Due-diligence on Utility Warehouse (UW) and Telecom Plus PLC for potential new UW Partners
At its simplest - a way to earn good money with flexibility and freedom.
If you are considering joining Utility Warehouse (UW) as a Partner i.e. you wish to generate an income by promoting UW services and building a team – then you might also be embarking on your own process of due-diligence. With more of a bias towards business facts and the credentials of both Utility Warehouse and parent Company, Telecom Plus PLC – the following bullet points are intended to help with this process.
- Telecom Plus PLC is a ‘Premium’ listed FTSE 250 company listed on the London Stock Exchange (TEP).
- The Company was first established in 1996
- Utility Warehouse provides essential services (gas, electricity, broadband, mobile and insurance) to 650,000 UK homes and businesses.
- Utility Warehouse is the UK’s only multiservice provider – offering one bill, one phone number and one account
- Annual revenues exceed £875m (latest results)
- Utility Warehouse is Which? Awards Utilities Brand of the Year 2020. Also Which? recommended provider for Mobile (April 2020) and for Broadband (March 2020). Which? recommended provider for 10-years running
- Utility Warehouse is Uswitch (Energy Awards) Best Energy Saving Support 2020 and runner-up for ‘best customer service’ and ‘best rewards’.
- Utility Warehouse is rated Defaqto Five Star for Home Insurance
- Utility Warehouse Limited is authorised and regulated by the Financial Conduct Authority.
- Utility Warehouse is heavily invested in green initiatives.
- Through their UW Foundation, Utility Warehouse works with Charities Trust, with a current focus on helping the environment (Bryn Arw and Plastic Oceans UK)
- Substantial shareholders in Telecom Plus PLC: Aberdeen Standard Life Investments Ltd, Schroders PLC, Blackrock, Canaccord Genuity Group Inc, Unicorn Asset Management and Vanguard Group
- Channel Partners include: nPower, Innogy, RWE AG, TalkTalk Telecom Group PLC, BT Group PLC and EE.
UW Partners (Team Purple)
Excerpt from Telecom Plus PLC Report and Accounts 2020.
At its simplest, we offer our Partners a way to earn good money with flexibility and freedom. They can create real financial security for themselves and their families by using their spare time to sign up new Members and introduce our business opportunity to other like-minded people. By doing so, they receive meaningful short-term financial rewards combined with a long-term residual income. Many of these Partners play crucial roles in society, and the added income stream we provide can give them the freedom to do so with confidence and commitment.
As much as Partners are in it for themselves, they also want a better deal for their mum, their dad, their sister, their brother; all the people they are introducing. That matters enormously to Partners as they are on the front line. They need to trust us to live up to their personal recommendation. The delivery of our core customer values of service and fairness are thus critical in helping them promote our business model.
This is a unique and very valuable route to market, and we now have over 45,000 part-time, self-employed Partners. We are totally committed to helping Team Purple to build successful independent businesses through UW; recent actions taken in pursuance of this goal include:
- Improving the digital tools we provide, especially since
- Enriching our training and personal development
- Enhancing the compensation plan and introducing a
wider selection of short and medium-term incentives.
We provide a wide variety of training and personal development courses, both online and classroom based. These are designed to furnish them with the skills, knowledge and confidence to gather Members and recruit other Partners effectively and successfully.
Our Quick Income Plan gives Partners the opportunity to accelerate some of their commission payments on certain high quality new Members they gather. This meets their demand for an immediate income from us, whilst retaining the unique UW benefit of a long term residual income.
Our objective of progressively increasing our share of the markets in which we operate in a sustainable manner is wholly underpinned by the growth of Team Purple. To attract and retain more active Partners, we must maintain high levels of confidence in our brand and financial strength, and continue to make it easier for them to promote our services more effectively. [download full report]