Franchise sector reaches new highs
Franchising businesses across the UK have reported record highs in turnover and full-time employment, according to a NatWest survey.
The research, which looked at the five years since the UK entered recession in 2008, shows 20% growth in the sector compared to a 2.5% contraction in the overall economy during the same period.
What’s more, with around four out of every five brands that operates a franchise model in this country being UK-owned, domestic success is translating into export success with one in four expanding their business model abroad.
Franchisors expect growth to continue through 2014, with almost nine out of 10 stating they believe trading conditions will improve in the coming year.
Impressive long-term trends continued at the franchisee level too, with 92% reporting profitability and one in four running multiple outlets.
Graeme Jones, head of franchising at NatWest, comments: “In the 30 plus years that NatWest has had a specialist franchise team, this is the most robust set of results from our annual survey and we are delighted to continue our support for the sector.”