Co-Directors of Oltco, Tom Stringer and Johnny Pearce, are celebrating the launch of their 50th franchise following a period of sustained growth. The UK’s leading sustainable resin bound specialists found a way to recycle waste plastic into a resin driveway, pathway and patio solution and the company has grown from a small family business in Cornwall to a successful national enterprise with 50 franchises across the UK and Channel Islands.
Oltco launched its franchise scheme in 2019 so that it could support other people with launching their own business and in its first year, the franchise offering grew by 450%. Its next target is 100 franchised areas by 2025. Tom and Johnny’s shared ethos to feel good about the work that they do and the decisions that they make is echoed in all that they do.
Johnny Pearce, Co-Director of Oltco, said: “Hitting the 50-franchise mark is something we are incredibly proud of, it marks how far we have come since starting out as two friends in Cornwall. We aren’t stopping here as we look to continue our expansion across the UK and internationally.”
Oltco’s rapid growth and national recognition has disrupted the industry and proved its franchise model to be incredibly successful. The company was named one of the top 100 franchises in the UK in the Elite Franchise Top 100 in 2021, as well as winning the Sustainability Warrior award at the 2021 bfa HSBC British Franchising Awards.
Nick Carnes, Franchise Director, commented: “I am so impressed with the growth Oltco has seen in such a short period of time. I have been in the franchise industry for eight years and I rarely see growth like this from any other franchise business. I’m incredibly proud to be a part of this amazing network and I cannot wait to see it continue to grow and disrupt the industry.”
The world-first and award winning Recycle Bound driveway solution, which utilises waste plastic that is already in circulation was designed to help combat the global issues of plastic waste. So far, across the UK and Channel Islands Recycle Bound projects have recycled the equivalent of over 200 million plastic straws. This forward-thinking approach and commitment to the environment is what has attracted so many like-minded individuals across the UK and Channel Islands to join Oltco’s growing network. Recycle Bound has won multiple accolades including ‘Product of the Year’ award at the Cornwall Business Awards and runner up for 'Recycled Product of the Year' in the National Recycling Awards.
Alongside Recycle Bound, the 50 franchise areas also offer Recycle Base, a ground reinforcement system which utilises low-grade plastic, including ocean waste plastic. An average 70m2 driveway could offset a tonne of CO2 which is the equivalent of planting six trees using Recycle Base.
Oltco’s unique sustainable product offering means it is able to offer something to potential franchisees that others could not, ensuring that each franchisee stands head and shoulders above their competitors.
Due to the rapid growth of the franchise business Oltco had to look for a new space for its HQ and Tom and Johnny created a headquarters at the old Jewson building on Pargolla Road in Newquay. Aptly named The Feel Good Building, Tom and Johnny wanted to create a collaborative hub for local businesses where work and social lives come together. This new space is also a shared working space, with a yoga studio, coffee shop and a barbers being just a few of the businesses residing there.
Oltco now has 16 employees from the local area and has created multiple job opportunities throughout the UK and Channel Islands.
Tom Stringer, Co-Director of Oltco, says: “Since launching our first franchise in 2019 we have achieved so many things as a business and launching our 50th franchised area is definitely one that we will remember. We are so proud to have so many passionate franchisees in our network and we are so excited to see them continue to grow with us.”