Summary of Operation
Cash Generator is a nationwide high street discount retailer of nearly new products. Its 180 buy, sell & loan stores have multiple income streams, which maximise profitability and safety. One in three franchise owners have opened additional outlets such was the success of their first store.
Initial investment required from £70,000 + VAT
Having built up his own successful fast food distribution company in Glasgow, Allan Whittaker decided he wanted a change of direction after getting tired of competing against bigger companies with larger budgets.
Allan explains: “I always believed that if I had the backing of a large, UK wide organisation I could be successful. Franchising offers that opportunity to operate your own business but with the backing of a bigger company. After doing my research, I decided that discount retail and the financial services sector was an area that would continue to grow.”
After attending a number of franchise exhibitions and taking the opportunity to visit the Cash Generator head office, Allan was confident that he could succeed with the discount retailer.
“The business model, which works well in all climates, impressed me, and I felt comfortable working in retail,” he adds. “The diversity of the financial services also provided the challenge I was looking for.” Support from Cash Generator has always been superior, continues Allan: “When I first met the Cash Generator team, I was really impressed with the senior staff. They had big plans for the company that have all come to fruition since I met them three years ago.
“Now there are more exciting plans for the future in place, and I am looking forward to working towards those. It really is a two-way street, the more supportive, proactive and transparent the business is, the more every franchise owner, including myself, wants to perform well and invest in that brand.”
Since opening the Partick store in 2009, Allan and his team have worked hard to create a successful store that has consistently beaten its targets.
To do so, Allan has embraced the Cash Generator retail website, where franchise owners are able to trade 24 hours a day by listing products on a specially built site. This has enabled him to maximise the profitability of the store and resulted in Allan and his team receiving the coveted ‘Store of the Year’ award.
“I was delighted to receive the award on behalf of the store,” says Allan. “The whole team is dedicated to providing a great service to the people of Partick and we have worked hard to retain and expand our customer base. Over the past two years I have learned a lot about the business and how to make it a success and it’s nice to get recognition from head office.
“With the award, the whole team were ready to hit the ground running with the opening of the new Clydebank store and we have felt the success already. A lot of hard work goes into operating your own stores but it is ultimately rewarding knowing that you have a successful business of your own.”
In between running his two stores, Allan took time to engage in some charity work by donating some Christmas gifts to York Hill hospital in Glasgow, as a way of giving back to the local community and a place close to his heart.
Allan adds: “It was a great day and really nice to be able to see the children opening the presents and I hope Cash Generator will become a big part of the community in Clydebank, as it was nice to get the chance to reach out to those involved.
“I was born at York Hill hospital and I know my core customer base comes from the areas directly surrounding the store who would use that unit, so I try to give back to them as much as possible.”
Written by Natalie Davies