Infographic: Today Success of UK Franchising Businesses
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.