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Franchise Opportunities
What Franchise Magazine takes a look at all the franchise opportunities available in the UK in 2012. The website contains an extensive directory of some of the best franchises currently available in the UK. In the magazine you will find expert reviews and in depth research into business trends alongside analysis from respected market leaders. By arming yourself with the facts you can be sure to find yourself a highly lucrative UK franchise opportunity.
What is a Franchise?
A franchise is a tried and tested business format that has been proven over a long period of time to be both viable and profitable. The franchise will also be readily transferrable to a new geographical area and offer the same probability of success as the business model upon which it is based. Around 80 per cent of all new stand-alone business start-ups fail within the first two years – primarily through inadequate market research, underfunding, poor financial management, lack of business skills, ineffective marketing and poor customer service. But because franchising is based on tried-and-tested business formats and an established track record of success, the statistics for franchising are reversed – with well over 80 per cent of all new franchisees remaining in profit after two years. Consequently your investment in a new franchise offers a probability of success which can never be matched by simply 'going it alone'.
Franchises For Sale
If you are looking for franchises for sale in the UK then take a look through our directory for some of the best opportunites available on the market for budding entreprenuers. A franchisee buys a license to operate an established business in another location - as the owner - but with the full support of the franchisor throughout the life of the franchise. You are therefore in business as the owner – but not on your own. The franchisor's financial wellbeing is wholly dependent on the success of its franchisees and the franchisor will provide initial and ongoing training together with support and motivation to ensure the franchise network is an ongoing success story.
UK Franchises
In the UK there are 897 business franchise opportunities with 36,900 units, employing 521,000 people. UK franchising has an annual turnover of £12.4 billion. It is big business and continues to grow despite the current economic downturn.
Some franchise opportunities are advertised and can be found under franchises for sale in the national press, in franchise magazines or exhibit at the various franchise shows that take place throughout the year. Other resources, such as this website, will also have comprehensive information available the franchise opportunities currently available in your prefered sector. Established territories - often called franchise resales - may also become available from time to time due to franchisees retiring after profitably building the business or taking their profit to do other things. These resales present an opportunity to buy a territory with an established customer base and a trading history already in place.
Some famous UK Franchises
Many franchises in the UK are household names such as Subway, Bang & Olufsen, McDonald's , Boots Opticians, The AA and Pizza Hut. Combined, franchise opportunities in the UK have an annual turnover of £12.4 billion. A third of new franchisees have a degree and an average age of 47. However, a franchise opportunity remains a viable proposition for those with less formal educational backgrounds, with one in 10 new entrants having no qualifications at all. Almost all franchisors provide business management training alongside industry specific training so previous experience is usually not necessary.
Buying a franchise
According to the latest NatWestritish Franchise Association survey, the average start-up cost for a franchise is £46,600. Average franchisee turnover is currently £335,000 and two-thirds of franchisees trading for less than two years say they are making a profit. Cheap franchises are also available, with many investment levels below £10,000. For their money, franchisees get full training, ongoing support, assistance with marketing and, in some cases, specialist hardware and software with which to run their businesses.
Before you buy a franchise, it is important to research the business thoroughly, talking to existing franchisees and seeking advice from an accountant and a solicitor who specialises in franchising. And franchisors are highly selective when appointing new franchisees who, as owner-operators, will be responsible for maintaining the franchisor's brand image and standards of service in their new territory.