"They really cared about my business and have always been there with support – not just the finance"
This is especially attractive to younger entrepreneurs: the British Franchise Association reports sharp rises in the number of under-30s taking up franchise opportunities.
A wealth of opportunities The number of so-called ‘mumbos’ – multi- unit, multi-business operators – is rising too, as franchisees straddle different sectors. “Once they’ve expanded as far as they can in a particular territory but still want to grow the business, it can be easier for a franchisee to add different sectors to their portfolio, rather than expand to new areas,” says Marc Talbot, head of international franchising development at HSBC. This was the approach taken by franchisee Kash
Jaffar. Having joined the Budgens convenience store franchise in South-east England 15 years ago, he has since added Pizza Hut and Costa Coffee outlets to his portfolio. His latest venture is with workspace provider Regus. Kash makes full use of his employees’ local
expertise: “I have an operations manager for every brand, and local store managers have full freedom to run their shops and hire staff,” he says. “The stores all support each other too.” In 2005, he secured funding from HSBC for
a new-build Budgens store. He has been with the bank since, relishing the expertise of its franchising team: “They really cared about my business and have always been there with support – not just the finance.” Kash found attending multi-unit events especially valuable, filling a knowledge gap for franchisees. “They bring in big brands and give them an opportunity to present to people in the franchising community who want to expand,” he says.
Hopes and dreams HSBC’s long record in the field – a dedicated franchising team for 30 years – has equipped it with a deep expertise as the model has expanded, says Andy Brattesani, the bank's UK head of franchising. Andy says: “We’re now in the position where we know what works and what doesn’t. And we have an extensive network that allows us to introduce clients to brands and brands to clients." The specialist team is now able to assure
"We're now in the position where we know what works in franchising and what doesn't... "
franchisors of a consistent banking service for each of their franchisees. The scale of the franchise network can unlock preferential terms. Franchisees benefit from a central helpdesk,
offering advice and liaison with local banking managers. Funding of up to 70 per cent of start- up costs is available for franchisees joining an established network. Andy relishes his team’s ability to get new
enterprises up and running. “We signed 510 franchise deals last year – two for every working day,” he says. “This is the best job I’ve ever had, supporting people’s hopes and dreams.”
HSBC 0121 455 3438
franchiseunit@hsbc.com
business.hsbc.uk/franchising
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