Australian Franchise News – 05-10-10
MYO Australia today sealed an important deal with MYO international that will see the brand uniting its intellectual property under single ownership.
The Australian brand has purchased the international company rights from founder Mr Nicholas Bird, gaining control of all operating franchises, licences and territories.
The company currently operates five franchises in Scotland, Ireland and the United Kingdom.
MYO Australia Managing Director John Smith said negotiations for the deal had first commenced over a year ago.
“It’s been over 18 months since our initial discussions with Mr Bird however the plan has really become reality over the past six months,” he said.
“Uniting our intellectual property under single ownership will deliver stronger brand consistency and better economies of scale.”
“It’s a significant investment but one we know will provide strong strategic advantages for the business especially in terms of further international expansion.”
Mr Smith said MYO customers would be the big winners from the deal.
“This move means MYO customers around the world can be assured of the same consistency of brand and high quality product whether they’re in Perth, Glasgow or Dublin.”
“Our menus will be uniform around the world as much as possible and all stores will be branded with the new MYO look and feel, which was created for the Australian stores earlier this year.”
Mr Smith said the company was now gearing up for a period of strong expansion.
“We are looking to move into the rest of the UK and Wales with help from our Scottish Master Franchisee. These territories are already mapped and we have some strong sites already in mind, so we see this moving fairly quickly.”
“MYO currently operates 24 franchises worldwide and our goal is to grow that number to 50 by 2013.”
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