Platinum Business Partners: The franchise opportunity

Franchise: Platinum Business Partners
Description: Platinum Business Partners is the UK’s number one e-commerce franchise and can show you how to build your own profitable and sustainable online retail business.
Started in: March 2016
Founder: Steve Bolton
No. of franchises: 110
Coverage: Home-based, global reach
Average cost per franchise: £30,000
Website: https://platinumbusinesspartners.co.uk/

Platinum Business Partners was founded by one of the UK’s leading entrepreneurs, Steve Bolton, in March 2016.

Moving into franchising

So how did you move into franchising?

Only 10% of new business start-ups survive past the first two years. However, according to the 2015 NatWest/bfa Franchise Survey, 93% of franchises are profitable within two years.

Franchising allows you to grow your own business based on a tried, tested and proven model, with an established support system provided by the franchisor.

The directors of Platinum Business Partners (PBP) recognised that the best way to grow this business and to deliver the best possible products and services was to use a system that had already proved itself. PBP is a long-term offering and the chance to benefit from a Power Team and network of like-minded individuals with the same goals and aspirations.

Where did the business open its first franchises?

Our business is located online so we don’t have one specific location but our first franchise was in England.

How successful were those original franchisees?

Some of our original franchisees have completely exceeded expectations and have achieved high results by more than doubling their profit return.

What makes the franchise different/unique?

Platinum Business Partners is the first and only e-commerce franchise in the UK.

What services do you offer?

Currently 99% of those running their own online business aren’t selling enough products to grow a profitable online business. They are often struggling with suppliers and processes and having to learn the hard way.

We’ve learned exactly how the online marketplace works, and what you need to know and do to make it work for you. We know what the risks are and we know how to mitigate these so you can enjoy the maximum return and, ultimately, long-term success.

We’ll show you the right way to:

1. Set up a tax-efficient online retail business
2. Discover the right product and price point
3. Create your own brand
4. Work with discounted suppliers
5. Utilise existing platforms

How big is the market opportunity?

The e-commerce revolution is here and there is currently huge potential for millions of people to sell products online through their own successful businesses, which can be based wherever they are.

How many franchisees do you  have today?

125 with potential to welcome 20 new franchise partners per month.

How is the brand marketed?

Platinum Business Partners is marketed through typical franchise avenues as well as a strategic digital approach.

How do you divide the regions?

As we are based online we don’t divide by regions as this isn’t relevant for us.

The perfect franchisee

What do you  look for in potential franchisees?

This business opportunity takes the least amount of specialist skills – only the desire to learn and follow a plan and commitment to succeed and overcome barriers with our help and support.

The most important criteria is that we like and trust each other and that we understand each other’s values. After all, this is a partnership.

So do franchisees work from an office, or are they home-based? Is it part-time or full-time?

We can help you change the way you work and the way work fits in with the rest of your life. Working hours that suit you gives you the freedom to spend more time having fun, doing the things that you enjoy – wherever that may be.

We will teach you how to sell products online without having to make, handle or ship them and build your own successful online business that can be managed from anywhere in the world, at any given time.

How are franchisees vetted?

Franchisees are vetted through a series of questions assessing key competencies, business acumen and finalised through a one on one meeting at head office ensuring the prospect is right for the franchise and that the franchise is right for the prospect.

What do you offer franchisees that sign-up?

1. A simple, easy-to-access model – all you need to start your business is an open mind, ambition, and as little as £30,000.
2. A fast track to success – our Directors, coaches and mentors all have their own successful and highly profitable online businesses and what they’ve learned, you’ll learn.
3. The complete package – our franchise model gives you a unique blend of expert mentoring, systems and support during its five-year growth plan and access to a community of people just like you.
4. Great returns and long-term growth – following our system you will have the opportunity to achieve sales and profits within months and a growing income for years.
5. We’re in this together – your success is our success, so we give you expert support and guidance on all aspects of your business.
6. You have complete control – you can adjust the size of your business to have your ideal balance of income and time that suits you.
7. A flexible way to earn – you can work when and where you want: around another job, around your family, on the sofa, on the beach or on the move.
8. A family-friendly business – you can also work with your family: one family member can join with you for no extra cost.
9. You’re growing a sellable asset – we’ll help you sell your brand or business for a profit if you decide it’s time to make some capital gains and move onwards and upwards.
10. Endless potential – this tried, tested and proven business model and the global explosion in online shopping is a winning combination.

How much do franchisees pay and what are the ongoing franchise fees?

This franchise opportunity requires the lowest level of start-up capital in relation to the income you could make, the time it takes and the size of business you can grow.

We recommend that our franchise partners have access to a minimum of £30,000.

Our recommended investment amount covers your franchise fee and the cost of setting up, buying and marketing your first products.

Success and growth

How successful are some of the franchisees today?

How much you earn and how much time you commit to your business will be entirely up to you but you can expect to earn £2,000 to £4,000 per month net profit within the first 18 months of trading.

How is the brand looking to grow?

We are looking into developing the e-commerce space in order to add value and innovation to our franchise

What is the potential of the business?

You’ll be in control; choosing how quickly and how much you grow and earn, working when and where it suits you and operating in as many marketplaces worldwide that you wish to.

How much you earn and how much time you commit to your business will be entirely up to you. T

his is an internet-based e-commerce business which will become a sell-able asset in the future but reward you with a substantial income in the process – typically £2,000 to £4,000 per month net profit.

What will the challenges be in achieving that?

The biggest challenge will be preparing franchisees for growth and development.

What awards has the business won?

Platinum Business Partners have been awarded the Top 100 Franchise #75.

To what extent are the founders involved today?

The founders are still very much involved and hands-on with the innovation and development of the business.

Finally, is the company a British Franchise Association (BFA) member?

Yes.