s exactly what you need to do:
- Get a copy of our Course 1: “How To Lend Money to the Masses.”
- Read through it once; quickly. Follow all our startup directions.
- Get a loan from a real lender in the state/country YOU plan to launch in.
- Get copies of EVERYTHING!
- Reread our Course 1.
- Call me: Jer at 702-208-6736. Let’s explore…
This story originally appeared here: Economist Namibia.
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If you're worn out spending hour upon hour searching Google for consumer loan business strategies, know-how, software, licensing, consumer credit reporting, sample contracts, collection tactics, profitability, how much start-up capital you need, anticipated default metrics, and on and on and on... Our "Bible" delivers ALL THESE ANSWERS AND MORE!
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|CSO Credit Services Organization Report (Texas)
An analysis of the Credit Services Organization Model as it applies to Texas. An alternative to the Payday Loan Model.
What is a Texas CSO Credit Services Organization?
In essence, a CSO or Credit Services Organization is defined by the Texas Credit Services Organization Act (Section 393 of the Texas Finance Code) as an entity or person that provides one of the following services:
* Improving a consumer's credit history or rating.
* Obtaining an extension of consumer credit for the consumer.
* Providing advice or assistance to a consumer regarding the previous two services.
How does the CSO Credit Services Organization work with payday loans?
The CSO Credit Services Organization operates as a broker, The Texas Credit Services Organization Act (CSOA) allows the payday loan lender to register as a CSO and act as a loan broker. Thus, the CSO can make loans via "3rd Party Lenders" that are UNREGISTERED and UNLICENSED. The CSO Credit Services Organization acts as a broker for the consumer in need of funds by issuing a "letter-of-credit" on behalf of the consumer to a "3rd Party Lender." This 3rd Party Lender funds the "loan" brokered by the CSO.
How does the Texas CSO Credit Services Organization collect its 3 fees:
A referral fee for referring the consumer to the lender that actually funds the "loan." This is not stipulated by any law but is currently $20 to $30 per $100.
An application fee for filling out the CSO documents; typically $10 per $100.
The interest on the "loan;" Texas state law caps this at 10%/year.
Our 100+ page "Texas/Ohio Credit Services Organization [CSO] Report" includes a thorough description of how this model works, how to construct the loan entity & the CSO, sample agreements between the CSO and the 3rd Party Lender, sample consumer contracts & more.
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You and one employee/partner may attend
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You want to learn how to make money by lending money? You’re fed up spending hours and days with “google search” in an attempt to figure out if small-dollar lending, payday loans, car title lending, and installment loans are profitable?
Talk to an expert!
1] Request a Call; as little as $75.00 for a 15-minute call. Extend the call if you like.
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3] Connect directly with our Founders on the day and at the time you select.
4] Ask ANY question regarding the small-dollar loan industry
4] At the appointed day/time, call the conference line we provide. After our call, the charge will be adjusted to reflect the actual length of our call.
Jer and the Team at Trihouse Consulting have taught thousands of entrepreneurs the correct way to identify, evaluate, negotiate, perform due diligence on, finance, turn-around and operate payday loan, car title loan, and installment loan businesses; the business of making money by lending money. Some people think we’re nuts for doing this, but the truth is that we’re far from crazy. DOING & Teaching opens doors for us that pales in comparison to any other channel.