I’m sure you’re most likely reading this because you’re interested in starting your own side hustle. Somebody may have mentioned the idea of a Utility Warehouse franchise to you and, as a result, you’d like to do some research before getting started.
Having your own side hustle is useful if you’re looking to earn money to support your primary income. It is also a viable option if you’re looking to create a passive income that’ll set you up financially for life.
It should be noted that side hustles may not be for everyone. Therefore, you should consider the pros and cons before jumping in. If you’d like to do some research first, you can read my side hustle blog.
One of the ideas behind people building their own franchise means that Utility Warehouse doesn’t pay for traditional advertising. Everything is done by word-of-mouth, although they do have promotional videos featuring Joanna Lumley.
This money-saving tactic by the company allows those with their own Utility Warehouse franchise, such as myself, to be rewarded fairly.
Disclaimer: This is not a guide on being a successful Utility Warehouse partner. That is a whole other article in itself, which I intend to write in the future.
Instead, I wanted to provide you with a fairly in-depth overview of how a Utility Warehouse franchise works. This means I won’t be going into a confusing amount of detail. If you decide you’d like more info, be sure to get in contact. I’ll happily answer any questions you have over the phone or a coffee.
What is Utility Warehouse?
Simply put, Utility Warehouse is a multi-award winning utility services supplier with over 600,000 customers. The services they are most well-known for include gas, electricity, broadband and mobile phone. Home insurance was recently added to their services, as well as boiler insurance.
What’s unique about this is that no other company in the UK offers these services combined in the same way. Therefore, you could have several bills with one company on a single bill each month.
There are additional offers, discounts and rewards for customers on top of this, such as the cashback card.
Starting Your Utility Warehouse Franchise
To sign up as a Utility Warehouse partner, there is a registration fee of £100 (reduced to £50 if you sign up as a customer first of all). However, before jumping to any conclusions, there is a reason behind this. The fee covers your ongoing training, which includes mandatory basic training and optional courses (both in-person and online) afterwards. You also receive a fully-maintained website and ongoing support.
On top of this, you will also get early guidance and ongoing support from the person who signed you up. Often, they will also help you to receive support from the other partners they’ve signed up. For instance, whenever I personally sign up a new partner, I provide them with access to one of the largest and most successful Utility Warehouse partner networks. This includes literally thousands of partners.
In the earliest days, you are encouraged to start by speaking with your closest family and friends first, if possible. This puts you in a low-pressure, friendly environment where you can get to grips with the signing up process.
At the end of the day, you are looking to see if you can save these people money on a range of services that they will most definitely have and show them how they can earn an extra income.
One of your first aims is to generate three customers as a partner to become a ‘Qualified Partner’. After that, you can start to earn an ongoing residual income.
In order to keep getting paid, you must sign-up one, or more, customer(s) per calendar month.
Earning from Your Utility Warehouse Franchise
Signing Up New Customers
With each customer you sign up, you can earn up to £300 through the Quick Income Plan (QUIP) on top of a signing up reward of up to £50 per customer. As a result, this enables you to start earning quickly and potentially give up your day job in as little as several months.
The passive income I mentioned before comes from a percentage of your customer’s monthly bill. It really adds up once you’ve built a customer base.
In fact, one new partner, sadly not within my network, made over £12,000 in January 2019 alone, just from signing up new customers!
As you sign up customers in the early days, there are further bonuses for hitting certain optional targets. Beyond that, there are rewards available to all partners:
One of the most frequently discussed rewards is receiving a brand new Mini ONE car, with monthly payments as low as £0. This car is actually a useful marketing tool for your Utility Warehouse franchise, as it is branded. I have personally seen members of the public approaching the driver after noticing the car to inquire about becoming a customer or partner.
Another reward you can receive is one-months free use of a Porsche – All you need to pay for is the petrol! However, being the lover of travel that I am, my favourite rewards are the holidays. The opportunities include weekend breaks in sought-after European destinations such as Warsaw, Paris and Budapest. I’ve just achieved the one to Paris, and I can take a friend too.
Even better are the aptly-named ‘Bigger and Better’ holidays, which provide you with six nights in a top European destination. My first holiday achievement was to Cyprus, and that’s going to take place in June 2020.
If you are looking to really take full advantage of what Utility Warehouse offers, you could earn yourself a ‘Holiday of a Lifetime’. Qualifying partners are taken to places like America, Greece, Peru and other great locations for their Holiday of a Lifetime.
Signing Up New Partners
Whilst you can generate a strong passive income from signing up customers alone, there is another income stream in signing up new partners.
It is important to remember that you should pay just as much attention to signing up new partners as you do signing up new customers. By that, I mean you should also ask every potential customer you meet with if they would like to earn some extra money by starting their own Utility Warehouse franchise. It actually isn’t that much additional effort, yet it can bring you a huge return.
The way this works is that you will receive rewards every time a partner you’ve signed up, signs up a new customer. On average, you will receive £0.30 per month for each customer they sign up.
It doesn’t sound like much, but you’ll also be receiving money every time that partners also signs up another partner that signs up new customers, and so on. For example, let’s imagine you sign up five people as a partner. They are all signing up new Utility Warehouse customers, then they each sign up five new partners who are all signing up new customers as well as signing up five partners.
Suddenly, you have 125 partners in your network signing up new customers and generating a passive income for you through those customers!
However, I will point out now that there is more to how the rewards work with signing up partners. I am only providing an overview in this article, but will happily discuss the details if you should contact me.
Starting a Utility Warehouse franchise is a great opportunity. It’s for anybody looking to earn extra money on the side or replace their full-time job. You can achieve a flexible work-life balance whilst building a passive income.
Like most things in life, it is what you make of it. I’ve seen some partners build a big customer base and partner network very quickly, before quitting their jobs. This can all happen within a matter of months.
Conversely, others slowly chip away to build a strong, stable income over a longer period of time. For me, I am gradually getting closer to that stage, and I’ve only been with the company for under three years so far.
Having your own Utility Warehouse franchise is not a normal job. Personally, I see it as the future of employment. It’s a way to build something for yourself whilst rejecting what is considered ‘normal’. I’m building financial stability, a healthy lifestyle and the chance to spend more time doing what I want, and when I want to do it. That was one of the reasons that motivated me to join Utility Warehouse.
The key to success is persistence. This article has been to explain how a Utility Warehouse franchise works – The inner workings of a business for those who are looking to join, rather than a guide on how to succeed.
If you’re interested in learning more about how Utility Warehouse works or would like to become a partner, please use the contact form below. I would be delighted to hear from you!