Newsletter - November 2008
Welcome to the November '08 edition of the Peterborough Workspace Newsletter.
If you read the press on a regular basis, you would get the impression, that it is all doom and gloom for small businesses. However, I am pleased to say that, partly as a result of attending Business Focus, we continue to receive a healthy level of enquiries. Indeed, two new businesses agreed to move in last month. These businesses will move in once one of our firms (Allind Ltd) completes its move to larger premises, which should be any day now. Allind Ltd have only been with us a short time having moved into a small unit at the beginning of the year, and then quickly expanding to three units. However due to the success of the business they need to move to a larger space.
Homefresh, another of our business had a very successful month in October, with the launch of it's first franchise. Details of this exiting development are set out below.
As mentioned above, we attended Business Focus at the beginning of October, I find this a very stimulating event, as it gives you the opportunity to meet with other local business people and to not only promote your business, but to pick up a number of good ideas.
Last month we had had another two excellent workshops, the first was delivered by Nick Smith the“Achievement Coach” on Goal Setting and the second by Terry Moore of the Peterborough College of Adult Education, on the services that they provide and how small business can benefit from them. This month, we again have two workshops, the first, by Tony Larkins of Beacon Financial Limited on Critical Illness and Income Protection for the Self Employed, the second, by David Kentish of the Business Club on the benefits, to small businesses, of being part of that organisation
This month's Business Link article is “Up-sell and cross-sell your way to more profit”, which hopefully will help you sell more products to your customer whilst, at the same time, increasing the customer benefit.
Peterborough Workspace is ideal for those businesses working from home who want to get to the next level. If you are aware of any such business which would benefit from the services which we provide please refer them directly to me.
Philip Moores
Project Director
tel: 01733 390707
Novembers Business Focus - Franchising is the Way Forward for local business 'Home Fresh'
With the launch of the first Home Fresh franchise in Watford, Hertfordshire, Home Fresh seems to be bucking the trend in this economic climate. Watford Franchisee Stephen Hodson had spent 25 years in management at the post office and when redundancy was imminent he was looking at the Franchise sector for an opportunity within the domestic services marketplace. With the launch of the first Home Fresh franchise in Watford, Hertfordshire, Home Fresh seems to be bucking the trend in this economic climate. Watford Franchisee Stephen Hodson had spent 25 years in management at the post office and when redundancy was imminent he was looking at the Franchise sector for an opportunity within the domestic services marketplace.
Stephen was encouraged to go down the franchise route as statistics released by the British Franchise Association (BFA) are evidence he is far more likely to succeed than going it alone, essentially with a franchise your running your own business, using proven trading templates, but your never on your own as you have constant back up and support from Head Office
Home Fresh Proprietor James McCullen says "As our first franchisee, it was very important to have the right candidate, and Stephen had all the prerequisites that I was looking for, excellent people skill and a decent level of business acumen. Stephens's success will be a platform for us to sell further franchises across the country over the next few years and so I shall be working very closely with Stephen to help him make a success of his territory.
The following statistics were taken from the NatWest/bfa Franchise Survey 2008.
- The franchise industry is now estimated to be worth12.4 billion
- 91% of franchisees claim to be profitable
- The average turnover for franchised businesses is £360,000
Profile of Franchisees
- 86% of all franchisees are married.
- The average age of for a franchisee is now 47.
- 66% of new franchisee recruits are male.
- The personal services sector has the largest proportion of female franchisees at 61%.
- The number of graduates operating franchise units is 37%.
- A quarter of new entrants are of Asian background.
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