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, 98% of Monkey Music franchises that had been operating for 2 years or more reported a profit. Of those who had been operating for only one full year, 40% were already reporting a profit.
28% of franchisees operating for 2 years or more reported sales of over £100,000.
Profits of up to 53% of turnover were reported for tax purposes in the latest filed franchisee accounts.
We continue to grow organically with an increase of 13% in average franchisee turnover reported for this last financial year. We’ve already mentioned that average franchisee turnover has increased by 50% over the last 5 years and we see no reason for this trajectory not to continue.
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:
Over the last 5 years the average Monkey Music franchisee turnover (sales income) has increased by 50% whilst the overall economy has shrunk by 2.5% in this period*. This figure also compares very favourably to national British franchising statistics of just 9% growth* in average UK franchise turnover (*latest NatWest bfa Franchise Survey)
The recent winners of the Monkey Music Franchisee of the Year Awards continue to break records, with a turnover of over £200,000.
A profitable Monkey Music franchise can be sold as an ongoing concern with the potential for significant gain - franchisees historically achieving up to £72,000 in sale proceeds.
Year-on-year the number of children who attend our weekly classes grows, and is fast approaching 20,000 per year.
Monkey Music has been a FULL member of the bfa since 2004. Angie Coates, CEO & Founder, is a member of the bfa Board and the Monkey Music directors have been keynote speakers at bfa events.