Primark – Do They Franchise?
For many consumers, Primark is irresistible. The clothes mirror the latest trends featured in fashion magazines at a fraction of the cost of other high street stores. This has resulted in a culture of disposable fashion. Shoppers can afford to buy the clothing of the moment, wear it a few times and then discard them ready for the next fashion trend.
Primark opened its first store in Dublin in 1969 under the name Penneys. Following its success in Ireland, the brand opened its first store in the UK in Derby back in 1973. However, due to another company called J.C. Penney owning the rights to the name outside of Ireland, the Primark brand was born for use in the UK and Europe.
Primark now has more than 350 stores worldwide and is continuing to grow. The retail giant began its rapid expansion in the UK throughout the 2000s. In 2005, Primark owners, AB Foods, bought the Littlewoods retail stores for £409 million, keeping 40 of the 119 stores and selling the remainder.
In May 2006, the first Primark store to be opened outside of the UK and Ireland was launched in Spain. There are now stores in Germany, Franchise, Portugal, the Netherlands, the US, Belgium, Austria and Italy.
Primark is continuing to grow and expand across Europe and beyond thanks to its diverse product range. Stocking everything from beauty products to clothing for all the family, this is a value brand, which is loved, by young and old alike.
Following strong sales towards the end of 2017, Primark is set to become the UK’s second-biggest clothing retailer in 2018.
Primark currently holds a 6.9% share of the clothing market by value, just behind Next, which holds 7.1%. A strong performance in 2018 could see Primark overtake Next who are sitting just behind Marks & Spencer who remain the UK’s largest clothing retailer with an 8.1% share.
Affordable prices, fast fashion and a new makeup range have helped Primark to perform better than their rivals. This performance is even more impressive as Primark doesn’t sell online which is the source of most sales growth for other clothing retailers.
Primark uses social media heavily to tempt shoppers into stores. The brand has 11 million followers, with Instagram being the most popular platform used to interact with its audience. The number of Primark’s social media fans is growing at a rapid pace as young people increasingly use their mobile phones to browse fashions before hitting the shops.
And with Next, Marks & Spencer and Debenhams all closing stores, Primark are continuing to grow both in the UK and overseas. Being able to respond quickly to consumer demand and keeping their prices steady has made Primark a force to be reckoned with.
Is Primark a franchise?
No. There has never been the opportunity to invest in a Primark franchise despite a recent scam attempting to fool aspiring entrepreneurs into thinking there is. Primark has responded by putting a message on their website stating that a third party (with no affiliation to Primark) has been offering to sell franchises to the Primark brand. They warned that this was a scam as Primark owns and operates all of its retail stores and therefore there are no Primark franchise investment opportunities.
Primark franchise cost
As you can’t buy a Primark franchise, there is no way to estimate what the cost would be if one should exist. However, other retail store franchises are seeking franchisees at the moment to suit all budgets. Here are just two of the opportunities that you may want to consider:
Minimum investment: £40,000
Noa Noa is a Danish-inspired fashion franchise that appeals to a predominately female market and specialises in modern, bohemian styles that communicate confidence and an appreciation for self-expression. The brand operates in 20 countries, boasts more than 60 unique concept stores and also has a presence in over 400 multi-brand stores.
Becoming a Noa Noa franchisee requires between £50,000 and £100,000 of investment. This grants you access to the entire Noa Noa franchise package and the right to operate under the brand name, as well as to use its trademarks.
You’ll also receive a considerable amount of support to get your new business off the ground. You’ll attend training on purchasing analysis and planning, marketing, visual merchandising as well as how you should recruit and train your employees. A designer and visual merchandiser will also visit your store before your launch to ensure that it looks perfect for your opening day.
If you’ve got an eye for design and would like to help women to find their own style, then a Noa Noa franchise could be just the opportunity you’ve been looking for.
Minimum investment: £350,000
One of the most prominent brands in women’s luxury clothing is Karen Millen. Giving its customers the chance to own high-end fashion pieces for high street prices, this is a brand that is globally renowned for quality.
If you choose to invest in a Karen Millen franchise, you’ll become one of over 400 stores and concessions located in 63 countries across six continents. You’ll get to attend a unique training programme, which covers business and sales techniques as well as other skills needed to run a profitable fashion franchise.
Due to the reputation that Karen Millen has built up, they’re looking to partner with talented individuals who have experience in retail selling and a good background in management. You’ll also need to have sufficient monetary funds to contribute the minimum investment of £350,000.
So, if you’re passionate about quality clothing and have a flair for customer service, then a Karen Millen franchise may be right for you.
The Editorial Team, Point Franchise ©
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