They have had a good run. I bought mine at 6p, but will hold to see what 2007 will bring. More potential in my opinion. They seem to have a very good growth story, both organic and acquisitive. Acquisitions appear to be available at very reasonable prices as well, attracted by what Myhome can offer. I suspect we will see some deals go through in Q1 2007. Sounds like the management team have spent much of the last quarter getting the Nigel Wray placing and AIM listing away. Now that this is out of the way, I suspect that they will be able to move forward more aggressively on the acquisition front.
The AIM document is interesting. A couple of points that I noticed:
- 51 Myhome franchisees at 30 Sep
- 40 franchisees on Nicenstripy by 30 Sep: good growth given they haven't really advertised this concept as agressively as the others.
- 185 Ovenclean franchisees - grown strongly since the acquisition 3m before.
- Franchise Alliance acquisition mentioned - not previously announced, but another route to market.
Future growth mentioned both B2B and business to consumer. Dry cleaning, plumbing, security painting and decorating and electrical services appear to be the next possible steps!
Thinking a couple of years ahead, just how big could this group be. 300 franchisees now, 500+ maybe in 2007, next stop??
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