The recent data from British Franchising Association reveals some interesting facts about franchising contribution to the UK economy. It states that the contribution is now reckoned to be £15.1 billion, an increase of 46% over the past 10 years and up 10% since the last survey in 2013. The number of franchisee-owned businesses has increased by 14% in two years, to 44,200 with average turnover of more than £250,000 claimed by over half of those businesses.
Reed Commercial created a very useful infographic presenting more detailed information on the recent annual report of British Franchising Association.
As you can see from the infographic 80% of franchise brands in the country are UK-owned and developed. It has also tremendous impact on employment as 621,000 individuals are employed full-time in this sector.
When you look at this data, It is worth to consider seriously ‘to become your own boss’ as 56% of UK franchising businesses indicated themselves as ‘quite’ or ‘very profitable’ and 29% now run multiple units.