Cash in with Cash Generator
Franchising in the UK is now recognised by those looking to venture into a new entrepreneurial career as a far safer way of starting a business
The UK's leading buy, sell and loan store, Cash Generator has enjoyed continued growth throughout the UK and in particular during the last 12 months has experienced a significant increase in applications from potential franchisees, many of whom are looking to operate not just one but multiple stores.
A primary example of just one franchisee that has enjoyed tremendous success with the company is Nick Bourne from Weymouth (pictured right). After extensive, initial research into the franchise industry, Nick decided upon a Cash Generator franchise stating: 'I loved the business model, the layout of the stores plus the fact the customers are considered so highly.'
In his first year's trading Nick's stellar performance saw his store turnover in excess of £1 million. As a result Nick treated himself to his dream car - an Aston Martin DB9 - commenting: 'It has involved a lot of hard work, but I'm a big believer that you reap what you sow and buying my dream car has made it all worthwhile. I love the sense of achievement I get from my business!'
Graeme Mulheron opened his first Cash Generator franchise store in Luton in 2007. After a profitable first year of trading, Graeme was able to finance his second store in Stevenage without any assistance from the bank in just 18 months. Soon after the launch of his second store, Graeme has already decided the location of his third.
Graeme comments: 'Cash Generator is a very powerful brand and with its multiple income streams can hold its ground in any economic climate. As a result it can be an extremely profitable business, one that I was more than happy to invest in.' This dedicated approach to the Cash Generator business concept and the development of the brand, combined with an unwavering focus on his long-term goal of generating an annual net profit in excess of £300,000, has without doubt further contributed to Graeme's early success.
Franchisee Dave Elwood has built up an excellent business with Cash Generator over the last nine years with a mini chain of five stores across the UK in Barry, Pontypridd, Merthyr Tydfil, Cwmbran and Hereford. Dave says: 'I was immediately impressed with the franchise offering from Cash Generator and since investing in my first franchise store nine years ago I have worked very hard to establish a good business for myself. I am my own boss and employ a number of store managers to run the franchise stores, which allows me to focus on the growth of my business. With five well-performing stores behind me I am now in the process of planning to open my sixth store.'
In what is a typically male-dominated industry, Cash Generator is keen to appeal to future female franchisees, after identifying that this area of the company is one of its most successful. Rysia McCallum is proof of a female franchisee with entrepreneurial spirit and the desire to succeed. With her first store up and running in Lowestoft and after a phenomenal start since August 2008, Rysia is confident that her projected budgets will be smashed in the first 12 months of operating.
Rysia says: 'Following such a fantastic start, I am determined more than ever to keep up footfall levels to the store and continue to secure sales, so that my personal five year business plan of opening up between four and six stores in the East Anglia region comes to fruition. I am thrilled I decided to invest in Cash Generator. It has refreshed my ambition and renewed my excitement for the future giving me something to be proud of.'
Reported by Cash Generator