Franchising is becoming more powerful
It seems that with each year that goes by, there are more people getting involved in franchising as the benefits of this type of business become better known.
Because of this growth in interest in the franchise industry it is now estimated that it is worth £11.4 billion and the number of franchise systems has increased by 3.6 per cent in a year.
In times that a difficult for businesses, franchising has become a popular option and the costs to get one started have actually decreased recently with the estimated cost of starting a franchise now being £50,400. This is why an estimated 467,000 people are employed in franchising.
Franchising has become a viable option for all sorts of groups of people. For example, it has become a popular choice for people who have been made redundant. They find that franchising can give their career a completely new direction and one that is exciting and successful.
Another group of people who seem to be keen on getting involved in franchising is graduates. 42 per cent of franchise operators are graduates and this way of working has proved beneficial for those trying to get their foot in the door when it comes to business.
These statistics prove that franchising is becoming more popular and is hugely beneficial to a huge range of people.