How Cash Loan Franchises Work in South Africa

Franchising is the most successful business model on earth. Cash loan franchises in South Africa are made possible by the growth in the number of micro lending institutions within the finance sector.

Head of New Business Development at Nedbank Mark Rose says: “The ever rising mobile penetration across Africa has given rise to lucrative business opportunities within the field of mobile application and internet-based functionality for franchises.”

This is line with the trend of simple online applications made possible by many micro lenders. Improvements in technology have lowered barriers to entry for many micro lending institutions- creating more opportunities for cash loan franchises.

A cash loan franchise which has created more opportunities for South Africans is Tengizak.

Tengizak:

Tengizak is a specialist provider of cash loans to clients with a low income. Micro loans offer fast cash relief for people in need of borrowing money in a hurry. Loans of up to R500 are offered.

How it works:

Once the paperwork is finalised and all amounts are paid the Tengizak franchisor will be assisted by the National Sales and Franchise Development manager and will be guided on how to initiate the first section of the branch.  This process should take approximately 3 months to complete.

The shop will only be opened once the basic sales amount of R800 000 has been achieved.

Tengizak will help the franchisor with at least 200 approved clients.

The franchisee will operate under a national NCR certificate.

What do you need to become a successful franchisee?

  • You need to be a peoples’ person
  • You need to have a strong personality with good proven managerial skills
  • You need to have good sales skills
  • You need to be a self-motivated and organised person
  • You need to be a financially and ethically sound person

Visit their website here: www.tengizak.co.za

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