Travel & Leisure Franchises

Travel & Leisure Franchises

The travel & leisure industry is worth over £115bn to the UK economy and covers a diverse range of hospitality & other business types. Travel & leisure franchises are as equally diverse and have grown in this huge business sector.

The travel & leisure industry includes hotels, restaurants, cafes, bars & coffee shops, but the travel industry alone is a huge sector. The travel industry in the UK was worth around £39 billion last year & that's just holidays us Brits had abroad so the sector is huge. This has given rise to travel agency franchises, entertainment franchises & more general travel & tourism franchises and as we spend more on travel & our leisure this is set to grow.

Cruise franchise opportunities are also in exceeding demand. Many elderly people and families alike are opting for cruise holidays not because of their beautiful sights and excellent package deals but because the latest ships now have a wide range of onboard facilities and entertainment. Cruise franchises are becoming not just incredibly popular but also incredibly lucrative too. Find your ideal travel and tourism franchise at Franchise UK.

How to choose the right travel and leisure franchise for you

Franchising is a hugely rewarding way to own and build your own business, and research suggests that entrepreneurs are far more likely to enjoy success via the franchising model than if they try to go it alone with an independent business. The famous anecdote is that 80% of independent businesses fail in five years - but 80% of franchises succeed - and 300 new businesses worldwide now franchise every year. (source: https://appsthatdeliver.com/insights/franchise-statistics)

Why do franchises succeed?

The secret to success is buying into an existing system when you license a franchise business geography. The brand, the offer, the brand awareness and reputation, the system - with logistics, marketing, supply, training, and so forth - is already in place. The franchise operator has already done the hard work in building up the business as a brand, and now, as a franchise licensee, you get to replicate that success locally in your geography, using the system to build a profitable franchise rapidly. Yes, you need to work just as hard as a 'regular' entrepreneur when you buy a franchise, but your hard work results in a far greater likelihood of success.

Why choose travel and leisure franchises

Found yourself looking at travel & leisure franchises for sale? You're not alone. Buying a travel land leisure franchise opportunity is very popular in the current climate, as people look forward to getting back to normal after the past couple of years and enjoying life once again. Whether it involves travel at home or further afield, there are so many opportunities to build a successful and rewarding when you start running a travel & leisure franchise opportunity - but you first have to choose the one.

Here are some of the main things to consider:

Your goals

Before starting a travel & leisure franchise, know what your own goals are. Are you looking to work full-time and work extremely hard to build a high-income, high-growth franchise with the opportunity to grow your territory? Or are you looking for a part-time, family-friendly franchise that you can grow organically over time and around your other commitments? There is no right or wrong answer here, but it's vital to be able to identify your own goals and motivations to find the right travel franchise businesses for your own unique needs and drivers. Consider too whether certain franchises will fit with your existing responsibilities. For example, some people already work when they look at buying into a franchise, and they are seeking something they can start part-time but with opportunity for future growth. Others will go in feet-first and start the franchise licensee business as they would their venture - full-time and with the necessary investment in place.

Your experience

Do you have existing experience within the travel and leisure franchise industry? What is your background and skill set? What do you like doing and what do you prefer to have others do? Knowing this can help you to ascertain whether a certain franchise is likely to be a good fit or not. Consider how your knowledge, skills and experience could help you to leverage an interesting franchise opportunity within this interesting, high-growth and rewarding sector.

The finances

Remember, there are various profitable travel & leisure franchises for sale but you must do your work to identify them. Get as much information as you can about the financials of each business. Learn how to read financial information and ratios so that you can be as informed as possible and confident about whether the business is right for you and will give you the right returns. Some travel and leisure franchises may have a low-cost entry-point and others will require a higher investment; so make sure you are clear on the likely ROI and running costs to assess likely profitability.

Growth potential

If you're keen to build a high-yield, high-growth business for the longer term, then look at its overall growth potential. With so many travel and leisure franchises to buy, it's important to identify those which will have the greatest traction in the market. Look at customer needs, market trends, competitors, saturation in your target geography and so forth.

Support

How does the master franchisor support the franchise network? What are the arrangements for training and development? How much support is given to get your territory off the ground? Does the head franchisor invest in its franchisees? What's the training like? How much money is pumped into central marketing? How good is the communication within the network? How are success and achievement celebrated? Find out everything you can about the support from the central team as you must know where your franchising fee is going and whether it is being used to good effect. Find out about supplier arrangements and exclusivity contracts, websites and digital support, marketing resources and assets, central advertising, software licensing and other key aspects.

Existing franchisees

When starting a travel & leisure franchise, it helps to know what other franchisees think about the franchise and their experiences within the system. Attend any conference or presentation that gives you a chance to meet existing franchisees and to hear about their experiences. Ask any questions that you can, go prepared and note down answers clearly, because you may forget key details later down the line. Existing franchisor networks are a real insight into how good the franchise is.

What does your gut tell you?

So you've reviewed several travel & leisure franchises for sale and weighed them up against a structured list of criteria that has allowed you to create an objective assessment of them. Now, attend the presentations, read the literature, ask all of the questions that you can and ask yourself - what is your gut telling you. Beyond objective facts and figures, you are very likely to have a strong sense of affinity and excitement about a certain offer. Research these franchises more closely as they are very likely to lead you to the perfect travel & leisure franchise for your own needs, ambitions - and future success.

Statistics around the travel industry.

Now if you are still unsure around pursuing a future career in the travel & leisure franchise industry we will now list some more statistics around the whole travel sector in the UK. To show the potential customer base and business potential of investing in a travel franchise opportunity in the UK.

Did you know?

• Since 2010 the travel industry has been the fastest growing sector in the UK.
• Britain has a forecast of having a travel industry worth £257 billion in 2025.
• Back in 2013 the travel industry provided 3.1 million jobs in the UK alone.
• In 2018 37.9 million tourists visited the UK.
• £22.5 billion was spent by overseas travellers in the UK in 2016.
• Inbound tourism is set to grow from £21 billion in 2013 to £57 billion by 2025.

What do these statistics show for the travel industry in the UK?

These statistics show that the UK's travel industry is constantly showing growth yearly. Which helps the UK economy by providing jobs and also helps travel business owners from the increase of tourism volumes to the UK. So if you are looking to buy a travel franchise these statistics have gave you some inspiration on your future career path and how much can be achieved in this sector.

Find out more about travel & leisure franchise opportunities

Keen to find the right travel and leisure franchise for you? Browse franchise-uk.co.uk - the biggest directory of franchises in the UK and find the best franchises with active openings for new franchisees.