Bargain Booze franchisee Gurpreet Randhawa has expanded into new premises at Station Road, Llandaff North, after a £375,000 investment supported by Barclays.
The new off licence and convenience store under the select convenience brand will compliment existing stores at Tonyrefail and Tremorfa, create 3 new jobs and increase turnover to £2.5 million for 2017.
Franchisee Gurpreet Randhawa said
“The unit had been empty for over 2 years so it is nice to bring the outlet back to economic life and provide more choice for the local consumers. The new mini market provides more choice and further competition which has to be good for the customer. Running a franchise is tough as pricing and profit margins are often set by the franchisor. However the brand awareness, marketing and additional support give you a greater chance of success.”
Jason Coleman, Barclays Business Manager, said
“By really understanding the business and the sector, Barclays has been able to provide a funding package to support Gurpreet throughout this exciting expansion. A £375,000 investment in the new premises demonstrates both Barclays and Gurpreet’s confidence in the continued growth and success of the business. With Gurpreet’s experience in the sector and his strong work ethic I am confident this additional outlet will be a positive addition to his portfolio.”