Around 250,000 new jobs are to be created by the franchise industry within the next 18 months, according to Franchise Development Services (FDS). Roy Seaman, founder and Managing Director of FDS, has revealed there is a wide range of companies that are looking to expand their businesses by franchising. He said: “We are currently working with 75 large companies wanting to expand their franchise networks.”For instance Subway, the fast food outlet, wants to expand its network from 1,500 outlets in the UK to 3,000 in the next three years. And our research indicates there are as many as 250,000 people considering owning a franchise”.
“Banks are much more willing to lend money to buy a franchise since they know that purchasers are moving into a proven business model and the odds on failure are nine to one against.NatWest and RBS have recently announced they have a £100 million fund to be made available to both companies seeking to expand by franchising as well as individuals who want to become a franchise owner, and they have special departments to offer advice. It is possible to become a franchise owner for as little as £10,000 whereas the larger retail brands can cost £250,000.”