Barking Mad Ltd are celebrating the recent completion of an innovative deal to export their business model to the USA. The company’s International Partnership Programme officially launched in October 2010 and. with training and research completed, the system in the states is now open for business.
The project involved the business model being sold on a non-compete ‘Teaching System Agreement’ where international partners invest allowing complete access to the unique Franchisee and Franchisor intellectual property. Lee Dancy, managing director and founder of the UK company, said: “We are thrilled to announce what is a fantastic deal for all concerned and promotes our company to a whole new level. We haven’t sold a Master License, nor have we sold our trading name, our arrangement is simply based upon providing our know-how so they can fast track to launch, trading under a different name.”
The deal is different from a typical Master License Agreement in that it provides far greater flexibility with no necessity to pay on-going fees and no onerous, monthly reporting. Partners
have the freedom to select a business name and term appropriate to their country and the
ability to adapt the system to meet their local market demands. They also benefit from
the traditional exchange of best practice with other business partners and full training
and disclosure of the Barking Mad system. The foreign business partner’s first pilot franchise is due to launch in late 2011.