Investment: £50k-£100k
Franchise Focus
Generating cash
Regarded by many as the high street equivalent to eBay, Cash Generator is proving popular with cash-strapped consumers feeling the pinch during the recession by selling pre-owned goods at discount prices
INVESTMENT LEVEL: £70,000 – £80,000
with customers. Offering convenience for customers, 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 proving popular with consumers, with the total store network reporting 20,000 items a week being purchased on the counter. With this impressive growth, Cash Generator has also heavily invested in the infrastructure at its Bolton head offi ce. More than 20 new roles have been created in compliance, IT, marketing and training. Cash Generator’s renowned training programme offers franchisees a structured and professional programme from CIPD approved trainers. Franchisees are guided through a mixture of academic and vocational training, and support is offered from the beginning of the franchise process. Guidance in fi nding the right location is offered by the property team, and the fi nancial department offer
“This has been a fantastic year for Cash Generator so far. Our business is continuing to grow allowing us to expand at impressive rates”
franchisees the best advice to put together a solid business plan. Franchisees benefi t from Cash Generator’s multiple income streams, alongside its retail services, the company also offers additional competitive fi nancial services including cheque cashing, Western Union worldwide money transfers and foreign currency exchange.
eBay of the high street, the Bolton-based company, which specialises in the buying and selling of pre-owned and new products at discount prices, has opened 24 stores during the fi rst six months of trading this year. The unprecedented expansion has seen the number of franchise stores increase by 21 per cent in the last year, with one in three franchisees opening additional outlets because their fi rst stores have been such a success.
N
ational discount retailer, Cash Generator is one franchise that is continuing to fl ourish despite the challenging economic conditions. Viewed by many as the
The company, which opened its 170th store this autumn, is not only increasing its number of franchise-operated stores, but is also heavily investing in expanding its corporate stores.
Cash Generator has opened six stores in London, marking a milestone for the retailer, as it’s the fi rst time the company has had a presence in the capital. Other stores have opened in Hartlepool, Barrow, Glenrothes and Colwyn Bay, welcoming four new franchisees to the network.
This year has also seen the roll out of the popular express store concept. The express store has been trialled over the past 18 months with stores in Stretford and Stechford, which have proved very popular
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Businessfranchise.com | December/January 2012
Julian Urry, managing director of Cash Generator, says: “This has been a fantastic year for Cash Generator so far. Our business is continuing to grow allowing us to expand at impressive rates. Savvy consumers are turning to us as the fi rst place to get a fair deal on retail and fi nancial services. We are hopeful that the fi nal quarter of 2011 will continue in the same vein with a busy Christmas expected."
CASH GENERATOR
WEBSITE:
www.cashgenerator.co.uk EMAIL:
info@cashgenerator.co.uk PHONE: 01204 574 444 CLASSIFICATION: National discount retailer
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