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Franchising industry 'on the up'
14/03/2007
The franchising industry is now worth £10.8 billion, reporting stable growth on last year, according to the latest NatWest/British Franchise Association (BFA) survey.
Overall, the research shows that the sector has grown 44 per cent over the last decade, with the number of franchise outlets almost totalling 34,000.
Franchising now employs some 371,600 people in the UK and it created around 7,000 new jobs in the last year alone, the BFA states.
Additionally, the organisation indicates that there is an increasing amount of franchisors looking to expand their operations overseas.
Mark Scott, national franchise manager at NatWest, said: "With figures like these, it's hardly surprising that the number of franchisors showing confidence in their own business remains very high with 80 per cent positive about their prospects.
"In addition, an impressive 84 per cent of franchisees continue to feel either motivated or highly motivated."
He added that the increase in franchisees looking for growth potential is mirrored in the current activity at NatWest.
Overall, the research shows that the sector has grown 44 per cent over the last decade, with the number of franchise outlets almost totalling 34,000.
Franchising now employs some 371,600 people in the UK and it created around 7,000 new jobs in the last year alone, the BFA states.
Additionally, the organisation indicates that there is an increasing amount of franchisors looking to expand their operations overseas.
Mark Scott, national franchise manager at NatWest, said: "With figures like these, it's hardly surprising that the number of franchisors showing confidence in their own business remains very high with 80 per cent positive about their prospects.
"In addition, an impressive 84 per cent of franchisees continue to feel either motivated or highly motivated."
He added that the increase in franchisees looking for growth potential is mirrored in the current activity at NatWest.