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Franchise news The latest reports from businesses in franchising


Letting agent buys back successful franchises


n Residential letting agent, Martin & Co, has embarked on a new strategy of buying back its successful franchises. Managing director Ian Wilson, said:


a new Venture


n A husband-and-wife team, originally from South Africa, have launched a new state-of- the-art photography studio in Southampton’s London Road. Martin and Michelle Hillman are the owners of a brand new Venture photography studio, which recently opened its doors for business. The Hillmans are looking forward to welcoming new residents to their studio, part of the UK’s largest contemporary photography company. Mrs Hillman said: “We’ve relocated the whole family from Durham to start our new business and, although it’s been a manic last few months in preparation for our launch, we’re really excited about living and working here in Southampton.


“Over the last few weeks we’ve been exhibiting our work at locations across the country and the response we’ve had so far to the inimitable Venture style has been fantastic.” The couple had previously worked


across a number of different sectors in marketing, design and fundraising roles. They decided to invest in the franchise as it presented an opportunity to combine their skills and build a new business together, whilst at the same time working around their family. Mrs Hillman added: “It’s been a fanastic experience so far.” For more information call the


new Venture Photography studio on 023 8001 9490 or visit: www. venturephotograpy.co.uk/southampton.


10 | Businessfranchise.com | March 2012


Domino’s celebrates 15 years in scotland


n This year Domino’s Pizza is celebrating its 15th year operating as a franchise in Scotland. With 47 stores across the country and more than 1,100 staff, Domino’s has made great strides in Scotland. Domino’s franchisee Chris Forrester, who opened the country’s first store, said: “Since we launched to our customers in the West End


of Glasgow late December 1996, Domino’s Pizza has become a firm favourite for students, couples, and groups of friends and families. We’ve seen a massive increase in the home- delivery market in 15 years, and as customers become more discerning, they’ve increasingly come to Domino’s Pizza to deliver a piping-hot, freshly made treat.”


“It’s the strongest possible signal we could be sending that we believe in the power of our own brand and in the long-term prospects for the UK lettings market by investing our own money in lettings businesses. “Guaranteeing our franchise owners a fair price for their business at the time when they want to sell it de- stresses the whole sale process for them in these uncertain economic times.” It recently bought back its Worthing franchise, after the owners decided to sell.


Scott Burgess, franchise director at Martin & Co said: “It can be a stressful period for franchise owners if they


are ready to sell but do not have a buyer waiting in the wings. We could offer a fair price and because we were funding the deal from cash reserves we could work to the seller’s timescales, without worrying about whether the bank would approve funding. “Ultimately, we want to be the biggest business owner in the group as well as being the franchisor. Lots of large corporate chains are trying to acquire lettings businesses to consolidate their market position but they have to continuously search for acquisition targets and then complete extensive due diligence because they don’t know the provenance. We have 27,000 managed properties on our books so are confident that our acquisition programme can be scaled up as quickly as funds allow.” He added: “We want to complete at least another four purchases in 2012.”


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