Follow the proven system and success will follow
With his fifth store now opened, Dave Elwood is the leading multi-site franchisee in the Cash Generator network. Adam Browning finds out how Dave's dreams of owning a portfolio of outlets have come true
Maximising profits through a range of services under the one roof, Cash Generator is a business with over 10 years of franchising experience and over 70 stores nationwide. Expanding upon the basic concept of the buying and selling of new and pre-owned domestic items, Cash Generator now offers personal loans, pre-paid Mastercards, foreign currency, third party cheque cashing, international money transfers, pawnbroking, vehicle financing and also a buy-back service.
This range of services was one of the factors that led to Franchisee Dave Elwood investing in the business in 1998, and who has since gone on to develop a five-strong network of shops. 'I'd had a career background in retail and out of all the opportunities I saw, Cash Generator appealed to me the most,' explains Dave. 'I wanted to invest in a business that I could expand and develop into a real management opportunity. Cash Generator was exactly what I was looking for as the potential to manage a portfolio of shops was very attainable.'
With a period of training that lasted a total of eight weeks, Dave says that every aspect of the business was covered and he felt fully prepared for the launch of his business. Benefiting from Cash Generator's national advertising campaigns and its strong, recognisable branding, Dave reveals that his business started to develop fast: 'I've now opened five stores in under 10 years but throughout this development, the support has always been there when I have needed it.'
Since running a multi-store operation, Dave's role has increasingly become more managerial and the day-to-day running of the shops is looked after by a well-developed staff infrastructure. 'It was hard work building the business to where it is today,' says Dave. 'A potential franchisee needs to have the motivation to succeed. However, now I have managers to look after each store meaning I have much more of my own time. Cash Generator has hit upon an excellent concept and I've found that all you have to do is follow the proven system and success will follow.'