Oyster card takeover prompts franchising advice
By: Joe Elvin
28 October 2011
Owners of successful franchises have been encouraged to consider targeting wider audiences in order to increase their revenue.
Cathryn Hayes, who is head of franchising at HSBC, has stated that there are many entrepreneurs who have benefited from purchasing regional or even international franchise agreements and gaining revenue from more than one business.
Hayes was speaking shortly after the new Dutch owners of the Oyster Card franchise announced that the service would be extending beyond London.
In an article for selectyourfranchise.com, she claimed that nearly all of the best UK franchise opportunities would work just as well in other areas of the UK or even in a foreign country.
She said: "International franchising can provide brand owners with a welcome cash injection and a regular, predictable income stream, without the risks, investment and resource commitment of establishing their own presence overseas.
"As well as enhancing a brand - providing its reputation stays intact - franchising can be a way to spread development costs across a wider set of markets."
The Haringey Independent report that Dutch travel company Abellio will take control of the Oyster Card franchise in February. Once the takeover is complete commuters will be able to use their Oyster Card on trains to locations as far afield as Cheshunt and Hertford East.
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