Posted on: 30 January 2015
More than half a million people in the UK are employed in franchising, as franchisors, franchisees or as someone involved in supporting the sector (such as franchise consultants). Almost 25,000 are franchisees, operating 39,000 franchised units.
There are also a surprising number of newer, smaller franchises that are achieving significant brand presence, including Autosmart, the van franchise, Right at Home, the home care franchise, and Total Clean, the commercial cleaning franchise.
However, despite franchising being around since the late 1800s, there are currently less than 1,000 franchise systems in the UK. When you compare this to the total number of private businesses in the UK (almost 5 million), it becomes clear that even though there are some powerful franchise brands out there, it is still a relatively small market.
Whether there is an opportunity in the franchise market for you or your business, depends on your business type, your target customers, your products and services and your personality. So if you’re striving to become the next McDonalds, it’s clear that plenty of research needs to be done up front to make sure it’s the best strategy for growth.
Use the content guide below to answer your franchising questions:
- What are the advantages and disadvantages of franchising?
- Does my business suit the business model?
- What do I need to consider when setting up the franchise?
- What are my options for funding a franchise?
- How do I recruit the right franchisees?
- What are the advantages and disadvantages for the franchisee?
- Will I suit the franchise model?
- Where do I find franchise opportunities?
- How do I choose the right franchise business?
- What questions should I ask before buying?
- How can I finance becoming a franchisee?
- How do I make my franchise successful?
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The information and tools contained in this guide are of a general informational nature and should not be relied upon as being suitable for any specific set of circumstances. We have used reasonable endeavours to ensure the accuracy and completeness of the contents but the information and tools do not constitute professional advice and must not be relied upon as such. To the extent permitted by law, we do not accept responsibility for any loss which may arise from reliance on the information or tools in our Insight Hub.