With a rainfall that was double the average, June 2012 was the wettest in the UK since weather reports began over 100 years ago according to the news. With the slow economic recovery still blighting the employment market it might seem like the unusually wet weather just about sums up the current British outlook!
The recently released franchise survey, commissioned by the bfa & NatWest paints a markedly different picture for the franchising industry. Despite the downturn, franchise business in 2011 weathered the economy better than you might expect and in fact the number of surveyed UK franchisees reporting a profit exceeded 90% for the first time since 2007. Overall network turnover figures were seen to increase also which is encouraging news to anyone who might be considering starting up a franchise but is unsure because of the current economic stormy waters of recent years.
If you have never previously considering franchising, then the franchise survey is just one signpost that starting a franchise business still remains a solid, proven route into self employment. Of course there are risks with any business investment, but choosing a proven franchise system helps to minimise those risks, especially those of starting up a brand news business with no track record, existing branding or support to help you through those crucial early years of getting established.
If you want to know more about franchising, then you can read our series of 10 Franchise Tips or, if you are already in the know, go straight to our franchise directory and browse from a wide range of franchise business options.
In a recent BBC report, official unemployment figures have shown a fall of 51,000 in the three months to April 2012. This will be encouraging news to many that are still struggling to find work in an economy that is still battling to keep its head above water.
Many people have been looking to starting their own business after experiencing a job market which averages 23 applicants for every job available. With this kind of competition its no surprise that many are frustrated and are considering other avenues such as self employment and starting their own business. But starting you own business from scratch in difficult economic conditions can be quite a challenge.
Franchising might provide some hope for those stuck in the unemployment trap and looking for a way out. At the launch of Big Society Capital in April 2012, the PM, David Cameron, commended the work of FranchisingWorks, an innovative social enterprise that tackles unemployment by helping create new businesses and jobs through franchising. This kind of acknowledgement from the figureheads in the government along initiates such as the recently announced young peoples business start up loan scheme and with the governments commitment to supporting franchising as a route back into work, is great news for franchising as a whole.
If you would like to know more about starting a franchise, read our 10 Franchise Tips series and then begin by researching from over 100 franchises we currently have a available from our franchise directory.
In recent news from the BBC, the government have announced a loan scheme for 18-24 year olds aimed at helping them start a business. The £82m loan scheme will provide a loan of what is thought to be around £2,500 for those eligible for the scheme.
In a time of the highest unemployment among this age bracket in 17 years, the government are hoping this will provide a boost to the economy of some 30,000 new startup businesses providing much needed work for many who are currently out of work.
For many of those young people, a franchise could provide a great way to invest the loan in order to provide them with a proven business model to build their own business. With successive bfa/NatWest national franchise surveys consistently reporting that around 90% of franchisees trade profitably each year, investing the money into starting a franchise makes perfect sense. Of course, there is a level of risk involved when you start any business venture, but franchising has proven to be a great way to start a business for tens of thousands of aspiring business people in the UK.
Starting a business demands a high level of commitment and determination to succeed, but if you have those qualities, there are almost limitless possiblities. With almost one thousand different franchise systems in the UK, it’s highly likely you will find at least one franchise business that suits you and that you can see yourself doing.
If you are ready to begin your search and find the right franchise for you, using a franchise matching service can be one of the best ways to find a short list of franchises that suit your budget, location and preferences. Alternatively, you can start by browsing one of the online franchise directories to see what might spark your interest.