stoppress
News
Good news
for retail
Retail businesses could be saving
up to 10-15 per cent of their set-up
costs during the recession, according
to Domino’s Business Development
EFG scheme: what’s
Director Andy Emmerson.
Landlords are now more willing to
your plan?
do more for their tenants, following
the affects of the downturn on the Poorly presented business plans are when businesses are not eligible. The
property market. Andy said: “Now one of the most common reasons for Government stipulates that this scheme
landlords are offering up to six rejected Enterprise Guaranteed Funding is available to viable businesses with a
months free rent. The average rent- (EFG) applications, according to Lloyds sound business plan.
free period being offered to high TSB’s Head of Franchising Richard
quality tenants has become longer Holden. “Banks want to lend to good financial
in the last six to 12 months. We’re propositions to help businesses grow in
taking advantage of that to offset the He said: “A poorly presented business the current economic climate and the
costs for our franchisees and make plan is commonly seen for declining EFG scheme is an important vehicle to
sure that then reduces the cost for applications. It is an essential document help deliver financial support where it is
our franchisees.” not only to help raise finance but to needed.”
benchmark the business performance
Andy added: “A good location will against the original projections. The £1.3 billion EFG scheme was set
always be a good location” and cost up to help support bank lending to UK
savings are not likely to be reflected “However, the most common mistake businesses with a turnover of up to £25
in the best areas, particularly for is applying for the EFG scheme million.
the ones which remain competitive.
However, it is definitely worth
negotiating rent, particularly as it is
in the landlords interest to encourage
TV brings in 32,000 enquiries
the tenant to sign up.”
for ChipsAway
ChipsAway’s pilot TV advertising Chief Executive Lloyd Evans said:
campaign has brought in 32,000 “During 2008 we passed on £11m
enquiries over the summer. As a result, worth of potential new business
ChipsAway has decided to run the opportunities to our franchise network
advert this autumn over a longer period, and in the first half of 2009 we saw like-
which includes exposure on ‘Dave’, the for-like figures increase by more than 70
hugely popular entertainment channel. per cent, which is phenomenal!”
The campaign, which ran on a number A further impact of the TV campaign has
of digital channels, such as Gold, Bravo, been a substantial increase in interest
Hallmark and VH1, started in June, and by would-be investors in a ChipsAway
in July alone ChipsAway’s National Call franchise. Free find-out-more Open Days
Centre took more than 11,000 enquiries are now run on a weekly basis, rather
for repairs on behalf of its nationwide than fortnightly as before, to meet
network of 350 franchisees. demand.
Franchisor News | 7
FN_p8-10 NEWS_Aut�Wint09.indd 1 21/09/2009 18:37
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