Superbrand franchise opportunities are a sound investment

A partnership with the world's premier audio-visual brand is one of franchising's most high profile opportunities. Jason Smith, Bang & Olufsen's sales and distribution development manager, answers prospective franchisees' most frequently asked questions

What percentage of Bang & Olufsen s current UK retail network is represented by franchisees?
——————————————————————————————————————-

Today the vast majority, some 90 per cent of our store network across the UK, is operated by our franchise partners.

For someone wanting to join the network, what do you feel are the key requirements?
—————————————————————————————————————

Obviously you need to have a strong interest in new technology, but I would say you also need a real passion and desire to deliver the ultimate retail and buying experience for customers. All this has to be underpinned with strong commercial acumen.

How much support can a new franchisee count on from Bang & Olufsen, both in the short and longer term?
———————————————————————————————————————

At Bang & Olufsen we view our relationship with our franchise distribution network as a partnership. Support is ongoing from the day someone joins us and for as long as that business relationship continues. Support comes in many different forms, far too many to list here, but each region is assigned a dedicated regional development manager who on average looks after around zo stores. On a day-to-day basis, he or she is the point of contact for a franchisee and is there as a vital support mechanism to help to drive their business forward.

Where do you feel the main growth areas exist in the audio-visual sector?
————————————————————————————————————-

At Bang & Olufsen we have a unique ability to provide our customers with a total a-v solution on a bespoke basis. Our growth is therefore only limited by the ability of our partners to understand and recognise what customers require and the potential options available to them.

More specifically, multi-room, multi-zone audio-visual solutions are becoming an increasingly important part of our business as customers become more aware of the digital revolution. Customers today want an ‘intelligent’ home where their Bang & Olufsen remote control not merely turns their television or music system on and off, but can control lighting in a room, is able to close the curtains or blinds and at the same time adjust the heating. All of this is possible with Bang & Olufsen.The limitation is not with our customers, it’s with the franchisee and his or her recognition of what that customer really wants or desires.

Why do you feel Bang & Olufsen offers better opportunities than other brands in this market?
——————————————————————

Bang & Olufsen is unique in its sector. Yes, of course we sell products that appear similar - they show a picture or provide sound or music content - but that’s where the similarity ends. Our product design and development is far more demanding. In a design sense our products must appeal to the eye and the heart and still look good in their changed environment and surroundings in five,10 or even 20 years time. But they also have to deliver strongly in performance terms, and be durable and reliable enough to stand the test of time. But even that’s only part of the story.

Our products must work alone or together, satisfying the continuing needs of our customers to add to their collection of Bang & Olufsen products. Currently an amazing 55 per cent of our business comes from existing clients. What other a-v brand can say that? Did I also mention the profit margin that a franchisee partner with Bang & Olufsen can expect, compared to that offered by rival brands? Our business opportunity is unique and unparalleled in so many areas.

Is there a channel through which franchisees can influence decisions on issues such as sales and marketing?
———————————————————————————————————————-

Yes. Bang & Olufsen consistently listens to what its partners have to say via dedicated marketing forums, general dealer meetings and on a direct basis through the regional development manager, or any of the senior management team.

Given the economic downturn, why would this be the moment to join the Bang & Olufsen network?
——————————————————————————————————————

The economy has been turbulent for around three years and during this time Bang & Olufsen hasn’t been isolated from the effects of the downturn. However, this has meant we have had time to refocus, both in terms of what we are offering to customers and how we provide our products and services via our business partners. Those looking for a business franchise opportunity where the products and the brand offer unrivaled desirability and excellence in design, performance and integration need look no further.