STOPPRESS NEWS
Founder of the highly successful Maid2Clean franchise, Mike Hanrahan, has broadened his franchising interests and joined Platinum Property Partners (PPP).
Mike Hanrahan
Franchisor becomes franchisee
Cooks Global Foods recently announced it has agreed an Esquires Coffee master franchise for Egypt in a move that gives a boost to the group’s Middle East expansion plans. The new agreement with Egyptian food service entrepreneurs Yasser Hamed and Samy Nada runs for 10 years with a further right of renewal. It envisages the development of 50 stores in Egypt and will assist Cooks Global Foods to achieve its target to lift global store numbers from 71 to 125 by the end of the 2016 financial year. Esquires Coffee already operates 20 stores in the Middle East including seven in Saudi Arabia, four in the United Arab Emirates and three in Bahrain and six in Kuwait. Cooks Global Foods, which owns the intellectual property and master franchising rights to Esquires Coffee Houses worldwide (excluding New Zealand and Australia), now has agreements in place for
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Mike launched the domestic and home cleaning service in 1993 and, two decades on, the franchise is operating in more than 168 territories across four countries, with 14,500 cleaners. A believer in any ethical business model that can generate a lifelong and passive income like his own, Mike was interested to find out how PPP could help him use his assets in a more productive way. He met some of the team at a franchise exhibition in September 2014 before deciding to get some more detailed information at a Discovery Day. “The business is closely aligned with Maid2Clean in that it achieves a long-term residual income whether you are physically present in the business or not. The added bonus with PPP is that this income is further supported by appreciating bricks and mortar and provides an additional business opportunity for my children in the future.”
Mike, who will continue his role as CEO of Maid2Clean, aims to initially build a portfolio of up to ten Houses in Multiple Occupation (HMOs) in and around South Cheshire over the coming years, before deciding whether to grow the business further. Already a landlord of four single occupancy buy-to-let properties, Mike is looking forward to “plugging into the expertise” offered by PPP and learning how to produce a significant and tangible return on investment. PPP founder and chairman Steve Bolton commented: “I am extremely pleased that Mike has joined us as a new Partner. It is a credit to Mike that someone of his calibre and standing, as a published author and highly successful franchisor in his own right, chose to join PPP. He did this so that he could maximise his profits, minimise his risks and fast track his success as a property investor. It is also a credit to PPP that the business can not only attract franchisees from most of the leading franchised brands to join the business, but also other highly successful franchisors like Mike.”
Esquires Coffee agrees Egyptian master franchise
13 separate territories and is in discussions to expand its master franchise network further. Executive chairman Keith Jackson said: “The Middle East represents a very attractive territory for Esquires. Cafés are culturally important meeting places, while Esquires’ artisan organic and Fairtrade coffee experience is growing in appeal in the region especially among more affluent consumers.” The Egyptian agreement comes hard on the heels of the company’s confirmation that its new brand and store design formats are driving increases in same-store sales. The company recently announced its rebranded and upgraded Esquires Coffee store in Durham had seen a 19.2 per cent uplift in same-store sales over the 29 weeks since it re-opened. Meanwhile, Esquires’ flagship Chinese store in Oriental Plaza in Beijing has seen a 21.4 per cent increase in same-store sales in the first two weeks since it reopened.
Keith continued: “We are very pleased with our
progress. This agreement coupled with the strong progress we are making with the rebranded and revamped stores in Europe gives us great confidence in the prospects for the brand.” Esquires currently operates 24 stores in the UK, with its 25th store in Coventry West Orchards Shopping Centre opening this summer.
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