Economic recovery – franchise business cutting edge
While the UK economy slides into recession the focus in business must, now more than ever, be on profit and job creation. One important building block for the UK, in our return to growth, is the thriving franchise sector.
According to the Nat West/British Franchise Association (BFA) national franchise survey the UK franchise sector is worth over £13 billion and has grown five times faster than the UK economy in recent years.
Over 850 franchisors (brand owners) support in access of 34,000 franchisees (self employed brand operatives). UK franchising has a working population in addition to 383,000 according to the survey.
Growth in UK franchising gives boost to UK economic rcovery
Even in these times of economic challenge there is growth in franchise business. Expense Reduction Analysts, for example is business to business cost reduction franchise. Franchisees help large businesses to reduce their costs and share a percentage of the savings achieved. This type of franchise is good for people with good face to face and analytical skills. Cost saving consultancy is a very strong concept in a shrinking economy so worth looking at for people with the appropriate skills and background.
The banks are also declaring that they have finance available for people wishing to start self employment via the franchise route. The buyer must have researched thier market and ocncept of interest well and present a clearly thought out business plan to the bank. It is vital that the buyer can clearly demonstrate the viability of the franchise concept of their choosing for their skills and for their locality.
From redundancy to a new future in franchising business
Already, many people that have been made redundant in the UK have invested in, and are growing, their own franchise business. After researching the markets Lee Shuell is someone who has quickly moved into business format franchising.
Lee invested in a Belvoir Lettings franchise and is very happy with his decision. “I’d always wanted to work for myself and I was interested in the property market. I have my own buy to let property and had contacts in the industry from my time in the mortgage business" says Lee. Lee investigated the rental sector in his local town and identified a high number of rental properties so concluded that the rental market was the best area to develop for his business future.
Lee bought a franchise because the proven franchise concept of branding, pricing and full training and ongoing support were available to him. Buying a franchise gives the new self employed person the a proven business model to follow. This increases success potential. In fact, the BFA/NAT West survey reveals that over 90% of UK franchisee operate profitable businesses.
Select the Right franchise for your future
Visit www.SelectYourFranchise.com and investigate over 100 franchise brands at your leisure. You can search by category, location, industry and investment. You could help the UK economy back into growth as you grow your own business via business format franchising. Put your future back into your own hands.
