20
The franchisee
David Parker, 41, from Buckinghamshire, invested
a
t
u
r
e
£70,000 in a David Reid Homes franchise, following a
career as a building services manager on construction
and fi t-out projects
s
p
e
c
i
a
l

f
e
Why did you decide to take on a high-level business so that premises and employees can
investment franchise? be gained, allowing me to work on the business.
“David Reid
The potential profi t, if all goes well. This should With this particular business there are also the
Homes has allow early retirement and add value to the challenges that construction, project management,
payment options,
business so it can be sold. Also, a better standard marketing and sales bring.
of living, as I have one young child and another Do you think franchising is a good option in the
which reduced
about to be born. current fi nancial climate?
the initial input.” Did you have any reservations? I am no expert but it seemed the right time
Yes, of course, due to the amount of investment for me, although it was more for the lifestyle
if our plans do not work. than financial climate. However, some advice I
How easy/diffi cult was it to raise the fi nance? received was that a downturn is a good time to
Luckily I have a silent(ish) partner who inputted start, as you are then ready and set up for when
half and with that, the bank saw an investment, things pick up. Also, when the shackles are taken
which made them feel more comfortable lending. off lending there will be many frustrated people
Also, David Reid Homes has payment options, looking to spend.
which reduces the initial input. What ambitions/future plans do you have at
What are the challenges of running a high-level David Reid Homes?
investment franchise? To make a success of my business and then
Initially, to make it work and then grow the expand, by purchasing other territories.
The franchisor
Andy Hirst, Head of Franchise Development,
Domino’s Pizza
Investment level: experience of people management would put
Approximately £270,000 for a brand-new store. them in good stead. Basically coming to us very
The franchisee would need to have about a third keen, and we teach them everything they need to
“We’ve got
of that in cash/unencumbered funds, and the know.
banks would lend two thirds. What challenges can a franchisee expect when
people who used
For a brand-new store, what kind of person they take on such a high-level investment?
to be barristers, would you be looking for? It’s a busy life, a hectic environment, and you’re
car-importers,
A wide range of backgrounds – we’ve got dealing with anything from 25 to 50 staff. The
people who used to be barristers, car-importers, biggest challenge is to establish a well-trained
window
window cleaners and from IT, banking, etc. We team of people who have the commitment and
cleaners...” look for people with energy, enthusiasm and some enthusiasm that you need.
April 2010 www.businessfranchise.com
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