Sometimes the best things come in threes. That’s certainly the case for our franchised network.
We’ve recently calculated that growth in our nationwide network is three times the franchise industry average. Figures from the bfa (British Franchise Association) show that, over the past five years, average turnover within the franchise industry has grown at 12%. By contrast, Driver Hire’s is 36% – three times greater.
This impressive figure is reflected in individual office performances too. The average Driver Hire franchise now has a full year turnover in excess of one million – £1.07m. This compares to the industry average of £378k (bfa/NatWest Franchise Survey 2015).
Driver Hire’s outstanding business performance unsurprisingly generates high volumes of enquiries from entrepreneurs, keen to join our network. Over the past quarter a number of our Driver Hire franchisees decided to realise their investment and move on to new challenges. Offices in Blackburn, Bournemouth, Croydon and Nottingham have changed hands and a brand new one opened in Barnsley.
One of our new recruits is James Craven. Such was the appeal of a Driver Hire franchise, James decided to leave a successful career as a business change consultant in Switzerland to buy Driver Hire Bournemouth.
“I was looking to move back to the UK,” says James. “A business contact who’s been a Driver Hire franchisee for a number of years suggested I considered one for myself. I did some research, met representatives from Driver Hire at a franchise exhibition and talked to more of their franchisees. The thing that made Driver Hire really stand out from the rest was the enthusiasm exuded by their franchisees.”
Graham Duckworth, Driver Hire’s Franchise Sales Director, said: “There’s no doubt that buying a franchise can be an excellent investment. Over the past thirty years we’ve developed an excellent business model and a service for which there is a clear demand. Of course, as with any business, you have to be prepared to work hard to develop your patch. Do that and, as the figures show, there are rich rewards to be had.”
Pip Wilkins, the bfa chief executive, added: “With around 90% of franchisees reporting profitability for 20 consecutive years, franchising is long-established as an excellent route into business. Driver Hire’s figures highlight the power of a proven model that’s set up to support its franchisees to succeed – something potential investors should insist on by checking a brand’s bfa membership status, the hallmark of quality and ethics in the sector.”