What does Venture charge as its franchise fee?
Ventures franchise fee, sometimes referred to as a Management Services Fee is split into two elements:
1. 5% of gross turnover is charged as a franchise fee
2. 2.5% of gross turnover is charged as a marketing support fund contribution
How much does it cost to start a Venture franchise?
If you’re looking to buy a franchise in the UK, typical start-up costs will vary from location to location, however as a guide, franchisees will need between £70k and £100k to start a studio in a brand-new territory.
Franchisees will normally be required to have approximately 50% of the start-up cost as available funds, the balance can usually be secured through bank lending. Venture has relationships with the franchise departments of most high street banks.
What is the typical turnover of a Venture franchisee?
In the UK in 2018 the average gross turnover from a Venture franchisee was £440K. This is made up of selling to an average of 12 customers a week, with an average order value of £700.
How much profit should a Venture franchisee expect to make?
The Venture model is designed to make a return of between 10-15%, this is in addition to the franchisee paying themselves a salary of approximately £25K per annum.
What help will I get in starting a Venture franchise?
Venture uses a pre-defined opening model to open all new studios, this in summary covers:
- Business planning and presentations to banks to secure funding.
- Assistance in property selection and lease negotiation.
- Introductions to shop fitters and help on studio layout.
- Full training for the franchisee on the Venture model.
- Assistance in interviewing and recruiting the studio team.
- Full training for photographers and all other studio roles.
- Pre-opening lead generation marketing plan.
Which territories are vacant?
Venture is currently recruiting for new franchisees across the country, with the key target areas listed below.
- London – within the M25
- Edinburgh – resale opportunity
- Liverpool – resale opportunity