Payday advance centers are the convenience stores of the financial services industry.
Convenience stores are designed to sell one or two small items at a time and charge much more than a supermarket – they offer a small selection of brand choices for the consumer.
A great example is instant coffee! If you run out of instant coffee and go to a convenience store, you will find only one or two brand selections, available only in 2-ounce jars. The cost is $2.95, or $1.475 per ounce.
You can go to the supermarket and find a large selection of brands and choices in 12 oz. jars at a cost of $5.29, which is only .44 per oz.
$2.95 $5.29
$1.475 per oz .44 cents per oz.
Why would anyone pay 335% more for coffee?
The math: 44 x 335% = $1.474
The Answer: CONVENIENCE
