The owner of the York division of peer support and business coaching organisation The Alternative Board has acquired the UK franchise of the company, based in Harrogate.
Ed Reid has bought the business from Paul Dickinson, Jo Clarkson and Martin Allison.
He has owned the TAB York franchise for the last seven years working with more than 80 local business owners to help them take more control of their business and grow their sales and profitability.
Reid has joined forces with business partner Mags Fuller to take on the national franchise, with support from funders including Enterprise Ventures and Lloyds.
TAB was started by an entrepreneur Allen Fishman in the USA, 26 years ago.
Having found his board of directors invaluable to him during his career he decided to set up something for small business owners. TAB is now a network of advisory boards which uses fellow business owners as trusted advisors and peers. It has 3,500 members globally, with over 10% of its members in the UK.
The business runs monthly business owner advisory boards, undertakes one-to-one coaching sessions and offers members access to its worldwide community.
The UK business has 28 franchises in place with over 350 active members, with the goal of adding an additional 40 franchises over the next 10 years.
Yorkshire is a strong-hold for the organisation, being based in Harrogate and with eight franchises across the county.
The Yorkshire network has 113 member businesses with sales totalling in excess of £675m, growing at an average rate of 15% and with the businesses involved employing in excess of 5000 people.
Reid said: “Over the last seven years I have worked with and supported some brilliant business people in the York area. I wholeheartedly believe in the power of the TAB network and what it can do to help business owners realise and achieve the potential of their business and have a better personal life. I am incredibly excited to take over the national reins of the business to lead the continued growth and development of TAB across the UK.”
Outgoing owners Dickinson, Clarkson and Allison have expanded the national network over the past eight years, with franchises from Glasgow to Kent.
Dickinson set up the first TAB board in the UK which he still runs today, and they will remain as TAB franchisees, working with members in the Leeds and York areas.
Dickinson said: “It has been immensely fulfilling to grow the UK franchise from very small beginnings and TAB is now ready for its next phase of growth. Ed has been a very successful TAB franchise owner and is hugely respected through the UK and international communities; no-one is better placed to lead the UK franchise through its next stage of development. We are delighted to hand over the baton to Ed and Mags and are thrilled to stay involved in the TAB family as franchisees.”
Business advisors for the deal included BHP Law and RedSky for the buyers, and Blacks Solicitors for the sellers.