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Money Matters

Starting off in business for the first time can seem quite daunting and not all people will have the full range of skills necessary to deal with the various aspects of running a busy franchise.  That's why it is important to choose a franchisor who can offer you access to the resources and training that you will need for the transition from employment to self- employment, then provide a comprehensive range of ongoing support services.

Minster Cleaning Services has used its 30-plus years' experience in the industry to establish systems that simplify many of the important day-to-day business activities. Managing director Mike Parker explains: “We provide support covering IT, accounts, marketing, operations and training, as well as professional advice on employment law, health and safety, and environmental legislation.  This leaves our franchisees free to concentrate on building a valuable asset – they all have the opportunity to build substantial businesses and many have achieved annual sales of over £1million.”

Finance touches nearly every aspect of business and yet it is a discipline of which franchisees are often wary.  New franchisees get help and training on a range of fiscal matters including vat registration, payroll, banking, pensions and accounting software.

Once the franchise is up and running, the head office finance team initially keeps in touch weekly and makes regular branch visits to review progress and provide assistance. They also provide on-going daily telephone support and can connect directly to the franchisee's computers to help them with any queries.

Minster accountant, Andrew Godfrey says: “We actively encourage franchisees to prepare their own financial information so that they can get a better understanding of their business.  We want all our franchisees to get the very best possible return on their investment.  With our extensive range of financial controls, we can help to ensure that they are not only producing growth but also have a successful and profitable business.”

Average annual branch turnover is now approximately £800,000 and annual turnover at Minster Cleaning Services has reached £33million.  With a reputation for integrity and professionalism, it is one of the country’s most successful franchises and a leading force in office cleaning.

Minster was established in 1982 and has been a bfa Full Member since 1992.  The company offers prospective franchisees a safe and secure future whether buying a branch resale or choosing a new area.  Office cleaning is an essential commercial service that attracts clients from a broad range of sectors whatever the economic climate, and Minster’s exceptionally large territories give enterprising franchisees virtually unlimited scope for expansion in the massive UK market.

Minster franchisees come from a wide range of professions but all have people-management abilities, commercial awareness and determination in common; important attributes for a management franchise where some branches employ well over 200 people.  

On average, franchisees have been with Minster for 12 years and some longer serving franchisees are planning their retirement.  As a result, there are currently established franchises available for resale in Bristol, Dundee, Hertfordshire and Liverpool at a fee of £10,000 plus vat in addition to the purchase price of the business.

New franchise opportunities include Cambridge, Doncaster, Durham, Leicester, London, Middlesex, Guildford, Peterborough and Swansea.  Initial start-up cost is £28,225 plus vat which covers licence, training, computer software and hardware, stationery, machinery, equipment and materials.  In addition, between £40,000 and £60,000 working capital will be needed – finance is available from leading banks subject to status.

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