Do I need to be a photographer to qualify as a Venture international Franchisee?
Quite simply, no. Whilst we would be delighted to hear from professional photographers, we’re primarily looking for individuals or organisations with the resources and capability to develop a group of Venture studios in a territory. We are certainly looking for people who have a strong interest in photography and can therefore appreciate and nurture the creative side of our business
How long will it take to open my initial studio?
From the point that we sign the franchise agreement we would expect to have the initial studio open within 9 months.
How much money will I need to invest?
We estimate that the initial investment required for a 5-studio territory would be in the region of US$750,000. This figure includes the initial franchise fee, set-up of the initial studio, stock, training expenses and working capital. There may well be additional investment required depending on how quickly the first few studios are rolled out. Larger territories that would allow more studios to be opened may also require additional capital investment. Investment levels will depend on local conditions, particularly the local real estate market.
How much should I expect to turnover?
The average annual retail turnover of our UK studios is approximately US$1,000,000 (equivalent). However, our experience away from the UK confirms that unit turnover is, on average, 50-70% higher than this.
What training is provided by Venture?
The initial training will equip the franchisee and key staff to operate the initial studio. We also have ongoing, in-house training programmes for photographers, as well as the other roles within our studios. Training for key staff would be delivered in the UK at the outset. Thereafter we would support the franchisee in their territory as they develop their business. Our Operations Manual provides all of the 'tricks of the trade' to our franchisees.
Will I be expected to dedicate my full attention to the Venture business?
We expect the Principal of the business to be fully engaged in the business, or at least have an equity-holding senior partner who is fully engaged within the business. The success of the business will be, in no small part, influenced by the drive and commitment of the franchisee.