YORK MAN SNAPS UP PRIZE IN FRANCHISE FINALS

Media Release - 8 October 2004

A former York-based apprentice garage mechanic, who left school at 15 with no qualifications and who is set to turnover a million pounds a year, yesterday won a prize in a top national business competition, backed by HSBC bank, the second largest bank in the world.

Simon Stack, who operates the Snap-on Tool franchise in the York region, won joint second place in the British Franchise Association’s Franchisee of the Year Awards 2004, sponsored by HSBC and supported by the Daily Express.

Simon’s success in the Awards marks his 21st anniversary as a Snap-on franchisee. He is now aiming to be Snap-on’s first franchisee to turnover a million pounds next year.

The award was presented to Simon by Cathryn Hayes, HSBC’s national franchise manager, at a gala dinner at the ICC in Birmingham last night (7 October). HSBC has provided financial support and advice to franchisors and franchisees in the UK for over 20 years and has more than doubled its lending to the sector during the first half of 2004.

Speaking after the awards, Terry Barcham, Snap-on’s managing director said: “Simon started out very much as a “man with a van”, but he has fully embraced the opportunity with Snap-on to develop his business as a management franchise. He has grown with us and he is an excellent role model for other franchisees within the network. He has proved how successful franchising can be.” More/…

In presenting the awards, Cathryn Hayes, national franchise manager at HSBC, said: “Franchising gives people the opportunity to make the most of their entrepreneurial talent, but with fewer risks than starting their own business from scratch. As a leading lender to the franchise sector, HSBC recognises that the hard work, enthusiasm and business nous of people like Simon will help turn a good franchise into a great franchise. He deserves his success.”

Simon left school to start a three-year government-backed apprenticeship as a garage mechanic, his apprenticeship came to an end a few months before his 21st birthday and he ended up going into franchising. Today he has a turnover of £3/4m and says that he has beaten off most of the competition.

Simons says he used to have five competitors but this number has shrunk to one. His experience supports research from Snap-on, which reveals that 75 per cent of all mechanics in the region own a Snap-on toolbox.

With the support of Snap-on, Simon now operates three mobile sales units and has access to more than 20,000 products. A sophisticated computer ordering system ensures that he is adequately stocked on a regular basis.

Already carrying out more than 600 regular weekly visits, he plans to add two more vans to his fleet and says that he intends to become more involved in management and will concentrate on technical support.

The theme for this year’s awards was “Beating the Competition – How Franchising Makes A Difference.” The Awards are judged by a panel chaired by the British Franchise Association’s president, Sir Bernard Ingham.

ENDS

Notes to editors:

1. The British Franchise Association Awards reward franchisees that demonstrate outstanding commercial achievement through ethical franchising and are sponsored by HSBC Bank and the Daily Express. The theme of this year’s competition is “Beating the Competition” – How Franchising Makes A Difference”.
2. Other winners in this year’s awards were:

   1st place, Michael Roney from Driver Hire, Northamptonshire and Cambridgeshire;
   Joint 2nd place, Jack Glen from McDonald’s, Hamilton;
   3rd place, Adam and Ruth Brenner, Prontaprint, Newcastle.

   The following were highly commended by the British Franchise Association, HSBC Bank and the Daily Express:
   Mark Meredith from Apollo Blinds, Stoke-on-Trent; Craig Collins from Cartridge World, Exeter, Exmouth and Plymouth; John Murray from Cash Generator, Airdrie and Wishaw; Robert Bates from Clarks Shoes, Abergavenny, Brecon, Merthyr Tydfil and Exmouth; Ian Michael and Richard Ball from Countrywide Grounds Maintenance, Neath Abbey, and; David and Jacqui Henshaw from National Schoolwear Centres, Swindon.

3. The HSBC Group HSBC Bank plc is a wholly owned subsidiary of HSBC Holdings plc, and a member of the HSBC Group. Serving over 110 million customers worldwide, the HSBC Group has approximately 10,000 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$1,154 billion at 30 June 2004, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.
4. For further press information on HSBC’s support for franchising and/or an interview with Cathryn Hayes please contact: Alex Bellinger, Media Relations Manager, HSBC on 020 7991 0654.
5. To contact Michael Roney please call 01604 670199.