Cash Now Franchise Completes Master Franchise Takeover
Posted on: 24/08/2006
Cash Now Corporation vends in the Australia master franchisor with 21 retail stores.
Cash Now Corporation (Cash Now) announces that it has completed the 100% takeover of our Australian and New Zealand Master Franchisee. Cash Now Pty Ltd has operated in Australia for 3 years and has experienced outstanding growth in the Payday Loan and Cheque Cashing franchise market with 21 stores now using the Cash Now system.
The growth prospects for this market are outstanding with less than 100 stores of this type operating in a market in Australia and New Zealand of around 24 million population.
Australia has adopted this style of lending with enthusiasm and Cash Now is perfectly placed for the next stage of this growth. Whilst the industry in the US and Canada is extremely large, Australian and NZ is in its infancy. John Falting Cash Now's President of Cash Now Pty Ltd adds we have been pioneers in educating the market, and look forward to a long and established Payday Lending and Cheque Cashing development in a market that is ripe for this product.
The royalties licence and franchise fees generated from this growth will form a major revenue stream for Cash Now Corporation over the next five to ten years.
Cash Now Corporation (CHNW.PK), a pioneer in the Internet payday loan and check cashing industry, and is developing the most comprehensive menu of services in the cash advance industry, all centred on the Cash Now brand. The company's proven business model includes licensing to corporately operated joint venture locations across the U.S. and Canada and UK. Additionally, Cash Now's website is one of the most advanced payday lending portals in existence, offering key insights to clients and potential clients alike - as well as the ability to complete payday loans on-line, via a phone call or in person.
Cash Now offers a Payday Loan License program, Payday Express; a Payday Loan and Check Cashing License known as Check Express and an Authorized Agent Program for existing retail establishments; and a host of related financial services for small and medium-size businesses. Cash Now with its web based and focused outlook has won the Golden Web award in 2001, 2002, 2003 and 2005. In 2005 Profit Guide magazine ranked the Cash Now Group 10th in its list of the 50 fastest growing and most promising emerging companies. In 2005 Cash Now was ranked (#)44 out of top 1000 fastest growing franchising companies by Entrepreneur guide.
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