Special Feature
Esquires Coffee Richard Neal
Richard is the owner of Esquires Coff ee in Worthing and began trading in November 2014.
What did you do before franchising and what made you look into it? Before I became an Esquires franchisee, I had a printing company, which I started in 1984 in Stratford, East London. As the print industry started to change, I entered the commercial market, developing retail and industrial premises. I no longer have the print company, but still have the property management company. As the property company is self- managed, I needed another challenge. Due to the fact I was entering an area I had little experience in, I decided to look into franchising, as they have a greater success rate then self-start businesses. Also, banks feel comfortable to lend, as the franchise sector has a proven formula and track record.
Why this sector and Esquires in particular? I liked the coffee shop sector, because of its higher profi t margins on beverages, and I didn’t want to go down the full catering industry route. Esquires seemed the perfect choice because of its ethical values, being one of the fi rst International coffee houses to offer Fairtrade and organic coffee. Apart from having high customer service standards, each franchisee can, if they wish, put their own 20 per cent stamp in the business to suit the local area and community.
How has trading been so far? I’m coming to the end of my third year; turnover growth has been averaging
eight to 10 per cent per year, with an average of 100 extra transactions per week year on year. In the next year, now that I really know the business, I feel there will be a higher growth.
What are the specifi c advantages of franchising in the food and drink industry?
The advantages of franchising in the food and drink industry are that you have the purchasing power of a bigger global company and you can react to changes and products more rapidly. This is a result of people outside your own business, with an interest in you, being aware of future trends and what’s on the market.
What are the benefi ts and challenges facing franchisees in the food sector? A benefi t is that it is still a growth industry, even in economic downturns; people like their daily coffee in a coffee house, especially one where they can chill out.
Challenges facing the food and beverage sector are rising product costs due to the fall in the value of Sterling and EU nationals being restricted or feeling more secure working in the EU rather than settling in the UK.
Would you recommend franchising in this sector? I would defi nitely recommend the coffee house sector, due to it still being a growing industry and people’s love of the experience.
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BusinessFranchise.com | November 2016
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