A Brief History Of The Cash Shop
The story of the cash shop begins way back in 1981 When Daniel George’s father, Jimmy George found a property for Danny & Donna to live in, 49 New Road Portsmouth which happened to be next door to a business that his father had run in the 70’s: “Georges Antiques”. 49 New road was originally a two storey house with a shop at the front and was built in the 1890’s. Daniel George then purchased the property in 1983 for £10,000, and with the help of Donna’s father, John Rolfe proceeded to refit the shop to sell jewellery.
In September of 1983 Daniel George first opened the doors of D&D Jewellery (the two D’s being Danny & Donna). At the time most jewellery shops like Constads, Segalls, Dimmers and Ratners all had a huge mark-up, sometimes up to 300% to 400%. This meant that by only adding 50% profit D&D were a heavily discounted jewellers, and as such were an immediate success.
The shop had an upgrade in 1984, again with the help and skill of John Rolfe. This also incorporated a back room which was used for dealing with the trade. Business was great and the Christmas saw customers queuing out of the shop and up New Road.
In 1989 the business was closed for the 1st and only time for a six month period to have a full professional shop refit and renovation to turn the whole bottom floor into a retail outlet with a roller shutter and the top floor into a residential apartment.
There was a grand re-opening with a full page spread in the evening news and a new name, “Daniel’s The Jewellers”. The concept was a walk-in store with an assistant to help you choose an item and then the item would be ordered from the stock room, similar to Argos.
In 1990 the country was in a deep recession and business was tough. In an effort to kick start things again the business was re-branded and the new name was…
In 1994 a new and complimentary business model was added to the company, Pawnbroking, and an additional name was added to the ever growing title:
“New Road Pawnbrokers”
Time for a new shop front !!!
This time we wanted a traditional look so decided to go for an all wood effect.
Then in 1996 another business that was extremely popular was incorporated into the company, Cheque Cashing. This added another string to our bow and took us into the world of money services. Once again this proved extremely successful and we found history repeating itself with queues of people out of the shop and up New Road.
Business was booming and in 1999 we decided to expand by opening another branch in West Street, Havant. As we were now more involved in money services we decided to once again re-brand the business with a name more in keeping with our services and “The Cash Shop” was born. Both stores were thriving and more staff were taken on to cope with the increased business.
Things were ticking along nicely right up until 2005 when we received notice from the landlord of the Havant branch. He was planning on demolishing the building we were in, along with three other adjoining stores and associated accommodation above, and building new larger retail outlets with an extra level above to produce more residential accommodation. It’s 2012 as I write this history and the site is still derelict!
So there we were, a years notice before we had to vacate the premisses and a few tough decisions to make. So as the Havant branch was doing better than the New Road branch we firstly decided to re-locate everything to Havant. Then once we had migrated our Portsmouth customers over to the Havant branch we shut New Road down and then we started looking for new premises.
We found a couple in Waterlooville and one in North End Portsmouth but we really wanted to stay in Havant. As luck would have it a business associate in the same line of business and also in Havant had decided to move into other business ventures and the North Street shop became available. Due to the amount of work and expense involved in retail jewellery, we decided to concentrate purely on money services. We therefore stopped trading in retail jewellery and set the new shop up in a Bank counter format as you see it today.
Well that’s a brief history of almost 30 years, so if you’d like to keep up with news on the next 30 years, watch this space.