Franchisee has phenomenal sales success
Operating his franchise for less than a year, Nick Bourne has already managed to buy his dream car. Derin Ibrahim interviews
When setting up a new business, even if it is a franchise with a recognisable brand name, it usually takes time to start seeing financial results. So when Nick Bourne launched his Cash Generator Weymouth franchise in October 2006 he could not have imagined that in less than a year his business would be so successful that it would enable him to buy his dream car, an Aston Martin.
Nick had been looking to become a franchisee for a decade. 'I had approached a similar franchise to Cash Generator 10 years ago as I thought Weymouth would be a perfect spot for this type of business,' he reveals. 'As they insisted that I had to find the site I eventually left the idea. I had moved away from the area but when I moved back I decided to approach Cash Generator.'
Impressed with how Cash Generator presents itself, Nick decided to leave his job working for Dorset Police as a Community Officer and buy a franchise. He explains: 'I decided to go with Cash Generator as I liked their business model. I also liked the lay out of their stores, plus the fact that customers can touch the products and not everything is behind glass. Generally their whole package appealed to me.' With stores across the UK, Cash Generator outlets sell brand new, graded and pre-owned goods, as well as providing buy-back and cheque cashing services, along with foreign currency and other financial services. Since opening his store last October Nick has had great sales success. 'I've just won a special achievement award for my sales results,' enthuses Nick. 'I've doubled my sales figures and have made over £1 million turnover in less than a year. My sales figures have been so good that I've had franchisees who have been trading for years calling me and asking me how I've been doing it. I've even had the Cash Generator Managing Director Brian Lewis come to my store and complement me on my ideas. I put my high sales down to making my store look appealing, interesting and different.'
Even though Nick has had phenomenal success with his franchise he will admit that it is not easy: 'Since opening it has been a lot of hard work. I've put in a lot of hours, including the occasional Sunday and I usually start work at 7am. However, buying my dream car - an Aston Martin - has made it all worthwhile and I love the sense of achievement I get from my business.'
SHAPE YOUR FUTURE WITH CASH GENERATOR
We are the most successful Buy & Sell Store group in the UK, with a business model that provides multiple profit streams to generate income in most economic climates.
We maximise our potential by offering customers pre-paid mastercards, foreign currency, money transfer services and both personal and asset backed loans.
These services complement our core offering of bargain prices on new and pre-owned goods, buy-back offers and cheque cashing facilities.
The business was deliberately set up with multiple income streams in order to maximise profitability and safety. Franchisees like owning busy stores where customers frequently end up using all our services rather than the original one they started with.
Cash Generator is truly an innovative High Street retailer and instant cash provider to the local community in which they operate.
Investment opportunities from only £45,000