In this article, let’s look at some franchising statistics produced by the British Franchise Association. The BFA first started collecting industry data back in 1994 when new franchise investment was becoming a more well-known and well established business option. The BFA has built a detailed franchise survey.
Stats About The British Franchise Association
Here are some statistics the BFA have compiled regarding the UK franchise industry. The total number of people employed in franchising has grown by 70% over the last 10 years in the UK. Franchising’s contribution to the UK economy is in excess of 15 billion pounds and profitability levels are the highest ever recorded in the survey, and the numbers in employment continues its strong growth. One third of franchisee owned businesses employs 10 or more staff. More than a quarter of a million people have found full time employment in a franchised business.
91% of franchisees say they are mainly or definitely satisfied with their franchisor and 80% of franchise brands in this country are UK owned and developed. During the last 2 years one in five franchisees were under 30 when they opted for a franchise business, and the average age for a UK franchise owner is 47.
One other significant statistic is that 8 out of 10 small start-up businesses fail in the first 5 years yet 8 out of 10 franchise businesses are still in operation after 5 years. And this, taken straight from the BFA website “banks in the UK have typically favoured lending to franchised businesses over other stand-alone small businesses on the basis that they were much less likely to fail”
So looking at these statistics is it any wonder that more and more people are searching for the best franchise opportunities. Franchises for sale in the UK are many and varied and it is possible to start the journey now with low cost franchises. Franchise business can cost many thousands of pounds, but as mentioned above, UK banks typically favour lending money to franchised businesses.
The top franchises employ many staff but it depends at which angle someone is looking from as to which they might think are the best franchise investments. The best franchises for sale might be web based online franchises if it is a work from home opportunity someone is looking for. Or if a person would like to be out and about and involved in the community, they might look for a transportation franchise for sale in their local area where they could drive children or the elderly or people with disabilities.
Once a decision is made which type of franchise to get involved with, and whether it is a low cost franchise or a high end franchise investment it is possible to cut down some of the search time by using an approved franchise company. Approved Franchises can help with expert advice and compare a range of franchise companies all in one place.
Enter your details at the top of the page and let Approved Franchises help you find the franchise that best suits your requirements.