£15bn franchise sector hits record levels
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£15bn franchise sector hits record levels
The just published 2015 edition of the Natwest/Bfa Franchise Survey reports the following:
- Franchising contributes £15.1bn to the UK economy
- There are 44,000 franchisee owned outlets in the UK
- The personal services sector has seen the most significant growth – from pet walking businesses to children’s swimming classes
- 621,000 people are employed in the franchise sector
- 97{ba3215b0bf35eaeb06be458b3396ffbfc50bb9db10c9ff1594dfc3875e90ea48} franchised businesses report profitability and over half have a turnover of over £250,000
- Subway is the biggest UK franchise, with over 2,000 units
We certainly saw a lot of activity in the sector during 2015, our busiest year yet for franchising instructions. We acted for both individuals looking to purchase a franchise and from those already running a successful business, looking to expand by way of franchising.
Paris Smith is an accredited professional advisor member of the British Franchise Association. For further information regarding franchising please contact me.