Now that you have a clearer picture of what is involved in becoming a Monkey Music Franchisee the burning question is probably …
‘But can I make money from running a Monkey Music franchise business?’
The answer is a resounding ‘yes’!
We have around 50 franchises operating in the UK and have regular enquiries from both the UK and overseas. A number of our very first franchisees have recently renewed for a fourth contract period which is an indication of the satisfaction that our franchisees achieve from being part of Monkey Music.
In the last reported accounts, 97% of Monkey Music franchises that had been operating for 2 years or more reported a profit. Of those who had been operating for their first full year, 85% were already reporting a profit.
26% of franchisees operating for 2 years or more reported sales of over £100,000.
Profits of up to 60% of turnover were reported for tax purposes in the latest filed franchisee accounts.
We continue to grow organically with an increase of 6% in average franchisee turnover reported for this last financial year.
This growth doesn’t occur without investment and innovation and the last five years has seen heavy investment by the Head Office Support Team in:
- A new website and CRMS & online booking system
- A complete revision and extension of all marketing material
- Launch of customer members club with partner opportunities
- A curricula upgrade
- Appointment of new specialist Head Office Support Team members
A profitable Monkey Music franchise can be sold as an ongoing concern with the potential for significant return on the original investment.