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Catch the franchising wave

Catch the franchising wave

NEWS

05 Mar, 2019

There’s never been a better time to consider franchising say experts …

Leading UK and international franchise consultancy Platinum Wave has welcomed the findings of the 2018 Franchise Survey produced by the British Franchise Association (bfa) and NatWest bank.

The survey shows that the franchise sector in the UK is thriving, with the contribution to the economy estimated to be in excess of £17 billion – an increase of more than £2 billion since the previous survey in 2015. Some 700,000 people are employed in the sector, with just over 50% in full-time employment. The number of women and young people (under 30) engaged in the sector has risen significantly.

Suzie McCafferty, managing director of Platinum Wave, says: ‘Franchising is a fantastic business sector to be involved in and the latest bfa survey shows that it is growing exponentially, with ever more opportunities to either franchise your business, become a franchisee or even be employed by a franchise. There has never been a better time to get involved in franchising.

‘Franchisees across the country are reporting 93% profitability and six in ten franchised units turn over more than £250,000. I think this proves that the franchise model, if followed properly, leads to successful, sustainable and profitable businesses. It is a fact that less than 1% of franchise businesses close due to commercial failure. Over the past 20 years we have seen the sector go from strength to strength and as a consultancy we have helped hundreds of UK businesses get more from franchising, including expanding into international markets.’

For further information about careers in franchising, visit the bfa’s website at www.thebfa.org

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