Franchising in UK and Ireland Equals Big Opportunity

0
0
asked about 10 months ago

The UK & Irish economies have picked up significantly over the past few years, equalling big opportunity for those looking to franchise on the big stage.

After the market downturn of the 2007-2008 global financial crisis (GFC), which lasted several years, the economy in the UK and Ireland has seen a progressive and steady turnaround. And this has led to strong growth in the franchising sector within these two countries.

Big Business Opportunity

Both the U.K. and Ireland have strong, steady economies that have experienced continued positive growth over the last 10 years. In terms of the respected Ease of Doing Business rankings by The World Bank, these countries rank highly, with the U.K. ranked in seventh place and Ireland not too far behind in 13th place. A high Ease of Doing Business ranking means a particular country’s regulatory environment is more conducive to opening a business.

The potential for growth in these countries is significant. With the U.K. population sitting at over 65.5 million, it is the fifth-largest national economy in the world. Ireland, with a population of over 4.7 million, in ranked as one of the wealthiest countries in the Organization for Economic Cooperation and Development (OECD).

Markets are on the Increase

Now one decade on from the GFC, franchising experts have some positive statistics for the franchising sector within the UK and Ireland. According to experts, there are over 900 franchise brands in the UK, contributing an estimated US$20 billion to the UK economy. With over 44,000 franchisee units, employing a total of 621,000 people, the failure rates of franchisee units are very low, sitting at only 0.2 percent.

While Ireland was hit heavily during the GFC, the Irish Franchise Association reports a significant increase in franchising activities, including increased interest from international franchisors, increased levels of investment and confidence and increased sales.

Tried and Tested Franchising Markets

According to franchising expert, Derek Cafferata, CEO and President of All State Franchise Finders, the UK and Ireland are very popular for successful U.S.-based businesses looking to take their brand globally.

“These markets are ripe with entrepreneurs who are keen to be business owners but aren’t interested in outlaying capital on a brand new business concept,” says Derek Cafferata. “The idea of stepping into business for yourself, without being by yourself, is a big drawcard for many.”

All State Franchise Finders the Franchising Experts

All State Franchise Finders have a wealth of knowledge and experience in the franchising industry, both across the United States and around the globe.

For those entrepreneurs or business owners looking to expand their brand globally, contact All State Franchise Finders on 1-800-544-2161 or visit allstateff.com today. All State Franchise Finders are your franchising experts.