Impressive year shows no sign of slowing
National discount retailer, Cash Generator is continuing to grow at an exceptional pace despite the difficult economic conditions
Cash Generator has already opened 24 stores during the first six months of trading in 2011, as part of the company’s unprecedented expansion plan, which has seen the number of its franchise stores rise by 21 per cent in the last year.
Having opened its 150th store in the summer, Cash Generator expects to hit 200 by early 2012. As well as increasing the number of franchise operated stores, the company has invested heavily in expanding its corporate stores. Cash Generator has also opened stores in London, marking a milestone for the retailer, as it is the first time the company has had a presence in the nation’s capital.
The expansion has meant that Cash Generator’s brand is now seen on many high streets across the UK. From Inverness in the north of Scotland to Truro in Cornwall, the discount retailer is continuing to open stores in new territories. Stores have also recently opened in Carlisle, Scarborough and Torquay, making Cash Generator a truly national brand.
This year has also seen the roll out of the popular express store concept, which has has been trialled over the past 18 months in stores in Stretford and Stechford. Offering convenience for consumers seven days a week, Cash Generator express stores are located on busy arterial routes, combining high visibility for motorists and easy access for local residents. Seven express stores have opened in 2011 and have already proved popular with consumers, with the total store network reporting 20,000 items a week being purchased on the buying counter.
With the impressive growth, Cash Generator has also heavily invested in the infrastructure at its Bolton head office and created 20 new roles across compliance, IT, marketing and training. Cash Generator is committed to building the right structure to provide support for the business and its growing network of franchise owners.
Cash Generator’s renowned training programme offers franchise owners a structured and professional programme from a CIPD approved trainer. Whatever their skill set, franchise owners are guided through a mixture of academic and vocational training. Support is also offered from the very start of the franchise process, with guidance from the property team to help find the right location and the financial department offering franchise owners the best advice to produce a solid business plan.
Julian Urry, Managing Director of Cash Generator, said: “This has been a fantastic year for Cash Generator. Our business is continuing to grow, allowing us to expand at impressive rates. Savvy consumers are turning to us as the first place to get a fair deal on retail and financial services. We are hopeful that the final quarter of 2011 will continue in the same vein with a busy Christmas expected.”
One of the UK’s top 10 discount retailers, Cash Generator specialises in the buying and selling of nearly new products and is viewed by many as the eBay of the high street. Franchise owners benefit from Cash Generator’s multiple income streams, alongside its retail services, the company also offers additional competitive financial services including cheque cashing, Western Union worldwide money transfers and foreign currency exchange.
Reported by Fraser McKay