Edward Daniel

Franchising: Is Franchising the Answer?

Franchising: Is Franchising the Answer?

As a quintessence marketing tool, franchising connects successful growth with those that possess capital and business acumen to take the brand to the next level. Powerful data from the 2010 NatWest/BFA Franchise Survey reveals that the UK franchising industry stands at a significant £11.8 billion. Notwithstanding harsh economic conditions, UK franchise businesses continue to expand with 842 franchise systems identified, mean average turnover of £353,000 and average opening cost of £46,700. Yet, what leads to the durability of a franchise or the certainty of a successful concern? Perhaps, why so many new businesses fail is that they simply run out of capital before they reach profitability and attain a positive cash flow. A franchisor will learn through error and omission, and en-route gain... »