A franchise relationship brings the unique qualities and strengths of Franchisor and Franchisee together. The Franchisor brings an established brand and business format whilst the Franchisee brings local market knowledge, access to capital aswell as operational and organisational experience.
To develop our international business, we are seeking individuals or organisations that could initially open and operate a group of Venture studios across an agreed territory within certain countries. The size of territory and potential number of studios would depend on both the capability of the franchisee and the characteristics of the country but as a minimum, we would expect a franchisee to be capable, resourced and willing to open a cluster of 5 studios over a 3 year period. We would also be happy to meet organisations that could support a larger rollout across a wider area and would have the appropriate resources and organisational capabilities to achieve this scale.
Our franchisees are our lifeblood. The entire Venture operation is structured and organised to give each franchisee the best possible opportunity of reaching their full potential
In summary, we are looking for franchisees who:
Recognise the value of an established brand and a defined and proven business model
Have the operational and organisational capability to open and develop a group of Venture studios in an exclusive territory
Possess a good understanding of both the portrait market and the wider retail and commercial markets in their country
Are committed to investing in and developing a network of Venture studios in a defined and exclusive territory.
5. Franchising Internationally with Venture Franchising is a partnership – both parties contribute to the overall success of the business – Here’s what we offer:
We will agree and sign a 10 year franchise Agreement which will allow you to develop Venture across an exclusive territory at an agreed pace to an agreed scale
Full support service throughout the process of opening the initial studio
We will help you select the appropriate locations
We will provide all of the detail of studio fit out, finishes and equipment
Initial Training As part of the initial franchise fee we will train you and your key staff in the UK to ensure that you understand the Venture business model thoroughly.
The training will cover amongst other thing:
Venture photographic experience
Sales and sales promotion
Customer service and experience
Supply of Products
Supply of Products You focus on running and developing your business. We take care of supplying all of the finished products to you as you sell them. Our unique production capability is a ‘one stop shop’ which supplies Venture studios only.
Business Support You will have access to our extensive Operations Manual which includes details of our operational methods and processes. You will have the exclusive right to develop the Venture concept and use our trademarks in the agreed territory You will have a combination of on-site and remote support to ensure that your business reaches its full potential
Brand Development We already have the biggest and most recognised brand within the UK portrait industry. Our vision is to have a global brand that is recognised as the world leader in its field. The investment in our brand supports all of our studios, in whichever country they operate by providing them with a unique and powerful identity which differentiates them from other studios.
6. Investment and Business Terms
Our franchise agreement We are offering international franchisees the opportunity to open and operate a group of Venture studios in an exclusive territory. We will sign a Franchise Agreement which, in summary, will include details of the following:
The agreed territory which will be exclusive for the term of the Agreement
Full usage of our trademarks in the agreed territory
Access to our Operations Manual and other methods
Initial and ongoing fees payable, including any agreed minimum fee schedule
Supply of products
Studio development schedule
Renewal (automatically for the second term) and termination
Our Fees We charge an initial franchise fee which covers the initial training of your team, the support that we will provide in the pre-launch period and our other costs. The Initial Fee will be proportionate to the number of studios that is within the agreed development schedule. Thereafter a monthly franchise fee will be payable which is calculated as a percentage royalty of the total retail sales of the Franchisee’s Venture business. Typically, this would be 7%.
Supply of Products All of our studios purchase their finished portrait products from us. There may be some final assembly that the franchisee will carry out in the territory.
Expected returns When implemented professionally, Venture’s business model will provide an International franchise with a combination of healthy profits as well as an increasingly valuable asset.
Typically our studios will generate a 15-20% net return and the most efficiently run franchised studios have a record of delivering well over 20% net returns, year in, year out.
There are clearly no guarantees of success and the returns in a particular territory will be dependent of many factors, not least the effectiveness of the franchisee.
7. International Franchise Opportunities We already have studios in Hong Kong and the USA and we are now interested in meeting individuals or organisations that share our beliefs about the potential of our brand and business model and wish to become a franchisee with exclusive rights to open a group of Venture studios in a defined territory.
Whilst we believe that the Venture model would work in most countries and would be happy to accept serious enquiries from any country, we are particularly keen to meet potential franchisees from the following countries:
– USA – Mid West – Texas – California and western states – Eastern Seaboard – Florida – Canada – Middle East – Asia – Singapore – Taiwan – Thailand – China – Australia and New Zealand – South Africa
Frequently Asked Questions
Q: Do I need to be a professional photographer to become a Venture international franchisee?
A:Quite simply, no. Whilst we would be delighted to hear from professional photographers, we are primarily looking for individuals or organisations that have the resources and capability to develop a group of Venture studios in a territory. We are certainly looking for people who at the least have a strong interest in photography and who can therefore appreciate and nurture the creative side of our business
Q: What training is provided by Venture?
A: The initial training will equip the franchisee and his key staff to operate the initial studio. Ongoing, Venture has unique in-house training programmes for photographers’ aswell as for the other roles within our studios. Training for the key staff would be delivered in the UK at the outset and 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
Q: How much money will I need to invest?
A: We estimate that the initial investment required for a 5 studio territory would be in the region of US$500,000 – US$750,000 including the initial franchise fee, set-up of the initial studio, stock, training expenses and working capital. There may well be additional investment required dependent on the pace of the rollout of the first few studios. Larger territories that would allow more studios to be opened may well also require additional capital investment.
Investment levels will depend on local conditions, particularly in the local real estate markets.
Q: How long will it take to open my initial studio?
A: From the point that we sign the franchise agreement we would expect to have the initial studio open within 6 months 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 to have a senior partner who is an equity holder and 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.
Q: How much should I expect to turnover?
A: Our UK studios average annual retail turnover is approximately US$1,000,000 (equivalent) and our experience away from the UK confirms that unit turnover is, on average, 50-70% higher than this.
For further information please follow the link and complete the application form: Venture Franchise
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