The announcement from the sandwich chain Subway that it will open 600 new branches and create 6,000 jobs came in a sea of big redundancy announcements, but it is no surprise to the Franchise industry who are finding business is thriving, even in these turbulent times. The announcement comes straight on the back of the news that McDonalds and Starbucks are expanding, creating 2,500 and 5,000 new jobs respectively. Consequently, more people than ever before are seriously considering Franchising as an option for starting their own business, highlighted by next month’s London Franchise Show which has received 232% more ticket requests for the event than it had at this stage last year.
The government are once again calling on those with the entrepreneurial spirit to go forth and rebuild our economy, earlier this week Prime Minister David Cameron said at the launch of ‘Business in You‘(a major new campaign aimed at inspiring people to start or grow their own businesses):
“Small businesses and entrepreneurs are the lifeblood of the British economy and I am determined that we, working with the private sector, do everything we can to help them to start up and to grow in 2012. I want to encourage people to go for it and make this the year of enterprise – whether that is fulfilling their dream of starting a new business or taking the leap to grow their business, to employ more staff, or to start exporting.”
However finding the right business to launch in such difficult times can be risky and the harsh reality is that one in three new businesses fail within the first three years. In stark contrast 98% franchise businesses are still going after 3 years and the percentage of franchise units profitable (including new businesses) is 90% (British Franchise Association (BFA) survey from Natwest). The other major benefit of these businesses is that they come with an established brand, take care of the niggly accountancy paperwork, provide marketing support and a clear proven template on how to run the business successfully.
The Franchise Show is a free resource for anyone thinking of buying a franchise, taking place at ExCel London over 24th – 25th February 2012, the show will host 120 brands from fast food to locksmiths to accountancy firms. There will be over 100 free seminars from the industry experts, and the opportunity to find out about franchise financing options.
There has never been a better time to own and run a franchise, regardless of industry. To find out more about franchising visit www.thefranchiseshow.com.
