A North East storage company has announced plans to expand nationwide as it launches a new franchise programme. U Hold The Key, based in Stockton-on-Tees, said that it has seen a “surge in demand” for self storage throughout the pandemic and has accelerated the development of its franchise plans in response.
Looking Forward
The company, which is a division of Parsons Containers Group, said that it expects to open its first franchised site this summer, and will expand into new territories with the scheme.
It reported a 15 per cent increase in occupied storage units during 2020, currently owning around 1,500 container stores across 11 sites in the UK, with two more set to open this year.
Ean Parsons, CEO of the Parsons Containers Group, commented: “U Hold The Key celebrates its 20th birthday this year and it’s a success story that our region can take great pride in.
“The brand is now very recognisable and well established and over the years, we’ve fielded many queries from outside the North East. Parsons already operates on a national basis with container sales and we know that the growth in demand for self storage we’ve experienced here is replicated elsewhere.”
The Strategy
“Taking the franchise approach to expanding the U Hold The Key brand will attract committed, ambitious entrepreneurs – that’s who we want to work with because it reflects the history of the Parsons Containers Group, and the reasons why the business has succeeded.”
“There’s a huge and relatively untouched UK market for U Hold The Key. Looking at overseas territories where similar models have been deployed, you can find a container self-storage business in most towns, even with small populations.”
The Team
“Richard [Pakey, at the Lime Licensing Group] is the ideal partner for this enterprise and we anticipate helping our first U Hold The Key franchisee to launch in the very near future” Parsons continued.
Richard Pakey added “We spent many months researching the market before deciding to launch U Hold The Key as a franchise and we’re very confident about its potential.”
“I think that this will be a unique offer in franchising and will deliver one of the very best long term returns on investment.”
“We’ve structured the model so that it offers great flexibility, whether a franchisee wants a full or part-time opportunity and plans to be hands on or hands off.”
“There’s a huge and relatively untouched UK market for U Hold The Key. Looking at overseas territories where similar models have been deployed, you can find a container self storage business in most towns, even with small populations.”
“As a seasoned franchise consultant, I’m proud to attach my name to this project. I understand the sector very well and believe that U Hold The Key will be one of the franchises to watch this year.”
