Case Study - Kevin Old

Entrepreneur Kevin Old, from Bournemouth, has owned a number of successful businesses in a range of industries. From a second hand car dealership and finance broker firm to a restaurant, Kevin’s eclectic experience encouraged him to embark upon a new career in franchising.

After attending a franchise show and having researched an array of potential franchises, Kevin opted to invest in Cash Generator, the discount retailer.

Kevin says: “My previous businesses had all been successful however I wanted to work in an industry which was more profitable. I was instantly attracted to Cash Generator as it has a proven business model which I felt was recession proof. Furthermore, the business offered multiple income streams, which provided me with the confidence to invest in the franchise.”

Kevin opened his first Cash Generator store in his hometown of Bournemouth, in 2002. As a discount retailer, Kevin’s store has not only done well in buoyant economic times, but it is thriving during the current climate.

Following the success of his store in Bournemouth, Kevin opened a second Cash Generator in Shirley in 2009.

“I whole-heartedly embraced the brand and success followed, which encouraged me to open a second store. The experience gained from running the store in Bournemouth meant I was well prepared to open my second store and I am thoroughly enjoying running two businesses.

“I plan to carry on overseeing the store in Bournemouth but will invest much of my time in Shirley so that the store can enjoy the same success.”

As one of Cash Generator’s long standing franchisees, having been part of the franchise network for almost 10 years, Kevin is well placed to advise new franchisees.

He concludes: “Don’t underestimate how much hard work the first few years of operating a franchise will be. You need to be prepared to give 110%, putting in all the hours required to establish a profitable business. If you invest in this high level of commitment, you will stand every chance of success.”