One of the leading brokers in the fish and chip shop insurance market is recommending that its clients see the hoped for forthcoming recovery as a time to expand their businesses.
Titan, which is one of the country’s largest players in the fish and chip shop insurance sector and has a large number of clients on its books, is advising its clients to be mindful of the opportunities when coming out of a recession.
Food businesses such as fish and chip shops traditionally fair well during economic downturns because everyone still needs to eat, they represent good quality food and they are cash rich businesses (currency rather than cheques, or credit cards). This recession might have been harder to weather for some, given the severity of the downturn and the increased cost of supplies and energy, but for those that have survived, there will be good opportunities for expansion.
Chief Executive Officer of Titan Business Insurance, Basil Tsapralis, said:
“Many food businesses, especially those that have offered a well known product for a good price, will have come through the recession in a healthy state. This is the time for those that have survived, to think about expansion again, which can happen in many ways, including acquiring other premises, or expanding the existing operation.
“We would advise all of our clients, once they see genuine recovery, to sit down with their financial advisers and see how they can exploit an expansion programme.”
Titan is one of the UK’s largest fish and chip shop insurance brokers and has a portfolio of clients which covers most of the country.
For further information about Titan’s services, visit their website www.titan-insurance.com or call them on 0207 731 3700.