Cash and Cheque Express lets franchise owners ‘Pick and Mix’
The launch of Barry Warren’s first Cash and Cheque Express has been so successful he is about to open his second after his first full year of trading
The ‘pick and mix’ franchise model from Cash & Cheque Express offers a range of eight core retailing and financial services, generating multiple income streams. Services include pawnbroking, gold buying, buy and sell pre-owned goods, payday advance, third party cheque cashing and Western Union Money Transfer.
The flexible business model allows franchise owners to tailor their own store and choose whether they want to provide just financial services or create a retail environment. Cash & Cheque Express does not dictate that the franchise owner occupies a property of a minimum size or specification.
After extensive research into the pawnbroking industry, it was one of the features that convinced franchise owner Barry Warren that Cash & Cheque Express was the right franchise for him.
Barry was initially attracted to the pawnbroking industry as he explains: “Everywhere I looked, pawnbrokers seemed to be popping up. What surprised me was how busy the stores were. It was visually apparent that this industry was booming and becoming incredibly popular. The biggest draw to Cash & Cheque Express was its flexible and affordable franchise model. There were no restrictions in terms of size of store or number of staff, which meant I had more freedom to find my perfect store.”
From signing the contract, it took Barry just eight weeks to start trading after he had found suitable premises in Edmonton Green. The Cash & Cheque Express brand fitted in perfectly with the new store and transformed the premises into a fresh new retail environment.
“During the fit out, the shop was already causing a stir in the community,” says Barry. “The franchisors experience in locating the right site backed up by demographic research was already evident as so many people were showing an interest.”
After just three months, Barry’s business was breaking even and due to the success of the business, he is set to open his next store and well on the way to his goal of running four or five Cash & Cheque Express stores. For Barry, the Edmonton store is testimony that the Cash & Cheque Express franchise model works and has even exceeded his expectations.
The Cash & Cheque Express franchise offering includes ongoing support and extensive training. Franchise owners are expertly guided through the site planning process and provided with a complete store design to create a bright, modern environment in line with the Cash & Cheque Express brand.
To date, Cash & Cheque Express has 15 stores across the UK and is rapidly growing with many others in the pipeline.
Reported by Fraser McKay