Losses have piled up at Coffee Republic as the company continues its transformation to a franchising model.
For the year-ending 25 March the coffee chain made a net loss of Â£2.45m, up from Â£1.45m a year ago and saw sales fall by 34.8% to Â£9.7m (2006: Â£14.9m).
Coffee Republic said it was this conversion to franchising, from direct ownership of the coffee shops, which had caused the fall in sales and profits.
However, it said in a results statement that the rapid expansion of franchised sites, from five in March 2006 to 31 as of this month, as well as a number of regional and international franchising agreements, gave plenty of reason for optimism about the companyâ€™s future performance.
The coffee vending business is your opportunity to cash in on the 30 billion dollar coffee industry.
Can we solve the #1 Business problem people have today? Yes -- and the answer is simple...
Earn recurring monthly payments selling high-value mobile websites and apps to lucrative clients...
PromoSlam has a mission to develop real solutions for individuals and families
Coaching is a high-margin business where you can utilize your sales and/or business experience.
Own your city's local deals website and app with multiple revenue streams.