In all the daily doom and gloom about the state of the economy. One could be forgiven for worrying about what will I do if I lose my job or if my company has to shut down through a lack of business.

Well here’s the good news the world can be your oyster with a choice of careers and an opportunity to control your own destiny by seriously looking into franchising

UK Franchise Facts Source: UK February 2008 Franchise Survey by British Franchise Association & Natwest

• The franchise industry grew at 15% whereas the UK economy grew by only 3.1%
• The estimated annual turnover of the business format franchise sector is £12,4billion
• Using a strict definition of business format franchising, the number of active franchises identified was 809. This represents an increase of 3% on 2007 and demonstrates the increasing choice for potential franchisees.
• The number of franchised units is estimated at 34,200.

If you’re hardworking, want to succeed and have the confidence to go it alone but trading under an established brand in a proven business then you should be looking at taking a franchise. The types of franchises available range from a one man van service up to a master franchise for the whole of the UK and everything in between.

The cost can vary from £15,000 to £250,000 with the franchisor providing training in all aspects of the business including setup, business systems, marketing and operations to name a few.

Franchising is a partnership where both parties have a vested interest in success, while you own the business, ongoing support is there to help you.

As a franchisee you will be building up a saleable asset so that, when you sell the business, you will receive more than you originally paid, providing, of course that you have made a success of the business.

If you are thinking of investing in a franchise, look for those who are British Franchise Association (BFA) approved; take both legal and financial advice and talk to existing franchisees. In any new business venture always ensure that you have the backing of your family.

Finally if the franchisee projected earnings seem to be too good to be true then they probably are!

The information for this article was supplied by Franchise Your Business Limited

This article originally appeared in The Independent 9^th December 2008

Tags: advice, franchise, opportunities, the independent

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