Signarama UK is launching a new proposal that will enable businesses to diversify by ‘bolting on’ its franchise services.
As part of the new initiative Signarama UK will initially approach small to medium-sized independent businesses from related sectors, such as print and design, with the opportunity to invest in its brand and add its services into their own offerings.
“It could be that these businesses have reached a plateau with or aren’t seeing enough returns and they need a boost, or perhaps they want to improve the value of their business so they’ve got a better offering when they come to sell later down the line,” said Signarama UK franchise recruitment manager, Annetta Doyle.
“It’s not going to be for everybody and we aren’t saying we are better than them; we are looking for businesses that have grown successfully and we are interested in helping them to take the next step and of course to grow our own brand with them. It’s a win win,” she added.
Investment levels would vary depending on the size of company looking to partner up and what amount of Signarama services they want to take on. Doyle said investments would start at £20,000 with a starting fee of around £8,000 for equipment.
Signarama offers two types of franchisee package: a full setup, which includes a front showroom and production facility and comes at a fee of around £110,000 for a licence, plus working capital. It also offers Signarama Light, launched in February this year, which at £60,000 for a licence costs a fraction of the price and allows franchisees to operate a sales showroom without a production facility, something Doyle said has had a lot of interest from a younger audience. Light franchisees can choose to expand to full Signarama UK franchisees later down the line.
Under the new collaborative model a business will be able to choose from either the full or Light package and will be able to keep their own company name but will be expected to display Signarama branding and service areas and adapt their business operations to fit within the franchise model. Break-even would be anticipated in eight months, Doyle said.
“In return for their investment they will multiply their marketing spend, they’ll have access to strategic business support and planning to help them grow and maximise the ROI of their business, they’ll increase their average transaction value, they’ll have training, ongoing support and instant brand recognition,” Doyle said.
“There are so many benefits. We will keep them ahead of the competition,” she added.
Signarama UK has 10 full-licence franchisee businesses with one Light recently opened in Salford and another slated for a January 2018 opening. Doyle said Signarama UK hoped to put together six collaborative partnerships next year.
Launched 30 years ago in the US, Signarama is now a global brand with 900 stores in 60 countries and touts itself as the largest sign and display graphics franchise in the world.