Multiple employs firm to advise on expansion

 Vision Express has contracted a specialist business adviser to help fulfil its aim of expanding its franchised stores by 100 outlets.

The 100 new store strategy, which was revealed by optician last year, has started in earnest with a new Vision Express practice in Hampstead to be followed by plans to open practices in Windsor, Staines, Doncaster, Stratford-upon-Avon and Weston-Super-Mare.

However, Vision Express has now asked chartered accountants UHY Hacker Young to act as 'management accountants' to the plan, and it has been agreed that the business advice group will be involved in the selection of potential franchisees.

UHY Hacker Young, which, like Vision Express, has offices in Nottingham, will also provides a vetting and due diligence service.
The firm will also work closely with Vision Express to prepare business plans, as well as accounting and reporting systems to maximise the commercial success of the new franchises.

New franchisees will be provided with a package of services, including the formulation of an individual business plan, to help them implement 'rigorous commercial and service objectives set by Vision Express'. It will be mandatory for franchisees to work within this business plan, and they will be aided by a VAT scheme authored by UHY Hacker Young to help their financial performance.

Phil Oliver, managing partner UHY Hacker Young Nottingham, said: 'Vision Express is a driven, focused and extremely well-managed business, and they set very high standards and expect no less from their advisers.'

James Windsor, Vision Express' franchise business development director said: 'We are aiming to open 10 new stores each year for the next few years, rising to 100 or so over time.  So far we have a good pipeline of new franchisees lined up and are actively searching for other suitable candidates.'

Vision Express wholly owns 106 of its stores, with a further 90 being joint ventures with qualified opticians. The new stores will be entirely owned and operated by the franchisee.