Another new franchise is about to hit the High Street. We preview this new opportunity.
“I believe we are about to revolutionize the book trade.” __H__. He has reason, it seems, to speak so strongly. The company he heads up is within days of starting its franchise plan. Tylers Bookshops is going to follow the tested path of using franchising to expand quickly and successfully across the country.
At present, there is some cause for concern in the book trade. __9__. “The market remains fragmented with several bookselling chains and some 3,000 independent bookshops,” he explains. “The launch of our franchise will offer people the opportunity to run their own retail book business, but with the benefit of our knowledge, support and experience.”
Tylers Bookshops has 25 High Street outlets, employs around 300 people and enjoys a turnover in excess of ￡46 million. While their place in the market has come under threat, Tylers is confident that its image as a 'local family bookshop' will guarantee its continuing success. Reports certainly indicate that traditional bookshops remain very popular and that price is a secondary consideration for the book-buying public. __10__. They know what they want and don't mind paying for it. It's a large market, too. Book Business Ltd. has found that 80 per cent of adults bought books last year. The number of new books published every year has doubled in a decade and there are some 800,000 titles currently in circulation.
Meanwhile, the Publishers' Organization has predicted the book market will be worth over ￡10 billion within 3 years. __11__. The new scheme has been welcomed by the industry. Mary Parr, executive chair of the publisher Scott and Thomas, says:“ After 30 years in bookselling, Tylers have shown themselves to be one of the most innovative businesses in the trade. Their franchising scheme looks set to be one of the most exciting new developments that we have seen for many years.”
So, how do you become a Tylers Bookshops franchisee? The total investment required adds up to ￡150,000. __12__. Mr Tyler explains further. “The training program for franchisees is extremely thorough, taking two months, in which they will learn about buying, merchandising, promotions, understanding publishing patterns and seasonal trends. __13__. Following their training, franchisers will continue to receive help, information and advice, drawing on central services in buying, marketing, IT, administration, property, human resources and accounting.”
Whether Tylers Bookshops “revolutionizes” the industry or not remains to be seen. __14__. It will also, of course, create new opportunities for those who are willing to seize them and who have the time, money, energy and comm.
A This group of consumers forms a lucrative market.
B New sources of competition have emerged to threaten traditional bookshops, according to Mr Tyler.
C Whatever the outcome, its decision to go along the franchise route will be keenly monitored by rival firms.
D Tylers, with its new franchise strategy, clearly seeks to capitalize on this potential. |
