With official figures revealing the UK economy has returned to
its pre-crisis peak after six years* it is worth reflecting how
franchising is playing a key role in the countries recovery.
Franchise businesses in the UK are celebrating record highs in
turnover and full-time employment, according to the latest Natwest
British Franchise Association (bfa) Franchise Survey.
The figures revealed how the franchise sector bucked the
economic downward trend and showed a 20% growth compared to a 2.5%
contraction in the overall economy since the country went into
recession in 2008.
The survey, published earlier this year, also highlighted that
an overwhelming 92% of Franchise Owners reported profitability and
80% of businesses with less than two years’ experience in the
industry are already turning a profit.
The Franchise Survey calculated that the franchise sector
contributed around £13.7bn to the economy during 2013, which
equates to just less than one per cent of UK GDP.
Over a quarter of a million full-time jobs were also recorded
for the first time in UK franchise history out of total employment
in excess of 560,000, an increase of 20% over the last five
years.
These impressive statistics reinforce the fact that the
franchise industry offers exciting opportunities and delivers
impressive results for motivated and committed people.
The success of the franchise industry is partly down to the
use of ‘business format franchising’ as a growth model by companies
eager to expand their successful ventures and open up avenues of
opportunity for franchise owners across the UK.
The fact that franchising spans many industries, from home-run
domestic services to world-renowned brands, adds to its wide
appeal. It offers something for everyone.
An etyres
online mobile tyre fitting franchise is a solid example of why this
sector continues to thrive. Its tried-and-tested business model has
a proven track record of success across the UK and the first etyres
Franchise Owners to join the company are still trading profitably
after 16 years.
Even during times when the economy has been under intense
pressure, etyres has continued to grow due to the calibre of its
Franchise Owners, successful nationwide brand awareness campaigns,
continued investment and commitment to innovation.
For more information on an etyres franchise, click
here.
