Brooke Franchise Corporation Announces Results
Posted on: 18/08/2006
Shawn Lowry, president and chief executive officer of Brooke Franchise Corporation, a subsidiary of Brooke Corporation, has announced selected July 2006 results.
Lowry announced that Brooke Franchise Corporation assisted franchisees in the start up of businesses in July in the states of California, Colorado, Florida, Georgia, Missouri, Ohio, Pennsylvania, Texas, Virginia and Washington. Brooke Franchise Corporation added 16 start up franchise locations in July and received approximately $2,485,000 in fees, consisting of $2,430,000 in initial franchise fees for basic services and $55,000 in other associated fees.
Additionally, Lowry announced Brooke Franchise Corporation received profit-sharing commissions totaling approximately $161,000 from insurance companies in July 2006. Lowry noted Brooke Franchise typically receives a majority of its profit-sharing commissions during the first quarter of its fiscal year.
Lowry also announced a decrease in combined same-store sales for seasoned converted franchises and start up franchises of approximately 3.3 percent for the 12 months ending July 31, 2006, and a corresponding median growth rate of negative 1.2 percent. Same-store sales calculations exclude profit-sharing commissions.
Brooke Brokerage Corporation, which provides consulting services unrelated to the franchise business, received approximately $1,681,000 in non-franchise related consulting fees during July 2006.
About our company. Brooke Franchise Corporation is a subsidiary of Brooke Corporation (Nasdaq: BXXX) that distributes insurance and related services through a network of more than 650 franchise locations. The Brooke organization was founded on the belief that local business owners distribute insurance and related services more efficiently than others if supported by a franchise system.
New Franchisees On The Cards!
Card Connection attracts record number of new franchisees.
Leading greeting card publisher and franchisor, Card Connection, today revealed it has already recruited ten new franchisees for territories across the UK since January – more than in any other previous year. This announcement follows news that the Company recently recorded its highest ever number of sales with Card Connection’s network turnover now topping more than £12 million.
“One of the reasons Card Connection is proving such a popular choice amongst potential franchisees is our consistent growth record combined with our prestigious national account portfolio,” confirms Dave Galvin, Card Connection’s senior business development manager. “The fact that Card Connection is the preferred greeting cards supplier to major retail chains such as: Sainsbury’s Local, Welcome Break, Londis, Shell, Budgens and Somerfield Essentials, is a huge plus point for franchisees.
“The other advantage Card Connection has is that it has been a full member of the British Franchise Association since 1995,” continues Galvin. “This means it gives franchisees peace of mind, as like other members, we are bound to adhere to the best practices laid down in the BFA’s Ethics of Franchising”.
Card Connection’s network of more than 100 franchisees specialise in supplying greeting cards on a consignment basis to almost 17,000 retail outlets countrywide.
Because the franchise networks in the UK and Ireland are complete, the available opportunities now consist of acquiring an already-established territory from an existing franchisee. These vary in price according to their level of development, but start at £25,000 (excluding stock) with earnings potential in excess of £50,000.
“The key to success all our franchisees hold is the tenacity and determination to run their own
businesses backed by the support of one of the best run franchises in the UK,” confirms Galvin. “We wish our new franchisees every success for the future!”
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