Serve yourself up a big helping of the profits
INVESTING in a newly launched franchise can be exciting — but research it carefully because many can lack the trading record of established franchises.
It helps a great deal if the franchise has been launched by a company with a long history.
Haydn Hicks, 49, from Lancaster, became the first franchisee with the High Street brand Wine Rack last October.
‘The High Street is hugely competitive, so as a franchisee it helps if you partner with an existing brand to ma
‘Wine Rack has years of experience, but also backoffice support and in-house training.’
Amanda Jones, chief operating office at Conviviality, which owns the brand, says: ‘ Wine Rack gives franchisees a model to grow their business, high levels of support and brand development and an extensive wine and spirit range developed by our Master of Wine and buyers.’ The franchise investment varies and includes training from the Wines and Spirit Education Trust.
As well as researching the business behind the franchise, its financial position and the franchise model, you must have faith in the management.
Jeff Peters, 45, was Northern Ireland’s first franchisee with mobile coffee and snacks service Cafe2U.
‘Though Cafe2U was new here when I invested, I met the guys at head office and they were passionate yet realistic,’ he says.
‘ I had been in retail management and prided myself on being a good judge of character and business opportunity.
‘I was attracted by the opportunity to be the first franchisee in Northern Ireland and am proud of my pioneering role.’ Investment is £26,650. FFS Brands, owner of Southern Fried Chicken, has launched a new sister franchise, AJ’s Piri Piri, a spicy chicken restaurant.
Chris Gibson, president of FFS Brands Group, says: ‘AJ’s Piri Piri provides a complete ready- for- use service under a proven brand, with the support of a highly experienced team.’
It is available to existing takeaway owners at £5,000, including training. New site owners can get started for less than £30,000.