Franchise Ireland magazine - past articles
bfa news
May 2007
Franchising grows twice as fast as UK Economy
The much anticipated 2007 NatWest/British Franchise Association survey is now out and reveals that the franchise sector is worth a record £10.8 billion and has grown twice as fast as the UK economy.
Commenting on the new report, Dan Archer of the bfa said, “The growth in turnover by £500 million is testimony to the position of franchising as an important contributor to the UK economy. There are more people expanding their business through franchising, more starting their own business through franchising and more people employed because of franchising, signifying the impact the sector has both at a national and local level.”
Following on from last year’s exceptional performance, the industry has gone on to report steady, stable growth, as the market shows signs of maturity.
For prospective franchisees and franchisors, it is important to carry out thorough research on the franchise market and the industries you may be interested investing in. An ideal way of doing this is by referring to the annual NatWest / bfa survey which contains the latest statistics on franchising in the UK.
Now in its twenty-third year, this survey is the most established and reliable source for data on franchising trends.
The annual NatWest / bfa survey is available to purchase from the bfa’s bookshop online at www.thebfa.org or by calling 01491 578 050.
The decision to invest in a franchise is an important one. You will need as much information at your fingertips in order to evaluate your suitability and the potential franchises you may be interested in running for yourself.
But if you are in full-time employment and time to attend an educational workshop or seminar is scarce, learning about franchising at your own leisure and when appropriate for you will be a vital part of the due diligence process.
The British Franchise Association recognises the need by prospective franchisees for personal study of franchising and has compiled a comprehensive online bookshop.
The bfa bookshop contains a comprehensive range of texts, DVDs and videos that will help to answer your questions on franchising. Whether it be international franchising, the latest research on the sector, an insight into the code of ethics, directories of bfa members, introductory books and guide packs conveniently boxed and packed full of information, the online bookshop houses a vast array of items that are easily accessible and payment can be made online.
Visit the bookshop at www.thebfa.org/bookshop.asp and browse the collection or for a personal mail order service call 01491 578 050.
