Franchising, buying a license to run a pre-prepared business from someone else, covers a very wide range of business types and sizes. From relatively local franchised offerings all the way up to multinationals.
Here are a few figures from the British Franchise Association’s recent survey done in tandem with NatWest.
|Number of people employed in franchising:||621,000|
|Number of franchisee outlets:||44,200|
|Number of franchised businesses employing 10 or more staff:||Over 33%|
|Number of franchisor brands in the UK:||901|
|Annual turnover of the industry:||£15.1bn|
|Number of franchised businesses which have a turnover in excess of £250,000:||Over 50%|
|Percentage of franchise units profitable (including new businesses):||97%|
To put those figures into perspective, 20 years ago the franchise industry had a turnover of £5bn, 379 brands were operating across 18,300 outlets. That’s pretty incredible growth for twenty years.
Further details from the British Franchising Association