Franchising contributes over £14 billion to UK market
A survey conducted by Franchise Development Services (FDS) has found the franchising has contributed an estimated £14.4 billion to the UK economy in the last 12 months.
FDS revealed in its report 'Franchising in the UK, that the UK franchise owners are achieving a 91.8 per cent success rate, with only 8.8 per of franchise owners reporting that they are not breaking even or better and 61.7 per cent describe their businesses as 'satisfactory' or 'highly profitable'.
"Franchising as a sector natually outperforms the economy during any economic circumstances because it is based upon developing highly stable business concepts and replicating them across national networks of enthusiastic and motivated franchise owners," said Professor Roy Seaman, Chairman of FDS. "In an economic downturn the difference becomes pronounced because so many franchised businesses continue to perform well while other businesses suffer."