Kitchen retail giant Magnet is opening its first-ever franchise store.
The showroom, which is due to open on June 20 in Tunbridge Wells, Kent is billed by the company as a ‘significant milestone in Magnet’s growth journey’.
Magnet says the franchise concept will empower local entrepreneurs to operate stores under a defined concept.
“By granting greater autonomy to franchise owners, Magnet aims to leverage local market insights and relationships to drive stronger commercial performance and boost kitchen sales.” a statement said.
This news comes after franchise Kutchenhaus opened its milestone 75th store in the UK and furniture maker Nolte announced plans to launch its own franchise model. Schmidt also has a substantial franchise operation with around 30 showrooms.
The first Magnet franchise store is being opened by Ben Thornton (left) and Kenny Devlin (right).
“We are thrilled to have entered into a franchise with Magnet who have a fantastic reputation for being leaders and pioneers in the kitchen retail industry,” they said. “Tunbridge Wells is an exciting location for us. We are re-opening the branch with a team of experts with over more than 50 years combined experience.”
Thornton and Devlin also confirmed that they will also be offering an installation service through their existing business Lime Installations.
The franchise plan is just part of an ongoing strategy to boost Magnet’s fortunes as part of one of Europe’s largest kitchen Groups, Nobia.
In February, its end-of-year results reported a massive fall in operating profit of more than 150% and 10% drop in sales. At the same time in 2023 it announced plans to close two of its UK factories with the potential loss of 500 jobs – around 19% of its UK workforce.
