Fiducia Commercial Solutions - Why Buy a Franchise?
So why buy a franchise when you could set up your own business? Buying a franchise will bring you a certain degree of comfort. You are buying into a proven business model and many of the costly teething problems that you experience when setting up a business of your own have already been dealt with.
If you want to work for yourself but don’t have any experience of setting up your own business or simply don’t want the cost or work involved then a franchise could be for you.
We have included below some of the details from the 2008 Business Franchise Association/NatWest UK survey:
The total number of franchise units in the UK is now 34,200 which is the highest ever figure recorded
91% of franchised units made a profit in 2007
The above figures make fascinating reading. It shows the confidence that is in the franchise market and with 91% of franchises making a profit in 2007 with an average turn over of £360,000 you know that there is more than a good chance of being successful.
The support that you will receive from your Franchise Business Development Manager will mean that you will never be on your own. They will guide you as much or as little
as you want.
The latest Bank of England report also shows that commercial lending continues to be strong. I have detailed below an exert from the latest report. You can read this in full through the Bank of England website www.bankofengland.co.uk
‘Lending to Other Financial Corporations rose by £73.9bn in Q1, mainly accounted for by increased lending to other financial intermediaries (+£31.7bn), other auxiliary activities (+£27.6bn) and fund managers (+£9.2bn). Lending to Non
Financial Corporations rose by £29.2bn, with increases in lending to development, buying, selling and renting of real estate (+£9.3bn), food, beverages and tobacco (+£6.7bn) and construction (+£3.0bn).’