Achieve Great Returns
As the owner of a multi-store Cash Generator franchise, Nick Bourne has seen his turnover increase dramatically and as a result has been able to reward himself and his family accordingly
With his two stores generating a combined multi-million pound turnover, Cash Generator franchise owner Nick Bourne is enjoying the fruits of his labour. In just under three years Nick has been able to buy a Harley Davidson Trike, three properties, including a penthouse apartment, and his dream car: an Aston Martin.
'Becoming a Cash Generator franchise owner is the best decision I have ever made,' beams Nick. 'By investing in Cash Generator's tried and tested business model I have achieved everything I ever wanted in life - I am my own boss, my business is successful and I have been able to afford to buy the material goods I used to dream of owning when I was working for Dorset Police as a Community Officer!'
Nick launched his first store in Weymouth in October 2006. 'I had wanted to run my own business for some time,' explains Nick. 'I liked the idea of investing in a tried and tested business model that was nestled in a relatively recession-proof industry, and Cash Generator ticked all the right boxes with its multiple income streams. I also liked the layout of the stores because not everything is behind glass so the customers can touch the products.'
In his first year as a franchise owner Nick's Weymouth store was phenomenally successful, which persuaded him to take over the Yeovil-based store last year. Nick continues: 'Cash Generator is a business where if you put in the hours and work hard you can achieve great returns. I was amazed at how quickly I saw a financial return on the Weymouth store and was keen to replicate this success with other stores.'
Since taking on the Yeovil store, Nick has increased its sales by refitting the shop and applying the same management and sales techniques he used in Weymouth. 'My stores continue to do well despite the recession,' continues Nick. 'This is because cash strapped customers can buy or sell pre-owned goods, cash cheques, obtain payday loans, exchange currency, do Western Union international money transfers or use the pawn broking service Cash Generator stores offer.
'I am now looking to open a third store where the site has been identified. I intend to continue expanding the business while there are still sites available. With the recession, Cash Generator's multiple income stream business model has sparked a lot of interest with prospective franchise owners - so it makes sense to buy the sites I want before they are taken!
'The obvious benefits of becoming a multiple store operator are increased turnover and the ability to take a backseat and oversee the development of the business while store managers take care of running the stores on a day-to day-basis. Another benefit is being able to bulk buy stock and transfer stock between stores.
'Getting to this point has taken a lot of hard work but it has been worth it - I couldn't have achieved this level of success without the support of my wife Catherine or Cash Generator who have been there every step of the way.'
Reported by Jess Sturman