Scottish franchising worth nearly £1billion
Published: 29 April 2016
Did you know Scottish franchising could be worth as much as £1billion to the Scottish economy by 2020? The prediction from the British Franchise Association (bfa) has been announced as arrangements begin for Scottish Franchise Week 2016, which runs from 16-20 May.
This year, Scottish Franchise Week (SFW) will be focusing on ‘unleashing the entrepreneur within’, reflecting the ability of franchising to empower people to become their own boss. The week will celebrate franchise success stories from across Scotland and raise the profile of the booming franchise sector through a series Scottish franchising worth nearly £1billion of events and educational seminars.
In 2015 franchising contributed £800million to the Scottish economy – that’s up 14 per cent in two years! Plus, the country is home to 2,200 franchisee owned businesses that are collectively responsible for around 32,000 jobs.
Pip Wilkins, chief executive of the bfa, said: “The franchising boom in Scotland is being driven by a thriving mix of local businesses alongside big-name brands identifying the Scottish market as key to their strategic plans.
“They’re giving Scottish residents, many of whom had no previous experience of running a business, the opportunity to fulfill their ambitions of being their own boss, and those people in turn are creating jobs and generating wealth for their local communities.
“There is also a superb franchise support network in Scotland with expert consultants, lawyers, accountants and bankers who have the expertise to help both franchisors and franchisees succeed in their businesses. With the level of confidence in Scotland and the upward trend, there is no reason why the sector cannot achieve or even exceed £1billion in value by 2020.”
Suzie McCafferty, managing director of Platinum Wave and 2016 chairperson of the bfa’s Scottish Forum, commented: “There really couldn’t be a better time to get involved in franchising in Scotland, the market is growing as a result of continued investment, with some really exciting opportunities available. Whatever your interest in franchising, the events during Scottish Franchise Week have something for everyone.
“From learning how to franchise your own business, to getting great advice on choosing the right franchise for you and becoming your own boss – if you are interested in franchising I can’t think of a better place to be; it’s a real showcase of the strength of the industry in Scotland right now!”
Click here to find out more about the British Franchise Association.
