Cash Generator franchise owner Dave Elwood shares his experience
Dave Elwood, who used to work as a school teacher, joined the Cash Generator network in 1998 as a franchise owner. He had a vision of becoming the franchise owner of a chain of loan, buy and sell stores across south Wales and south west England. 18 months after starting his Barry store, Dave became the 2nd franchise owner in Cash Generator network to own more than one store after opening his second store in Pontypridd.
Dave said it was always in his mind to follow the opening through by opening extra stores by building on his early success. Presently, Dave owns seven stores, among which many of them regularly feature in the top performing league table of Cash Generator. Cash Generator’s franchise offering ringed a bell with him from the word go. Right from investing in his initial franchise store, his team worked really hard to set up a good business.
By the time they reached their 5th store, Dave was able to self finance the operation which meant that he was not at all dependent on the bank to raise funds. Dave admitted that running stores at the same time was quite challenging, but as Dave had put a team of management staff in place for operating multiple locations, it became far more efficient and his role in business also changed. Dave spent almost five years getting used to managing two stores prior to investing in the 3rd site in Merthyr Tydfil. At that point he was able to employ an Area Manager.