UK Franchising is stronger than ever
The 30th survey conducted on behalf of the British Franchising Association (BFA) and in association with Natwest has painted a picture of an industry that has gone from strength to strength to become stronger than ever.
The franchising industry is thought to contribute £15.1 billion to the UK economy every year – an increase of 46% over the past 10 years and an increase of 10% since the last survey in 2013. Accordingly, over the past decade, the expansion of the franchising industry has exploded, and the number of people employed in franchising has risen by a whopping 70% to 621,000 individuals at the end of 2015.
The boom in the industry has equated itself to a consistent rise in average turnover for each business and over half now claim an annual turnover of more than £250,000. In line with this, 2015 was the best year that the Signs Express group has experienced, boasting a record turnover and some of the most innovative signage solutions that the industry has ever seen on a regional and national level.
A lynch-pin in the overall success of the industry is that the success rate of newly established franchised businesses is much higher than for other SME’s generally. Ownership changes in all franchised businesses was relatively low at 4.6% and 1 in 5 franchisees who launched their business in the last two years was under the age of 30.
With young blood entering the fray and 97% of franchisee-owned units reporting profitability along with record levels of turnover, this survey foretells an industry sector on the rise. With its current prosperity set for sustained growth, now is the best time to get into franchising and who better to work with than a well-established business with over 25 years’ of experience and a tried and tested business model?
Signs Express can offer you the opportunities and ongoing support to make your business dreams a reality. With available territories across the UK and purchase options to suit every pocket and every aspiration, Signs Express is the choice for you.
Give Sara Jeffery, Franchise Recruitment Manager a call today to discuss how you can become a part of this successful franchise industry: 01603 625925