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About Mr Arkwright’s Tool Emporium
In 2012, carpenter and property developer Clive Owen opened a traditional tool and hardware shop in Harrogate, North Yorkshire.
After trading successfully for a while, he decided to change the name of the business to Mr Arkwright’s Tool Emporium and in 2014 opened the first rebranded store in the centre of Leeds.
Today and headed by Clive, who is now managing director, the three company-owned outlets sell approximately 7,000 household and garden products in store and 50,000 online.
Clive is assisted by a management team that includes Michael Ziff, the company’s executive chairman. An experienced retailer, Michael held senior positions at Debenhams, before becoming CEO of Stylo Barratt, which had 150-plus UK stores and turned over £200m annually at its peak.
He’s also non-executive director of Town Centre Securities, which owns and manages a number of retail properties, shopping centres and car parks, and is chairman and chief executive of business brokers franchise, Transworld Business Advisors,
According to the company, Mr Arkwright’s Tool Emporium is a ‘friendly, local alternative to the large DIY outlets operating in the UK’.
It’s a provisional member of the British Franchise Association.
How does the Mr Arkwright’s Tool Emporium franchise model work?
Investors have the choice of running a single-unit franchise, which requires the franchisee to be hands-on in the business, or a multi-unit management franchise that serves a whole region, with each individual store being run by a full-time manager.
Franchisees can opt for a city centre shop, which is based on Mr Arkwright’s Tool Emporium’s flagship store in Leeds, or an outlet based in the suburbs, which is modelled on the company’s second Leeds store on the outskirts of the city.
Part of Mr Arkwright’s Tool Emporium’s comprehensive franchise package is a supply chain that’s already been established on behalf on the franchisee network with manufacturers and distributors in this sector, which deliver orders direct to stores.
Why is the Mr Arkwright’s Tool Emporium franchise a good investment?
Like many franchises, the Mr Arkwright’s Tool Emporium opportunity has been developed and refined so that all franchisees need to do is follow the tried and tested system devised by the franchisor, safe in the knowledge that assistance is available if required from an experienced support team.
Simple to run, this franchise is a potentially high turnover business with substantial profit margins, thanks in large part to Mr Arkwright’s Tool Emporium’s supplier relationships and purchasing power. In addition, franchisees can earn an income through online sales via their own website, which is set up by the franchisor.
At the end of their franchise agreement, franchisees have an established business that’s a saleable asset (called a franchise resale). However, bear in mind the franchisor has the final say on who purchases the franchise.
From a customer point of view, a Mr Arkwright’s Tool Emporium will appeal to individuals who appreciate the convenience of an outlet local to them that combines a comprehensive range of products with competitive pricing and excellent customer service that’s delivered in a friendly manner by experts in the field.
What skills do I need to become a Mr Arkwright’s Tool Emporium franchisee?
Franchisees need to be commercially aware, self motivated, good communicators, dedicated to delivering excellent customer service and be able to follow a proven system.
What locations or territories is Mr Arkwright’s Tool Emporium looking to operate in?
The company has franchise opportunities available throughout the UK.
Where in the UK is the Mr Arkwright’s Tool Emporium franchise based?
Mr Arkwright’s Tool Emporium is based in Leeds, West Yorkshire. Its franchise recruitment and support departments are based in London.
What training and support do Mr Arkwright’s Tool Emporium franchisees receive?
Initial training, which teaches a franchisee everything they need to know about running a Mr Arkwright’s Tool Emporium business, takes place at the company’s stores in Leeds and Harrogate. The cost of accommodation and all meals are included in the initial investment.
The franchisor assists with locating a suitable retail site and fits out the shop, which includes external signage and a modern EPOS and CCTV system.
Mr Arkwright’s Tool Emporium’s team of business consultants provide ongoing marketing and operational support as and when required. Regular conferences are organised for franchisees to share best practice and update the network on the latest industry developments.
Also part of the franchise package is a quantity of promotional materials and stationery, an ecommerce website, operations manual and a range of stock that has a retail value of around £200,000.
What are the Mr Arkwright’s Tool Emporium franchise’s terms of agreement and renewal?
The initial franchise agreement lasts for five years and contains an option to renew.
What is the earnings potential of a Mr Arkwright’s Tool Emporium franchise?
Mr Arkwright’s Tool Emporium quotes the following figures as an illustration of the earnings potential of its franchise:
• Year one turnover: approximately £200,000. Pre-tax profits of around £36,000.
• Year three turnover: approximately £400,000. Pre-tax profits of around £72,000-plus.
• Gross profit margins are in the region of 60 per cent on average.
Is bank funding available for the initial franchise fee?
Yes, as Mr Arkwright’s Tool Emporium has good working relationships with the banks in the franchise industry, which look favourably on finance applications from prospective franchisees.
How can I get started on setting up my own Mr Arkwright’s Tool Emporium business?
The company’s methodical approach to franchisee recruitment is designed to find the right partners to work with and get them up and running as soon as possible.
During the process, the franchisor will want to know more about your experience, skills and why you want to become a franchisee. Candidates will speak on the phone or via Skype with Mr Arkwright’s Tool Emporium’s franchise director, which is followed by a face-to-face meeting with senior members of the company’s staff in either Leeds or London.
Before the franchise agreement is signed and the franchise fee is paid, would-be franchisees are invited to visit a Mr Arkwright’s Tool Emporium shop to experience the business first hand. They are also provided with detailed information about the business, which includes projected profit and loss statements and professional references.
To find out more or to request further information on franchising with Mr Arkwright’s Tool Emporium, click the ‘Send Enquiry’ button now.
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