Expert claims franchising is ideal path for many
By: Deborah Bates
07 March 2011
An expert writing for This is London has claimed that investing in a franchise could be an ideal path for many Brits looking to start their own business.
According to Lucy Tobin, franchising really took off throughout Britain's economic downfall, with 35,000 franchisees working in the UK alone in 2010.
Furthermore, the myriad of franchises provided employment for some 450,000 in 2010; boosting the British economy by £11.8 million, according to Tobin.
The expert added that the increase in people taking up franchises could be attributed to the lower start-up costs, claiming: "Over the past three years, franchising fees have fallen 30 per cent, to an average £46,700."
"That has made it an increasingly popular option for employees. Working under the umbrella of a bigger brand which has a tried and tested business model also improves wannabe-entrepreneurs' chances of securing credit."
Those inspired to check out the best franchise opportunities should also take note of the recent news that the RBS Group has recently created a £100 million 'Franchise Fund' for budding businessmen and women.
Byte Start reported that the fund, which asks for a one per cent arrangement fee, could help Brits to start their own business by investing in a franchise - a sector which has proven itself to be recession-proof, according to RBS representative, Peter Ibbetson.
The spokesperson claimed that the funds would help increase the volume of businesses being created, and in turn, help employment: "Everybody wants to see banks funding business growth - this is exactly what this will deliver."
"For many people left out of work by the recession, franchising is a great way to start up a business - plus they get the support of a big brand behind them."
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