Launching and teething. We saw a lot of advantage becoming master franchisors rather than starting our own brand.
We knew nothing about retail and needed the best brand in its sector for the support and for reputation by association. The brand was already ten years old, and because there were bank sa cash advance regulations for pawnbroking in SA, we needed a credible brand behind us. By this time it was 1994 and the whole country was changing. I resigned from Implats in February 1994, signed the franchisor agreement on 1 April, 27 days before the first democratic elections, and we opened the first Cash Converters store in Parow, Cape Town, after two months of training.
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