SEPTEMBER 2018
easyCoffee receives £10m investment to boost growth
n easyCoffee’s national expansion plans have been given a boost following a £10million investment from Stellar Asset Management. The value coffee chain – part of the ‘easy’ family of brands that includes easyJet – has enjoyed rapid growth since it launched in 2016. It recently served its millionth cup of coffee in its eight coffee stores and installed its 50th vending machine.
In addition to expanding its franchise operations, this funding will allow easyCoffee to roll out 800 vending machines across the UK over the next year. easyCoffee currently has franchise stores in Burnley, Sutton and Orpington, and is in the process of recruiting a franchisee for its refurbished store in Hastings. The number of easyCoffee stores, both owned and franchised, is expected to reach 200 over the next three years; seven multi-unit franchise partners are already committed to delivering 100 of these new stores. The company is focusing on
developing franchises in Bath, Bristol, Hastings, Maidstone, Sutton and Swindon. This substantial capital injection from Stellar Asset Management, an estate and succession planning specialist, more than triples the amount secured in earlier capital- raising rounds, which resulted in £3million of investments in the company by investors such as Saudi-based Al-Dhowayan Group. Previous investments by Stellar Asset Management, which has a portfolio worth £300million, include the purchase of the Holiday Inn Express in Glasgow. Nathan Lowry, easyCoffee CEO, says:
“We are excited to move forward with our ambitious growth plans, thanks to this significant investment by Stellar Asset Management.
“This investment is an endorsement that the easyCoffee brand, like its sister brand easyJet, stands for a quality product and service at a value price. We are looking forward to working with our franchise and vending partners as we grow the business together.”
Driver Hire wins Franchisor of the Year
n Recruitment franchise Driver Hire is celebrating after collecting bronze in the Franchisor of the Year category at the bfa HSBC Franchise Awards. Driver Hire has been a finalist in the
awards 12 times in the past 13 years, and this marked the fifth time it has scooped the prize.
Olympian Sir Chris Hoy presented the awards, which took place at Birmingham’s International Convention Centre. Driver Hire shared the podium with McDonald’s Restaurants and Agency Express, taking home gongs for the gold and silver awards respectively. Driver Hire’s nationwide network of
more than 100 offices supplies temporary and permanent staff to any business or organisation that operates commercial vehicles. Other services Driver Hire supplies include driver training and driver risk management systems.
Graham Duckworth, franchise sales
director at Driver Hire, says: “Widely respected, these awards recognise both
franchisors and franchisees who have demonstrated outstanding business acumen, innovation and achievement. “For over 30 years we’ve been helping our franchisees to achieve great business success and excellent financial rewards; our average turnover for a single franchised
unit in 2017/18 was over £1.1million, with 15 per cent of our offices exceeding the £2million mark. We work in a highly competitive market, so to be recognised as one of the best franchisors out there is a huge achievement. It will certainly help us take the business to even greater heights.”
Jonathan Gain of Stellar adds: “We
are delighted with this deal, and we are looking forward to working with Nathan and the team and the exciting growth opportunities in this market.”
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BusinessFranchise.com | September 2018
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