Driver Hire celebrates thirty years in franchising
May 19, 2017
Driver Hire, transport & logistics recruitment business, is celebrating a special anniversary. It’s thirty years since Driver Hire sold its first franchise – in Newcastle. Since then, its network has grown to 100 offices across the UK.
“In the 1980s Driver Hire’s founders wanted to expand. They saw that franchising was a great way to do this,” says Driver Hire’s Chief Executive, Chris Chidley. “Over the past thirty years we’ve helped hundreds of people from all walks of life fulfill their dream of running their own business. The strength of the brand and our business model means that we continue to generate large numbers of enquiries from new entrepreneurs wanting to become part of the Driver Hire success story.”
And a success story it undoubtedly is. The Driver Hire network has just completed a fourth record trading year. Turnover for the financial year ended March 2017 was £100.5m – the first time its UK network has exceeded the £100m turnover mark. Nearly half of its franchisees are celebrating annual turnover in excess of £1m. This compares to the industry average of £378k (bfa/NatWest Survey 2015).
The average price you’d now expect to pay for an established Driver Hire office, as a resale, is around £175,000; a licence for a new start franchise is £32,000. Back in 1987, Driver Hire’s Newcastle franchise was sold for £5,000. Thirty years on, Driver Hire continues to lead the way as a franchisor.
“Estimated turnover generated by Driver Hire franchisees over the past twenty years alone totals in excess of £1.14bn,” Chris Chidley comments. “Looking around our network in 2017, we have eight franchisees who’ve been with us for over 20 years. That does, I think, speak volumes about the long-term value of a Driver Hire franchise. What’s more, we continue to invest in new systems and products to ensure that our franchisees are able to offer a premium service to their customers, ensuring their longevity as a business investment.”
Congratulating Driver Hire on this special anniversary, bfa (British Franchise Association) Chief Executive, Pip Wilkins, added: “The success that Driver Hire have had over the past thirty years is a testament to the hard work and dedication that the team have put in. As long standing bfa members they have had great success in our Franchise Awards, proving their passion for ethical franchising and an excellent support system for their franchisees. I wish them every success for the next thirty years!"