HiQ Network Grows with Addition of 11th Broadway Outlet

One of the largest franchisees in the HiQ network, Broadway Tyres, has acquired its 11th centre. Broadway owns a number of fast fit outlets in and around London, and has added HiQ Grays to its portfolio after acquiring the centre from P & R Tyres.

Broadway’s operations director Gary Oliver believes the Grays outlet’s London road location is a perfect one for driving customer reach and footfall. “There has always been a strategy in place to expand and Grays presented the right opportunity,” he commented. “This latest investment will no doubt have great impact upon the franchise and our establishment in the area.”

This latest addition to Broadway Tyres’ operations comes at a time when it has announced a more than 20 per cent increase in year-on-year turnover, making it one of HiQ’s most successful business partners. “Backed by the national strength of the HiQ brand, we have been able to achieve some success in 2010,” Oliver added. “However, we must keep striving to maintain and even improve on our results, which is what we will be doing.”

Overall year-on-year turnover for the HiQ network was up 7.4 per cent, accompanied by a “double digit” rise in gross profit. HiQ’s retail director Juergen Titz said this performance was testament to the ‘living partnerships’ between HiQ and their network of franchisees. “These results continue to prove that our entrepreneurial approach, coupled with a franchise concept is working well,” he reflected. “Broadway Tyres are a perfect example of this and we are delighted to see their performance and growth.”