Franchising is proving itself to be a pretty ruddy secure option during the recession. 90% of franchises are still trading profitably this year, even though turnover levels have dropped by 9% to an average of £326,000, according to research by NatWest.
68% of the UK’s 34,600 franchisees are also assured their business will either improve or stay the same over the next 12 months. And looking at the overall popularity of franchises, it’s worth noting the total number of franchise systems has gone up from 809 to 838 since last year.
So just what is it that’s making franchising seem so darned rosy in the midst of one of the most world-stability-threatening economic downturns in human history?
We asked the franchise director of Natwest to explain. Find out his answers in this video explaining what franchising is and who's suited to franchising. After all, with franchising providing several advantages over starting up solo, security being a big one, you might well want to have a think about whether it’s the right option for you.
Already made that decision? We’ve even gone to the trouble of knocking up this handy video guide on how to buy a franchise.