Franchises are safest way to start a new business
Starting a franchise is the safest way to start a business, with 90% of new franchises succeeding, according to a new report.
With more than 250,000 people actively looking at owning their own franchise business and over 1,500 franchise brands expanding nationwide, Franchise Development Services (FDS) is publishing the first comprehensive report reviewing all aspects of the UK franchise industry.
Managing director at FDS, Roy Seaman, said: “The franchise industry’s good health is evident. So far this year, 146 new franchisors have entered the market in the UK providing increasing opportunities for people to own their own business.
“The major banks with franchise departments are actively loaning money to the franchise sector. People who have been made redundant or have simply lost their job are exploring franchising as a proven business format for their skills, energies and ambitions.”
The report launches National Franchise Week which runs from September 27 to October 3, culminating in The National Franchise Exhibition at the NEC Birmingham on Friday October 1 and Saturday October 2, where more than 150 franchise brands will be exhibiting at the show.