Cover story (1)
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James Eyre created the Tiger Bills food franchise combining Western grills and authentic Thai street food. The first franchised restaurant opened in Birmingham in 2017 and has since expanded to several locations in the UK. Eyre explains that Tiger Bills offers a neighborhood dining experience appealing to a wide demographic. The franchise fee is 贈47,000 and provides support for franchisees. Eyre believes Tiger Bills is well positioned for further UK and international expansion in the coming years.
Cover story (1)
- 1. 12 | MAKING MONEY | www.makingmoney.co.uk cover story Tasty opportunity JAMES EYRE, THE MAN BEHIND TIGER BILLS, EXPLAINS THE INSPIRATION BEHIND THE FOOD FRANCHISE AND WHY IT IS SUCH A WORTHWHILE INVESTMENT B uilding on a food service career spanning businesses including Taylor Walker, Beefeater, Old Orleans, Pontins and Eldridge Pope & Co, James Eyre set up the Lifestyle Hospitality Group in 2004 and opened the first Tiger Bills restaurant in Exeter in 2006, followed by Tiger Bills Torquay in 2011. The brand offers an East meets West, back-to-back menu of Western grills and authentic Thai street food, and the first independently owned Tiger Bills franchised restaurant opened in Birmingham in May this year. The franchise offering was launched after five years of dedicated brand development, using the company-owned sites in Exeter and Torquay as models. Since the launch of the Birmingham site, two more franchised outlets - one in Whitley Bay and a 200-seater in Consett - have opened, with an additional four restaurants (in Surrey, Worcester, Cheltenham and Lymington) due to start trading in the new year. And as if that wasnt enough, Tiger Bills is also experiencing considerable interest overseas, with the international operation currently agreeing heads of terms in Malaysia. James Eyre, the man behind the brand, explains the inspiration behind Tiger Bills and why it is such a worthwhile investment opportunity. WHAT WAS YOUR INSPIRATION FOR TIGER BILLS? I set up the Lifestyle Hospitality Group and this now incorporates nine managed sites all located within the south west. Out of these, I felt that the Tiger Bills concept had the most potential in terms of scalability and I passionately believe the East meets West neighbourhood dining experience not only has a wide demographic appeal in the UK, but can also be easily transferred into the overseas market. The inspiration for Tiger Bills was that it combined classic Western grills alongside Thai food, which I could see was going to be the next big cuisine. A young Thai chef working in one of my businesses persuaded me to try his cooking and it was excellent. As well as tasting good, the raw ingredients are economic to source. As well as a dual menu, integral to the Tiger Bills offering is creating a neighbourhood dining experience. Neighbourhood dining literally means a restaurant in the heart of the local community, a place where families and friends go for a drink or bite to eat on a regular basis. Tiger Bills is effectively a local restaurant with an emphasis on good hospitality. I saw a gap in the market for neighbourhood dining and wanted to create a venue that would appeal to as broad a demographic as possible, so creating a brand with two themes rolled into one was an important and strategic decision. Authenticity is key. We serve Thai street food, such as Pad Thai and curries, from an open plan kitchen where customers
- 2. www.makingmoney.co.uk | MAKING MONEY | 13 can see the food cooked in the wok by Thai chefs. Teaming a more exotic menu with a Western-style menu means Tiger Bills can pretty much cater for everyone - it has dishes suited to those wanting to try something more exotic, while also providing food suited to a more Western-style palate. WHY FRANCHISE THE BRAND? Five years after the launch of Tiger Bills in Exeter, I opened a second restaurant in Torquay - this site hit the ground running and was profit making from day one. It was clear we had perfected the model, so the idea that this could have wider, more far reaching potential soon became apparent. I met with the Approved Franchise Association in order to learn more about the process of turning a business into a franchise and they helped shape Tiger Bills into a solid franchise opportunity. WHAT IS THE ENTRY COST FOR A FRANCHISEE? The franchise fee is 贈47,000 and for that franchisees will receive comprehensive support, including a website, marketing, hands-on project management for openings and negotiation on sites. The cost of the restaurant development will depend on the site and a territory franchise requires the franchisee to open a specific number of restaurants in a given time. There is also a single-unit franchise option. WHO SHOULD THINK ABOUT BECOMING A FRANCHISEE? Essential traits in any new Tiger Bills franchisee include a passion for the hospitality sector and a drive to succeed. We insist on a thorough interview process, which is for the benefit of both parties. It offers an opportunity for both franchisor and franchisee to ask any pertinent questions relating to the decision making process. We are very particular about the kind of things we are looking for in a potential partner. It is not just simply a case of having the capital; it is as much about demonstrating a shared vision and understanding of what we are trying to achieve, and compatibility is also of paramount importance. We have a responsibility to recruit the right type of candidates - this will ensure the long-term success of Tiger Bills for both the franchisor and franchisee. In terms of having direct experience in the hospitality sector, a potential investor does not need to have industry experience. We are happy to do as little or as much handholding as necessary - our initial consultation with a potential investor will quickly establish which approach is most appropriate. WHY BECOME A FRANCHISEE? In addition to the attractive, industry supported fact that less than seven per cent of franchise owners fail within the first three years, we have spent five years honing our business model and now have a proven and profitable system of operation. And, unlike other franchise models on the marketplace, we have, with the support of the Approved Franchise Association, helped create an offering that benefits the franchisee more than the franchisor. Becoming a franchisee means individuals have control over their investment and earnings. We also allow some flexibility within the brand, so franchisees can have a bit of creative licence. We are happy to be as hands on/off as needed and will be guided by the franchisees as to what support is required in the early stages and over the longer term. Seizing the opportunity now, when the brand is gaining momentum here in the UK and overseas, will put any early adopter in a very attractive financial position. WHAT ARE YOUR EXPANSION PLANS FOR THE FUTURE? This year we opened four individual restaurants in the UK, which was right on target. We aim to open another 10 next year and the same number the year after. Internationally, weve had a lot of interest from Asia because of the appeal of the marriage of Thai cuisine with the Western grill and we are confident of having at least two master franchisees signed up in Asia in the next 12 months. Whats exciting for us is the prospect of taking the concept overseas. At the moment we are at a critical stage, agreeing heads of terms in Malaysia, which is great news for the brand as a whole. We are taking expansion overseas seriously and have an international franchise director who has created a strong international support structure partnering high calibre international hospitality organisations in Singapore, Africa, Japan, India and Dubai. MM FOR MORE INFORMATION n For more information email info@tigerbillsfranchise.co.uk or visit www.tigerbillsfranchise.co.uk. More info: www.makingmoney.co.uk/r/4941