Role of BFA in franchising industry of UK
The British Franchise Association or BFA was established in 1977 by various leading franchises in UK. This association helps to promote franchising in UK. It is an ethical and fair community that helps in setting some rules and standards for all the franchisees and franchisors.
Learn about British Franchising Association
One of the best things about BFA is that it provides services and advice to all their members. For this, the BFA has hired professionals such as solicitors, accountants and also experienced franchisees. With the help of an online resource, all the members of this association can read various publications based on franchising in the UK. They also offer franchisor guides, survey reports and other information packs. N addition to all this, the BFA holds seminars for educating and advising the franchisees and franchisors.
The BFA is also known for conducting annual surveys which contains all the latest statistics about the franchising world in UK. These surveys and reports are reliable to know about franchising trends. BFA also announces annual franchisor and franchisee awards. This has an impact on the performance of franchisors and franchisees to some extent.
According to the latest reports, the franchising industry in UK has been growing rapidly over the last few years. The total number of franchises which are operating in UK has gone up by 60%. At present, there are 759 franchises in the UK, which has more 364,000 working employees. The yearly turnover of the whole industry is around £15 billion. So, investing in franchising is a perfect option for earning profits without any risk.