Cash Generator franchise to expand across Scotland
National retailer Cash Generator is to double its presence in Scotland, opening 14 new stores in the next two years, creating 100 jobs and signalling an investment of £2.8 million into the Scottish economy.
With 15 Cash Generator stores open in the country at present, Scotland represents 13% of the 90+ strong high street chain.
Having already opened two new stores in Glasgow and Dundee in recent weeks, Cash Generator is keen to ambitiously roll out its proven buy, sell and loan business model.
With its popular range of pre-owned items, together with instant cash for goods of value and other financial services, Cash Generator is enjoying buoyant trading, spurred on by cash-conscious consumers in the economic downturn.
From 1 February 2009 to 30 April 2009, the franchise company has reported a strong growth in all of the group’s key income streams on a like for like basis. Gross profits are up 3.3%, the buying of pre-owned items from the public has increased by 19.1%, and contribution (gross profits) has increased by 13.8%.
Julian Urry, managing director at Cash Generator, says: “The driving force behind Cash Generator’s expansion in Scotland is attributed to many factors, significantly our greater presence in the country and the hard-work, dedication and ambition of our Scottish franchisees, with many of them (Franchisee’s) either already owning multiple stores or seeking to open additional stores.
“Scotland is a major part of our future expansion plans. We have identified a number of sites for new stores including Aberdeen, Arbroath, Paisley, Perth, Falkirk, Stirling, Lochee, Cumbernauld and Ayrshire.
“Furthermore, we have two stores in Glasgow at the moment but with its vast population which meets our target demographic, there is further potential in the city,” concludes Julian.
Established in 1994, Cash Generator is the UK’s leading buy, sell and loan store offering a top quality selection of pre-owned, brand new and graded items for sale as well as instant cash for goods and a host of highly competitive financial services such as Pawnbroking, Western Union, Foreign Currency Exchange, Payday Loans and Cheque Cashing.
Cash Generator currently has 93 stores throughout England, Scotland and Wales, both company owned and on a franchisee basis, and pledges to offer simple, straightforward services at some of the best rates on the high street.