Cash Generator continues to grow
Cash Generator the discount retailer plans to continue its expansion and develop its established buy, sell and loan franchise concept, by introducing new financial services.
Cash Generator currently has more than 130 stores in the UK and over the course of the last two years, the discount retailer has opened 54 new stores, 24 in 2010 alone.
Future expansion nationwide is expected to continue at impressive rates, with more than 20 stores already committed to from both new and existing franchises for 2011.
A national brand with a solid business model, one in three Cash Generator franchise owners open multiple stores, a testament to the high calibre of entrepreneurs investing in the franchise.
Specialising in the buying and selling of nearly new products, Cash Generator is widely seen as the eBay of the high street, perfect for browsing for a bargain.
Supporting this belief are positive results revealed from independent market research, conducted by Ipsos MORI.* Of those questioned, 89 per cent said they enjoyed visiting Cash Generator. Nearly nine in 10 visitors (88 per cent) were satisfied with their overall experience in store, with 92 per cent citing the staff as friendly and helpful. Two thirds (64 per cent) bought nearly new items, with 93 per cent saying they plan to visit the store again.
Furthermore, the latest research from Mintel finds as many as one in four (25 per cent) adults are embracing a thriftier way of living, with 12 per cent of Brits shopping more frequently for bargains at second-hand outlets.**
Renowned for its fair and transparent trading, the discount retailer has, as a result, continued to enjoy excellent trading results.
Dave Elwood arguably one of Cash Generator’s most successful franchise owners with the largest portfolio of stores, enjoyed a record year in 2010, opening his 10th store.
In line with Cash Generator’s continued growth, Dave will open an additional two new stores this year, becoming an ambassador for the discount retailer.
Dave says: “I invested in Cash Generator over a decade ago and have embraced the business whole-heartedly. As such, I have been able to expand in line with the discount retailer, reaching a total of 10 stores in 2010.”
Cash Generator requires a minimum investment of £70,000 to £80,000, with total start up fees between £230,000 and £250,000.
“I am still ambitious and plan to open two new stores in 2011, but I also want to invest further in the brand, becoming an ambassador. My aim is to inspire new and existing franchise owners to embrace the company’s continued growth, ensuring they evolve with the brand to realise their full potential,” says Dave
Reported by Rick Wheeldon
* Ipsos MORI market research, Nov 2010
**Mintel Oxygen Reports, Oct 2008