Cash Generator helps change the face of the high street
National high street retail franchise, Cash Generator, continues to go from strength to strength as the high street evolves.
High streets across the UK are changing as consumers’ shopping habits adapt to the uncertain financial times.
Consumers are now more switched on, tending to browse first before going home and comparing the prices online. Retailers must be able to compete with online prices or risk losing custom.
Cash Generator is well positioned to deal with the changing consumer demands with its multiple income streams. One particular area of growth has been the purchasing and resale of pre-owned goods. Since opening its first store in 1994, Cash Generator has bought and recycled more than 35 million items.
With more and more people looking for a bargain, there has also been an increase in the sale of pre-owned goods, with Cash Generator often being referred to as the ‘ebay of the high street’.
The UK’s leading buy, sell and loan store is also taking advantage of the growing demand for online retail, having invested heavily in their website, franchise owners are able to take advantage of this growing market place.
Graham Mulheron, a Cash Generator franchise owner with stores in Luton and Stevenage, says: “Over the past three years I have seen first hand the change in retail shopping habits. We have gone from doing no business on the internet to a position where it now accounts for up to 30 per cent of our retail sales. This is something I see continue to build and, as a consequence, we are putting more resource in to this area of our business.
“The growth of the internet is bringing far more transactions from around the UK and mainland Europe, which we would never have had access to prior to developing our online sites.
“Consumers are generally far more comfortable shopping online and with the current economic climate it is far more common place for consumers to shop around for the best deal, whether that is on new or pre-owned products.”
Cash Generator stores operate as a discount high street retailer, offering a top quality selection of pre-owned and brand new items for sale at bargain prices. They also provide instant cash for goods along with a host of highly competitive financial services including cheque cashing, personal and asset-backed instant cash loans, Western Union worldwide money transfers and foreign currency exchange.
With its comprehensive training course and ongoing support structure, which the company believes to be unrivalled within the franchising industry, it is no surprise Cash Generator attracts a high calibre of franchise owners.
More than one in three of Cash Generator franchise owners have gone on to open additional outlets due to the success of their first store.
Established in 1994 and based in Bolton, Lancashire, Cash Generator is a full member of the British Franchise Association.
Reported by Rick Wheeldon