HiQ celebrate network milestones at 2nd anniversary national conference
7th December 2010
The HiQ fast fit network announced a number of historic milestones in the development of the only hard franchised fast fit network in the UK, at the network's second National Conference of 2010.
HiQ's franchisees met at Crewe Hall in Cheshire for a two day conference of workshops and business forums.
Peter Tye, the newly appointed HiQ Retail Director welcomed franchisees and announced a series of milestone wins for the network on the second anniversary of it becoming a fully franchised operation.
Peter announced that the network now stood at 150 centres run by 51 franchise businesses - growing from a base of 33 centres run by 22 franchisee less than two years ago.
He cited that the success of the network growth strategy was down to consistency in delivering HiQ's core values of innovation, growth and partnership.
He welcomed the owners of 10 new franchise sites and announced that interest from the market remained high with increasingly active interest from car dealers looking for a multi-brand fast fit opportunity.
He referenced the success of this strategy to date in not only driving the growth targets but also in the achievement of significant business growth across the retail network.
Peter announced the third quarter performance trading results and confirmed that HiQ continued to outperform the market for the third consecutive quarter.
Market data revealed that like for like sales across the industry were down by 1 per cent, while HiQ had actually achieved an overall increase of 3.8 per cent.
HiQ's Retail Finance and IT Manager Sam Bouch added that footfall had increased by 6.1 per cent from January to November this year compared to the same period in 2009.
Year on year turnover like for like increased by 5.8 per cent while gross profit increased by over 8 per cent.
"These figures represent a massive achievement and are testament to the hard work that all of our franchise partners are carrying out.
"We have all been working through some difficult economic conditions, which makes these results all the more impressive.
"The market is improving, but it is still difficult out there. However, HiQ is outperforming the market which is great news for us."
Peter concluded "I am looking forward to seeing some more great results in 2011 as our local entrepreneurial heroes coupled with our strong national brand continue to make a difference.
"Our partnership based structure will continue to play a huge role in everything we try to achieve and our franchise model is one that continues to reap rewards."