Exciting Escapes use a Grant Fund to investigate franchising…
David & Peter Gale set up Exciting Escapes in 2016 always with a view to grow it and ideally via franchising. Exciting Escapes is, as the name might suggest, a business that operates themed escape rooms.
David and Peter from the start began to have conversations with existing franchisors and consultants and built up their own knowledge and research from the start. Over the next four years they have opened 4 other sites themselves to help prove the business concept. This has allowed them to test the robustus of the model in different locations and test the processes of set-up and build, recruitment, staffing and training; all to be in a position to then move to franchising.
2020 Made it Difficult…
2020 has slightly altered those plans with the sites being closed and then open for a short time but with the brothers and their teams also having to make the sites COVID-19 friendly which they have done. Being closed again in 2021 hasn’t started the year how they have wanted but it has allowed them to take this time to evaluate their strategy and also to do that with some grant funding support.
The Small Business Recovery Grant
Exciting Escapes were able to apply and gained a Small Business Recovery Grant from their local enterprise partnership to be able to commission for the research and development foundation to franchise the business.
They commissioned, Pam Gordon of The Franchising Centre to develop a Franchise Business Blueprint. This document is the foundation of a franchising project in that it creates the financially modelling in setting the initial franchise fee and then on-going fees and also the investment that the franchisor might have to put in to build their franchise network. It also sets out a project plan to get the franchise business set up and to market.
So, if there are any businesses who are looking at growth strategies for the future like Exciting Escapes did, take a look at the business support options available whether loans or grants that could allow you to research and develop a next step strategy with organisations like The Franchising Centre.
The Franchising Centre Can Help
To find out more about how The Franchising Centre could support your business growth strategy via business format franchising then do get in touch.
If you know someone who may be interested in an escape room franchise business, or would like to book an escape room, then do contact David or Peter via excitingescapes.co.uk.
This post was written by The Franchising Centre on there website here. They are an exhibitor on the FranchiseShow247 Franchise Advice & Support floor. You can visit their FranchiseShow247 exhibition stand here.