Phenomenal Support in a recession proof industry
With store one successfully trading, Rysia McCallum is ambitious about building a network of outlets as Cash Generator continues to beat the recession
With Britain headed for recession, following five months of successful trading Cash Generator's first female franchisee Rysia McCallum is thrilled she took the leap and decided to invest in the Cash Generator franchise. With its multiple income streams, which include buying and selling pre-owned goods, cheque cashing, pawn broking, payday loans, currency exchange and Western Union international money transfers, Cash Generator offers its customers a range of services to help them beat the credit crunch.
The recession proof business model was one of the key elements that attracted Rysia (pictured fourth from the left, with her staff) to Cash Generator. 'At the moment people are under a lot of financial strain, which means they will be looking at ways to save and obtain more money,' explains Rysia. 'Cash Generator is perfectly positioned to weather any economic climate because at any of its stores customers can buy good quality second hand products at a fraction of the price of a new product. Customers can also use their jewellery or items to raise extra cash or take out a loan to tide them over until their next pay cheque.'
A former civil servant, Rysia had no previous experience of running a business. Franchising presented her with the opportunity to be her own boss, build a business and at the same time benefit from a proven business model and support package. Rysia looked at a range of franchises, including other buy and sell franchises, before making her decision. Cash Generator appealed because it offered a comprehensive eight-week NVQ-approved training course and ongoing support package and so far, Rysia has not been disappointed.
'I launched my franchise in Lowestoft in August 2008,' she continues. 'So far, the support has been phenomenal. I can contact my Regional Manager or head office if I need any advice or help resolving a problem. The intranet system ensures I keep up to date with any changes to our services and alerts me to new offers and products that will benefit my customers. The pre-launch training programme included both theoretical and practical units, which ensured I understood how to do the paperwork, manage staff, run the business and work the shop floor before I started trading.'
While franchising remains a male-dominated industry, Rysia is proof that women can have a successful career as a franchisee. 'I love the fact that I am in control and make the decisions,' she enthuses. 'As the boss, I have complete control over my timetable - which is useful for women with children because you can work flexible hours to fit in with family commitments. As my children are now teenagers, I am able to focus more of my time and energy on establishing the brand in my territory.
'Following such a fantastic start I am keen to put my expansion plan into motion. I hope to open between four and six stores over the next five years. Once every store is up and running effectively I will be able to take a less-hands on role and oversee the development of the brand within my territory.'
Reported by Jess Sturman