Latest survey confirms franchising remains favoured route to success for entrepreneurs
Published: 06 December 2023
“The majority of those surveyed are under 45, proving a new generation has confidence in the franchise model”
Data from a recent survey conducted by The Franchise Exhibitions and BusinessesForSale.com brings fresh perspectives to light for anyone looking to invest in a franchise.
The revealing answers to questions such as: ‘What makes a franchise brand attractive?’ and ‘What prevents you from investing?’ paint a picture of franchising as a much-trusted business model for both existing and new entrepreneurs, with an overwhelming 75% of respondents agreeing that the advantages being a franchise owner far outweigh any drawbacks.
For 57% of responders it’s exactly the backing and support that a franchisor brings along with the established reputation of their brand that holds the key to success. Similarly, over half of those surveyed affirmed that among the benefits drawing them towards the model are the existing marketing strategies and the ongoing training and support that franchising is famous for.
And, with the majority of respondents being under the age of 45, it’s safe to say the results reflect a new generation’s strength of confidence in franchising as a route to business success!
Alongside these figures, the survey found that:
• 48% of entrepreneurs believe a franchise should demonstrate environmental, corporate, and social responsibility
• Nearly half questioned are looking for a franchise that comes with strong growth potential
• 70% of entrepreneurs want to meet franchisors face-to-face before they make a decision
• 52% say speaking to existing franchisees is crucial
These, and many other requirements prospective franchisees have as they embark on their research, are easily met during a visit to one of the Franchise Exhibitions held twice a year at Olympia London and at The NEC, Birmingham. The next event, The British & International Franchise Exhibition, takes place over 2 & 3 February 2024 at Olympia London. For more information and to register for free tickets visit franchiseinfo.co.uk.
BusinessesForSale.com works with over 700 franchise brands across various UK regions – from food to education, there’s a business opportunity to match whatever you’re looking for.
