New research from the British Franchise Association (BFA) has highlighted that the UK’s franchise sector is operating at record levels. Turnover, employment and franchisee-owned businesses are all at an all-time high.
British Franchise Association/NatWest Franchise Survey 2015 reported;
- Franchising contributed £15.1 billion to the economy and employs 621,000.
- The number of franchisee-owned businesses topped 44,000 in 2015.
- Over one-third of franchise-owned business are run from home.
- 97 per cent of those businesses reported profitability with over half turning over in excess of £250,000.
- Franchisee-franchisor relationships at their strongest recorded level – with nine in ten franchisees declaring satisfaction.
- One in five franchisees that started their business in the past two years being under 30 years of age.
Brian Smart, director general of the BFA, said: “Good franchising continues to deliver serious dividends for Britain’s economy, creating businesses, jobs and wealth for local communities across the country. Established trends of strong profitability and very low failure rates over the last 20 years highlight the benefit of self-employment through franchising, a path that more and more individuals are taking.
Andrew Taylor, NatWest head of leisure, added: “This survey paints a picture of a sector in good health, with great potential and ambition and our dedicated franchise teams based across the UK remain committed to supporting the industry in the best possible way.”
Taken from BFA.