Franchising in the UK is flourishing, with the latest statistics reported in 2018 showing that the industry was worth £17.2bn to the British economy per annum, up over £2bn since 2015. UK franchising also employs some 710,000 people with just over 50% in full-time employment.
These figures make for exciting reading, and with the annual implied turnover in Scotland sitting at £800 million, the British Franchise Association (bfa)’s mission is to help propel the industry past the billion mark by 2021.
With this in mind, the bfa will be hosting a series of events to highlight the benefits of franchising in Scotland, kicking off with Scottish Franchise Week, which will take on the week commencing September 9. Scottish Franchise Week starts with both prospective franchisee and prospective franchisor seminars on September 10, followed by an educational forum and Social Evening on September 11, and then the much anticipated Business Breakfast returns on September 12 with Franchise Opportunities at the Radisson Blu in Glasgow. The aim of the week is to boost the franchise sector in Scotland by showcasing the huge array of opportunities that are available.
“There are so many opportunities in Scotland for a diverse range of franchising systems to thrive and I am particularly determined to ensure that we achieve a new record and boost the industry into the billions in Scotland as soon as possible” says Pip Wilkins, CEO of the bfa.
She continues: “Franchisees across the UK are reporting 93% profitability and six in 10 franchised units turn over more than £250,000. I think this proves that the franchise model, if followed properly, leads to successful, sustainable and profitable businesses. We need to get this message out across Scotland and shout about the huge success stories.”