Results of 2008 UK Franchise survey
The annual BFA/Natwest franchise survey monitors the attitude and performance of the franchise sector in the UK. It helps create a larger picture of the franchising contribution to the British Economy. The survey conducted by the BFA is believed to be one of the leading studies in franchising.
According to the survey, the franchise industry in the United Kingdom is estimated to be worth around 12.4 billion pounds. The total number of franchise systems is 809, which is works out as an increase of three percent in the last five years. It has been estimated that around 383,000 people are employed in the franchising industry. The average turnover for any franchised business in the UK is £360,000. Around 91 percent of franchisees say that their business is profitable to a significant extent.
The amount that is borrowed in order to finance a franchise varies by quite a large amount. The average is about seventy thousand pounds. The largest sector in franchising is the property services followed by personal services. The main route for recruitment continues to be the internet.
The average age of the franchisees is 47 years old. Around 66% of the new franchise recruits are male. However, female franchisees form the majority of the personal services sector, coming in at 61%. 37% of all franchisees questioned are graduates.
56 percent of the franchisees use online franchise information sites when they search for information on other franchisors. BFA membership has also increased by 45%.