The British Franchise Association vows to help make franchising a £1bn industry in Scotland by 2021
: By: Debbie Dennis
Scottish Franchise Week 2019 will kick off a series of events aimed at boosting franchising in Scotland.
Franchising in the UK is flourishing, with the latest statistics reported in 2018 that the industry was worth £17.2bn to the British economy per annum, up over £2bn since 2015. UK franchising also employs some 710,000 people with just over 50% in full-time employment.
These figures make for exciting reading, and with the annual implied turnover in Scotland sitting at £800 million, consistent since the 2015 report, the bfa's mission is to help propel the industry past the billion mark by 2021. While the rest of the UK has shown significant growth, Scotland has stayed on par, which fundamentally means that now is the time to scale up or introduce franchising operations in the country to reap maximum rewards.
With this in mind, the bfa will be hosting a series of events to highlight the benefits of franchising in Scotland, kicking off with Scottish Franchise Week, which will take place from 11/12 September 2019. Scottish Franchise Week, which includes a social evening on 11 September, and then the much anticipated business breakfast followed by the SFW Franchise Opportunities event on 12 September at the Radisson Blu in Glasgow, is aimed at boosting the franchise sector in Scotland by showcasing the huge array of opportunities that are available.
When our 2018 survey showed that the franchising industry has remained consistent in Scotland, I was particularly determined to ensure that we get the region to a new record and into the billions as soon as possible.
There are so many opportunities in Scotland for a diverse range of franchising systems to thrive, and Scottish Franchise Week will prove this to people both within the industry, and those who may be considering franchising as their future, says Pip Wilkins, CEO of the bfa.
She continues: Franchisees across the UK are reporting 93% profitability and six in 10 franchised units turn over more than £250,000, and I think this proves that the franchise model, if followed properly, leads to successful, sustainable and profitable businesses. We need to get this message out across Scotland and shout about the huge success stories.