Funding for pilot franchising scheme

AN innovative social enterprise aiming to create jobs in Greater Manchester, by helping 50 unemployed people take on a business franchise, has been given a £150,000 boost.

NatWest and The Royal Bank of Scotland  are providing the cash to FranchisingWorks, a programme which is being piloted in Greater Manchester.

The scheme – part-funded by the Association of Greater Manchester Authorities and NESTA – the National Endowment for Science, Technology and the Arts, aims to cut unemployment by creating new businesses and jobs through franchising.   

Each candidate accepted onto the FranchisingWorks programme goes through a structured training programme designed to equip them with the skills needed to run a franchise.      

FranchisingWorks also provides financial support to buy franchise licences for the candidates who are unable to cover the full cost themselves.Once the new business becomes profitable the candidate can buy the licence from FranchisingWorks to repay the initial investment.   

The funding provided by the banks will be used to help the candidates buy the franchise licences. 

One of the first candidates to complete the programme was Stockport-based Colin Hughes, who was made redundant last November after a 25-year career in various corporate roles

With the help of FranchisingWorks he has started a business called VIP Bin Cleaning, a wheelie bin cleaning service for domestic and commercial customers in South Manchester.

Graeme Jones, head of franchising for NatWest & RBS: “As the leading bank for franchising in the UK, we are delighted to support this initiative that will help a number of local people get back into work by starting their own franchise.

“By helping to reduce unemployment and create new businesses the FranchisingWorks programme has the potential to create a lasting and positive impact in Greater Manchester.” 

Simon McNeill-Ritchie, founder and managing director of FranchisingWorks: “Franchising is a proven way to create local, sustainable jobs. Thanks to the support we have received from NatWest and RBS and others we have already been able to help a number of people in Greater Manchester out of unemployment by starting up their own businesses.

“And as their businesses grow, I expect to see further job opportunities emerge for other local people.”

AGMA hopes the franchise businesses will have created 200 jobs within five years.