2005.2006 Annual Revenue Report
The Fastway group of companies announced today that their annual revenue figure has reached $315 million.
Group Managing Director Brem Ellingham said that the company had also achieved record profit levels in the 2005/2006 financial year.
“We’re very pleased with this result, and the upwards trend looks set to continue for some time as our international franchises pass their start-up phase and begin to reap the rewards of exponential growth.”
Originating in Napier New Zealand, Fastway is now the world’s largest courier franchise, operating from 12 countries with over 1400 franchisees.
“We commenced a global expansion program in 2000 which saw us setting up in new countries across Europe and in Canada,” Mr. Ellingham explains. “For the past two years our strategy has been one of consolidation, and growing stronger revenues from our existing franchises. Our recent results have certainly vindicated that decision.”
Further expansion does seem likely though. “We are currently assessing the opportunities for further development of our brand in other countries,” he said, “although we are not quite ready to announce a decision on that just yet.”
Fastway Global Ltd is the entity that oversees the Fastway Couriers franchise system. Each country is headed up by a National Master Franchisee; to whom Fastway Global Ltd grants the rights to operate their franchise system. Lengthy training and ongoing support are provided, and a revenue stream by way of a franchise royalty flows back to the franchisor.
“Our business model is based on low mark up and high revenue,” Mr. Ellingham said, “and our franchisees have the opportunity to develop high income, long term sustainable businesses.”
He adds, “Fastway is successful, because we provide an essential service in a clearly defined market niche, and our franchise system is focused on high levels of support.”
In Canada, Fastway Couriers is operating in the regions of Vancouver, Calgary, Edmonton, London, Kitchener, Hamilton, Niagara, Toronto, Barrie and Oshawa. More Regional Franchisees are required for their next phase of growth into the targeted cities of Victoria, Kelowna, Windsor, Kingston, Ottawa and Montreal. As these franchises are awarded and operational depots are opened, plans to connect all regions through ground services continue. Doug Faulkner, President of Fastway Couriers Canada said, “In some of our current locations we are at capacity with the number of Courier Franchisees that we have, and in other parts of Canada and in those cities about to open, we require more Courier Franchisees to cope with our growth.”