Trevor Skidmore, the Cloudy2Clear window franchise owner for the Northampton area has been left ‘shocked but delighted’ by the news that his business has been valued at over £100,000, more than five times the franchise fee.
Trevor comments, ‘I’d never considered having the business valued to be honest, we’re just busy getting on with the job locally!’
‘The exercise was commissioned by Cloudy2Clear Head Office as they wanted to demonstrate to everyone in the network that we were building real businesses with a value that could, if we so wished, be sold on at some point. Many of us treated it as a bit of a laugh and weren’t expecting much, this came as a real shock.’
More impressive still is that Trevor has achieved this figure in the last three years alone, at the height of the recession. ‘The valuation is based on the last three years accounts and I have seen a leap in demand over this time. It’s amazing to think that while I’ve been concentrating on building a profitable business which gives me a very nice return indeed that this figure has effectively been building up in the background. The guys at C2C have been instilling into us for some time now the fact that profit is the driver, not turnover, and it seems all the initiatives we’ve put in place together are really paying off.’
So, does Trevor intend to cash in on his investment? ‘Not on your life’, he laughs, ‘There’s exciting times ahead in the C2C Group and I have a very clear plan to expand, not just within my own area but I have been looking to open further branches in other areas too. Cloudy2Clear actively encourage us to open multiple branches when the time is right and this has really spurred me on. Having done the hard part and got the first business established I’m really looking forward to moving on to a second area and then possibly a third. If they were all valued at a similar sum… well, I don’t think I need to do the maths for you.’
Cloudy2Clear Director Martin Waite is equally delighted. ‘It’s great that that all the hard work our Franchisees put in is reflected in these sorts of figures. We’re very conscious that to build a sustainable network our franchisees need to maximise their profitability. Not only does it mean that they get the best return on their investment that they can but it also helps us grow across the country as potential new Franchisees can see the rewards they can expect if they join us’, he says. ‘At the end of the day any Franchise should be a true partnership where everyone succeeds, not just one side or the other and I’m proud to say that our organisation is moving forward very quickly with everyone sharing in the benefits’.