|
Jan
08
|
Franchise information – 24selfvideo.co.uk franchise
Description of Franchise: Automated 24 hour DVD and video rental service
Website www.24selfvideo.co.uk
British Franchise Association member No
No. of UK Franchised outlets Approximately 100 (3,500 international sites)
No. of UK Franchisor owned outlets belived 0 (at Jan 1st 2008)
Date Business established 2003
Date Franchise launched 2003
Growth objectives Recruitment of new franchisees currently on hold
Geographical Spread International
Term of Licence 5 Years
Investment Costs Licence fee £7,500 plus VAT
(Illustrative) Set up costs
Equipment/Premise £95,000 + including opening stock (see comments)
Working capital £5,000 – £15,000 (see comments)
Total Investment £60,000 to £150,000 plus VAT
On Going Fees Royalty 10%
Advertising 1% national marketing
This franchise system is based on a 24 hour, in store, automated rental of DVDs, videos
and games. With the uncertain nature of the video rental industry recruitment of new
franchisees has currently been suspended although machines are still being installed in
suitable sites.
The franchisee is allocated an exclusive territory. Stores can be located within many
existing businesses such as supermarkets, coffee shops and tanning centres as well as
on the high street. Help is provided to identify a suitable location for the store as well as
negotiation of the lease, plan and store fit out, installation of initial stock and developing
a marketing plan.
The set up costs overleaf will very according to where the franchisee sets up the
business. For example if the franchise is run from a Tesco store or coffee shop the
costs will be less than setting up a brand new store in the high street. The working
capital required and profits attained will also be affected by the location. Investment
costs starts from £60k.
The franchisee will undertake five days initial training at the head office covering all
aspects of setting up and running the business. This includes marketing, use of
computer and administration systems and procedures. This is followed by 3 days on site
training. An operations manual is also provided.
A dedicated Franchise Manager will provide on-going support through regular site visits.
The Head Office team provide support through a help-line and engineers are available
24 hours a day for equipment breakdown. There is a communications network for
franchisees and established franchises are encouraged to mentor new starters.
The Franchisor will carry out national marketing campaigns and provide the templates
and guidance for the franchisee to carry out local campaigns. The ideal franchisee will
be an ambitious entrepreneur with good business acumen and sales skills.
24 Self Video membership is open to anyone over 18 years old on production of
identification and confirmation of residential address.
For more information on this franchise please consult the site above. This post is for informative purposes only, and anyone considering investing in any franchise business opportunity is advised to seek advise from an approved British franchise Association Solicitor, as well as speaking to current franchsee's.