Increasing amounts of unemployed turning to UK franchising opportunities
By: Joe Elvin
18 March 2011
More and more unemployed Brits are finding success starting their own franchise, according to Insider Media.
The business information website have gone as far as claiming that the UK franchising industry is being "fuelled" by those who have lost their jobs due to the recession.
Tom Endean, marketing manager of the British Franchising Association, claimed in an interview with the site that the continued growth of the industry was due to the increasing success rate of franchises in the UK.
This was confirmed by Bizinfonetwork.org, which stated that around 95 per cent of UK franchises become profitable.
Endean went on to say: "Historically when there’s an increase in uncertainty and unemployment, more people look at starting their own business."
"But [with a franchise] the hurdles that would normally floor a start-up are reduced or removed. The franchisors have already been through the pain, the expense and the learning curve of finding a business concept that works."
Fellow industry professional, Nick Strong - who is the managing director of a leading franchise website - agreed, claiming it has become more understandable than ever for unemployed people to take the calculated risk of starting their own franchise.
He said: "With a good range of low cost franchise opportunities on the market, starting a new franchise business is something that almost anyone can afford."
"This makes it a viable proposition for anyone who has found themselves out of work but is finding it difficult to find another job as employers still remain wary of increasing their workforce."
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