The Directors are focused on growing Belvoir through increasing its Management Service Fee (MSF) revenue; that is, the fee charged to each franchise owner on a monthly basis and which is a percentage of its gross fee turnover, and increasing the number of Franchisees in the UK, particularly in London and the South of England.
During 2010, the Directors set about strengthening the recruitment team, implementing various marketing and branding initiatives and increasing awareness of the Belvoir brand on a national scale.
Use of the NPF to raise brand awareness benefits each of the franchises as well as Belvoir and is funded directly by the Franchisees.
Therefore the Group’s immediate strategy is threefold:
- To expand the Belvoir Network through appointing Franchisees in new territories;
- To increase the MSF revenue through additional support to grow the businesses of individual Franchisees’; and
- To establish a number of Belvoir owned outlets in addition to the Grantham office, which could be franchised in due course or retained for the long term as Company-owned branches.