SEPTEMBER 2013
HSBC funds franchise expansion
n Amsric Holdings, whose portfolio of franchises includes 24 KFC restaurants, wants to expand and increase its presence in the South West with the financial support of HSBC. Chris Barton, senior commercial manager for HSBC, worked closely with the bank’s specialist franchise unit in Birmingham to provide a comprehensive seven-figure funding package to fulfil Amsric’s business plans. The company has been a HSBC customer since November 2012. Amsric recently opened a
KFC restaurant in St Austell, Cornwall and Fleet, Hampshire, and is seeking an additional site in Woking. It is also a newly approved Starbucks franchisee and will be opening its first 100-seater Starbucks outlet at Fraddon Services, Newquay, in July. The finance secured will support these new outlets and fund any future acquisitions. Ragin Patel, managing director of Amsric, said: “We have been very pleased with the support offered by the HSBC team and its specialist franchise unit. It is clear that they understand franchising and are keen to support growth businesses in this area.”
Chris commented: “Ragin, Dina and their son Ricky have developed this business gradually over the past 20 years and the know-how to operate a successful food and drink franchise. We were able to structure a deal that took over the existing debt, whilst also providing agreement in principle for additional funding to help with the acquisition of additional stores from the franchisor. This gives Amsric scope for further expansion in the future.”
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Businessfranchise.com | September 2013 It could be you!
n Name: Neil Tipton
Franchise: The Interface Financial Group
Before joining IFG, Neil spent the best part of four decades working for the capital treasury team at Barclays Bank in the UK, the Channel Islands, Gibraltar, Cyprus and the Mediterranean.
Started out: A few years ago the banks weren’t in a very good place, and when I was offered redundancy I grabbed it with both hands. I knew I did not want to start work with a new company so
began to explore the option of setting up my own business. I registered with a career transition company and found IFG. The model appealed to me for several reasons; firstly it suited my finance background perfectly, and secondly I saw a real gap in the market for the alternative funding service that the franchise offers.
Today: After three years I am still enjoying operating my own franchise from my home in South Cheshire. Working life is definitely different to what it was in the past, but I receive excellent support from senior staff, and the training has been continuously excellent. I’m currently working to develop relationships with key businesses in the area, but I’m definitely beginning to reap the benefits. I’m also enjoying working reduced hours and spending more time with my family.
Hitching a ride with Mac Tools
n Specialist automotive tool franchise Mac Tools welcomes four new franchisees this month. Alex Wray, James McMurdo, James McCue and Steve Davis finished their initial training and are now ready to head off to work in their respective territories. They will benefit from Mac Tools’ new comprehensive training and development programme that ensures all franchisees and staff receive ongoing support. As Steve Davis, Mac Tools
Worksop, explained: “The initial training was very informative and has really increased my confidence in my abilities to run my own business. The ongoing support has also been very good. My business development manager is really helpful, he comes out on the road with me and we get along really well.” Mac Tools distributes from a line of over 18,000 professional tools to car dealerships, automotive repair shops, manufacturing units and engineering companies. A keen interest in mechanics and motorsports unites the network of 115 franchisees.
Alex Wray, Mac Tools Reigate said: “During my last job as a motorcycle sales man I was involved with events like the MotoGP. So the Mac Tools sponsorship of a British Superbike Championship team [MSS Bathams Kawasaki] was just another box they ticked for me as they were putting something back into the market. The general setup of the franchise model was really appealing for me and when I met Chris, the Mac Tools franchise recruitment manager, and the other guys in the team it just felt like the right decision. I was looking for something where I can bring all of the skills together that I have learnt in 30 years in the motor trade and the freedom of being out on the road by myself and to be my own boss also really appealed to me.” James McCue, Mac Tools Dundee, added: “I noticed the Mac Tools van out on the road and so I approached the franchisee, John Booth, who told me about everything that was involved. I am good at sales and passionate about tools, so it is the perfect franchise for me.”
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