Co-op to roll-out franchise model
NamNews - Feb 13th, 14:40
The Co-op has confirmed that it is looking to develop a network of franchise stores following successful trials of the model.
The society has launched a recruitment programme for independent retailers with the aim of creating a “significant number” of new Co-op branded stores under its franchise offering. These will be on top of its recent announcement to build around 100 new owned stores in 2019.
The Co-op began trialling its franchise model last spring, with its fourth store opening this month. It claims these stores have seen a minimum 50% uplift in sales.
To become a franchise, retailers must have a store with a sales area of over 2,000 sq. ft., generating a weekly turnover of at least £20,000. They must also “share the Co-op values and principles”.
As part of the Co-op network, store owners will benefit from support on merchandising and branding, and access to the society’s EPOS and back-office services. They will also be able to stock the Co-op own brand range, which is already available to around 4,000 stores following its acquisition of Nisa.
Meanwhile, franchised stores will be able to offer shoppers the same access to the Co-op’s membership scheme, which provides a 5% reward on any purchase of own brand lines.
The move marks the first time the Co-op has licensed its brand to independent retailers in its 175-year history. Martin Rogers, Head of New Channels, commented: “This is a significant milestone in our franchise ambition and we’re looking for the right retailers in the right locations to share in our success and help widen the reach of Co-op products.”
He added: “We now have the capability to deliver franchising at scale, offering our award-winning food, in new places to attract new customers and members.”KamCity
South Africans are spending less on their weekly shopping trip
23/05/2019 - 09:44
Tiger Brands, which carries brands including Koo canned foods, All Gold, and Tastic rice, said that revenue from continuing operations fell 2% to R15.4 billion in the interim period.
Bidcorp expects higher food inflation in SA
23/05/2019 - 09:16
Global food-services group Bidcorp expects rising food price inflation in SA, where food producers and retailers are grappling with higher costs and low selling price increases.
Nike and Adidas join 173 US shoe retailers in call to avoid ‘catastrophic’ tariffs
21/05/2019 - 12:23
Nike, Adidas, and other footwear giants urged President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would be “catastrophic for our consumers, our companies and the American economy as a whole”.
Rhodes Food Group reports slight decline in net profit
21/05/2019 - 09:59
Rhodes Food Group, which makes Bull Brand corned meat and Bisto gravies, says profit after tax was slightly down in the six months to end-March despite better sales.
Walmart reveals plans for a new corporate campus
20/05/2019 - 17:04
Corporate America has been under political pressure to ramp up investments at home.