According to Cash Plus, Inc. (See www.cashplusinc.com) President Craig Wells, there are 155 million Americans who fall into the category of the “underserved.” They are the masses who live from paycheck to paycheck, a place that many of us (myself included) have been before. Since these consumers may not have perfect credit that enables them to apply for loan products from traditional banks, banks don’t make much effort to extend their services. Wells sees that as a boon for the payday loans industry, which is why he founded the Cash Plus franchise.
Bringing Americans under served by traditional banks the royal treatment
Based in Tustin, California, Cash Plus aims to treat their customers with respect and “go the extra mile.” That’s where their trademarked “Kings & Queens” service comes from: a desire to provide consumers with the financial services they need. Those services include payday loans, payday advance loans, check cashing, money orders, wire transfers and more (See www.cashplusinc.com/our_services_06.html). Kings & Queens service is geared to satisfy customers and stoke the desire to return and spread the word.
A diverse customer base
Nearly any payday loan company can provide the necessary data to counter claims that they prey upon at-risk fringes of society. That simply does not paint an accurate picture of those who are underserved by traditional banks. As Cash Plus reveals, the average income for their customers range up to “$70,000 and beyond,” and they are “ethnically diverse… trying to capture their piece of the American dream.”
Most don’t earn $70,000 per year, admittedly. Established families with steady employment use Cash Plus services. These families fall within the group that Cash Plus labels “55 percent of Americans who live paycheck to paycheck.” Making life easier for them during times of trouble is something in which Wells and the Cash Plus family take pride.
CashPlusInc.com analytics
Compete.com tells this story of the Cash Plus franchise: their online business is secondary to brick-and-mortar. January 2010 numbers indicate 1,831 unique visitors to the site (of 1,986 total visitors). Both figures mark a 60-plus percent increase over traffic from December 2009, however. While specific numbers are considered too small to gauge by Compete.com, top referral sources to CashPlusInc.com include citysearch.com, gamevance.net and, of course, google.com. It’s not so difficult to measure the top search terms that lead to the Cash Plus Web site. “Cash Plus” grabs 27.39 percent of traffic, while “money orders in San Bernardino” (20.39 percent), “money orders Burbank, ca” (14.23 percent) and the standby of “payday loans” (13.04 percent) round out the field
Want to be treated like a king or a queen? Try Cash Plus!
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