Cash Generator Franchise

Cash Generator cover star leads to new franchisee

6th July 2010

Franchising is seen by many as a secure and safe way for entrepreneurs to start up a new business with limited risk, as they are provided with an accomplished business plan and continually receive advice and support from the established franchisor.

This was just one of the aspects of franchising that appealed to Simon Stannard, who opened his first Cash Generator store in Ellesmere Port in October 2009.

Having worked for multinational software companies for two decades, Simon decided he wanted to become his own boss. Simon, from Northwich, says: “I was tired of the unsociable hours and wanted to spend more time with my family. I decided that I wanted to run my own business and make myself some money rather than work tirelessly for a faceless multinational organisation.”

Simon started to research setting up his own business, and by doing so, came across franchising, something he had not thought of before. On the cover of Business Franchise was Cash Generator franchisee Nick Bourne, with an article inside talking about the success he had achieved with Cash Generator.

Simon says: “Reading the article on Nick opened my eyes up to the possibility of franchising. I liked what I read about Cash Generator and was impressed with how well Nick had done as a franchisee. I started to carry out some research into the company, as well as other franchise options as I didn’t want to select the first franchise I’d seen, but all my research kept leading back to Cash Generator.”

Confident he could achieve the same success as Nick, Simon attended numerous franchising exhibitions in both Manchester and London and eventually made contact with Cash Generator, attending an open day at its HQ in Bolton.

With its multiple income streams, quality selection of desirable pre-owned and brand new items and its provision of competitive financial services, Cash Generator proved too attractive for Simon.

He continues: “Investing at the height of the recession I needed a business that would not only survive but flourish. Cash Generator has grown year on year for the last 16 years, so I knew its business model had a proven track record.”

The next step was for Simon to choose the location of his store. Provided with a list of towns, he visited each location, narrowing it down to two, before deciding that the town of Ellesmere Port was the ideal spot. After 10 weeks of CIPD qualified training and shadowing existing franchisees to see first hand how they run their stores , Simon was well positioned to open his new store.

Six months on, Simon says: “It has been a fascinating and wild ride and one that I’m glad I got on. We are meeting the targets set in the business plan and I have a store to be proud of. I’ve really enjoyed learning and have been able to take advantage of the flexible nature of the business model, particularly with purchasing gold.”

It’s not just the flexibility that has helped Simon, Cash Generator’s continued support has proved invaluable. Simon adds: “The regional manager is always available at the end of the phone and the support processes provided by head office is world class.”

Keen to expand, Simon is busy keeping a close eye on possible locations for his second store, with the aim of eventually owning a portfolio of stores.

Simon concludes: “After years of international travel and living in London mid-week, I wanted to both invest in a profitable business and serve the local community rather than shareholders. Through Cash Generator I can finally do this.

“It really feels like the store is part of the community and provides a service to the people of Ellesmere Port, which is something I want to develop. By expanding and owning multiple stores, I hope to serve more communities, as well as build up a successful business for my family.”

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Having worked for Cash Generator for many years at its Head Office in a number of roles, Neil has witnessed first hand the impressive...

KEVIN CHANNELS HIS ENTREPRENUERIAL SPIRIT AT CASH GENERATOR
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Entrepreneur Kevin Old, from Bournemouth, has owned a number of successful businesses in a range of industries. From a second hand car...

Further Information

Franchise Information

BFA Membership Status
Full

UK Years Established
17 years

Current UK Coverage
80%

Franchisee Support Staff
35

Personal Investment Req.
£70,000 approx

Total Startup Cost
£230,000 approx

Shop-based business location

Business to consumer services

Franchisee employs and manages staff

Latest Case Study

13th June 2011
CASH GENERATOR FIRST CHOICE FOR FRANCHISEES

Latest News

7th September 2011
CASH GENERATOR’S IMPRESSIVE YEAR SHOWS NO SIGNS OF SLOWING