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90% of franchises trading profitably
Over 90% of franchises are trading profitably and the industry contributed over £11bn to the UK's GDP last year, according to figures released by NatWest and the British Franchsie Association (bfa).
Last year saw significant expansion in the industry, with the total number of franchise systems reaching 838 - an increase of 3.6% on the 809 systems recorded last year.
Estimated start-up costs have declined, and new entrants can expect to pay £50,400 in franchise fees and other associated costs to their franchisor - down from £64,900 last year.
"There is little indication so far of the recession having a severe impact on the franchise industry. It seems franchised businesses are in a much stronger position as they have the additional protection of a proven business model and brand and, are a lower risk option for customers," said Brian Smart, director general of the bfa.
Post Date: May 27th, 2009
Last year saw significant expansion in the industry, with the total number of franchise systems reaching 838 - an increase of 3.6% on the 809 systems recorded last year.
Estimated start-up costs have declined, and new entrants can expect to pay £50,400 in franchise fees and other associated costs to their franchisor - down from £64,900 last year.
"There is little indication so far of the recession having a severe impact on the franchise industry. It seems franchised businesses are in a much stronger position as they have the additional protection of a proven business model and brand and, are a lower risk option for customers," said Brian Smart, director general of the bfa.
Post Date: May 27th, 2009
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