As the UK continues to experience steady economic growth the franchise industry has emerged as a jewel in the crown of the recovery.
There is currently a strong desire across the country to become part of a franchise industry business as a result of the range of opportunities on offer and the prospect of high profitability and growth opportunities.
The franchise industry has enjoyed enormous success during the past 20 years, growing its annual turnover from just over £5 billion generated by 379 different brands and 18,300 franchisee outlets, to an impressive annual turnover of £13.7 billion from 930 franchisor opportunities and 39,000 franchisee outlets, according to the 2013 NatWest/bfa Franchise Survey.
It highlights how the sector has enjoyed 20% growth during the past five years, compared to a 2.5% contraction in the overall economy during the same period. It also reveals that 92% of Franchise Owners reported profitability, including new businesses.
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.
The etyres franchise, the UK’s first 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.
In an uncertain economy, the etyres Franchise has continued to grow due to the calibre of its Franchise Owners, successful nationwide brand awareness campaigns, continued investment and commitment to innovation.