Monday 17 May 2010

HiQ network celebrates Q1 business results

The HiQ fast fit network is bucking the economic downturn to post some of its best footfall, tyre sales and gross profit figures ever.

HiQ’s retail director, Juergen Titz announced HiQ’s Quarter One trading results at the first HiQ National Franchise Conference of 2010.

Total gross profit for the opening quarter rose to 9.9 per cent compared to the same period in 2009.

Total tyre sales grew to 5.4 per cent while total footfall increased by 8.6 per cent in a set of impressive figures for the fast fit car care brand.

HiQ has put its results down to an ongoing effort to position each HiQ franchise partner as a ‘local hero’ in the community, where they create a welcoming, customer friendly environment for every customer.

Juergen told HiQ’s franchisees: “These results are proving that our entrepreneurial approach, coupled with a franchise concept, is working very well.

“However, one quarter does not make a year. It is a promising start and we are more than happy to assume that these figures should be replicated for the whole 12 months.

“Retail business is an area that we can really influence. We have to continue to drive hard to make sure that we are clearly focused on this and deliver on our “fast fit you can be sure of positioning” “

Juergen said that franchisees needed to continue to build a position of trust within their communities, whilst working in partnership with the network’s Birmingham based support team.

He concludes, “We have a spirit and dynamism around everything we do, which is important. We have new partners on board and we will continue to aggressively expand the network in 2010 and beyond.

“Each franchisee must exploit the vast range of support that we have to offer through our create demand programme. Local heroes at each centre, coupled with our strong national retail brand, will make the difference.”

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