'The Variety of Revenue Streams make Cash Generator perfect!'

New Cash Generator franchise owner Richard Clucas has not been trading for long but already has plans to own a number of stores

Since launching his Cash Generator franchise at the end of September Richard Clucas has been concentrating on making sure he enjoys a successful trading period during the Christmas shopping season. "My initial aim is to make sure we are successful during the build up to Christmas, which is the busiest time of year for the retail industry," explains Richard, who owns and operates his business with his wife Natalie.

"I also want to concentrate on creating a good rapport with customers so that they continue to come back to the store. In the long-term I want this to be the first of a few stores and in a few years I plan to be in a position to open a second store."

Richard began looking into franchising after the financial services and estate agent industries in which he worked were affected by the downturn. Richard recalls: "I started looking into franchising as I wanted to own a business that was more reliable. The retail industry appealed, but I wanted something with more opportunity and Cash Generator's variety of revenue streams made it perfect. Cash Generator has a large franchise network and offers good support."

Cash Generator is a retail concept that sells quality pre-owned goods bought from customers. In addition, franchise owners are able to provide a range of financial services including cheque cashing. The network of over 100 company owned and franchised stores across the UK includes many franchise owners operating more than one store.

Prior to launching his Preston-based franchise Richard went on a training course held at the Cash Generator head office, which covered all aspects of running the franchise. "The training was excellent," reveals Richard. "In addition to the training course I worked in several Cash Generator stores which provided great hands-on experience. The support I received from head office during this time and since launching my business has been superb. I can consult the head office team whenever I need to - there is also telephone support available and an internal email system."

Richard is confident that in his first year of trading his Cash Generator store will achieve a minimum of £400,000 in sales. Aware of the fact that building a successful business takes a lot of hard work Richard is relishing the challenge. "I enjoy being involved in the day-to-day running of the business and the fact that I'm not stuck behind a desk all day," he says. "I also enjoy the variety of the work involved and I have got a good team of staff working here."

Reported by Derin Ibrahim