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Investing in a franchise is a highly effective way of starting a business, with the proven nature of the business, the added mentoring and experience as well as the benefits of an existing reputation - not to mention the marketing clout a franchisor can offer, it is no wonder the franchise industry is booming, and according to the bfa 2015 was a record year for franchising in the UK.
The latest figures taken from the NatWest/bfa Franchise Survey published Jan 2016, shows a 10% increase in the franchising industry in just two years, here are some of the important numbers:
£15.1 billion - The value of the UK Franchise Industry 2015 (annual turnover)
46% - the rate the UK franchise industry has increased over the past 10 years!
97% - the number of franchise units that recorded profitability in 2015. This is a record, showing how strong the industry is.
- The average turnover of a UK based franchise, more than half of franchises show more than a quarter of a million pound turnover.
91% - the number of franchisees reporting satisfaction in their franchise.
901 - the number of franchise brands operating in the UK
621,000 - the number of people that are currently employed in franchising in the UK
The trends across the Atlantic
In the U.S. the industry continues to boom, we are interested in the statistics from the United States as the trends here usually translate similarly to the UK
$800 billion - The US Franchise industry annual turnover.
8 Million - the number of people employed by franchise businesses across the USA.
97% - The success rate of US franchises - this number reflects franchisees still in business after five years.
So as you can see not only is the franchise industry strong, it is actually increasing in success and has been one area that has weathered the financial crisis both sides of the Atlantic. If you are interested in a resillient, proven business model, let us find your perfect partner!
How to franchise your business...
Are you a business owner? Do you have a great business model that could be easily replicated? Do you have something special that you could share with another entrepreneur to help them start their own business as part of your unique brand? If so you could franchise your business.
It can be a big step, going from being a business owner, in control of one (or multiple) outlets of your business, to handing over the reins (with guidance) to another person in a new area, but it can be highly rewarding and lucrative if done correctly.
Here are our top tips for franchising your business:
We at franchise-opportunities.co.uk have made this process simple, we find you candidates interested in your sector looking to fund at the level of investment required. When you have completed the first 5 steps above and are ready to recruit franchisees, drop us a line and if we are convinced of your model and experience, if you are bfa registered and have at least one existing franchisee turning a profit, we will happily work with you. Contact us for more information.