Real Business:
During times of recession, one business model soars while others plunge: franchising. No wonder Stelios has been plugging his easyOffice franchise, which rents out cheap office space to start-ups.
It’s not been a great month for Stelios: first he fell out with his board directors over the future strategy of easyJet, then the airline announced plunging profits.
But all is not lost.
The millionaire entrepreneur has just announced two new sites for his easyOffice franchise, one in London, one in Glasgow. These will add on to the premier site in London’s High Street Kensington.
This flagship site has proved the business model: it’s performed at 100 per cent capacity since January 2008. The firm rents out office space for a mere £99 per week with no binding contracts for budding entrepreneurs.