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Franchising Market Report 2010
Key Note Publications Ltd, Feb 2010, Pages: 109
This Market Report examines the UK franchising market, which has proved to be fairly resilient during the recession. Franchising covers almost every area of the economy, so, as well as being well represented in the UK, it is also fairly robust. Although the total value of the market was estimated to have fallen in 2009, both the number of franchisors and the number of franchised units continued to rise, which, given the depth of the recession, is considered extraordinary by some.
More than 20 new franchises were launched during 2009. The authors estimate that, allowing for some closures, the total number of franchisors in the UK rose by 2% in 2009. For historical reasons, the market is split into dairy and non-dairy franchises. In 2009, there were an estimated 35,015 non-dairy franchised units and around 2,000 dairy units.
The whole philosophy of franchising revolves around brands and their profiles. Some of the most famous business names in the UK operate as franchises, including: The Body Shop, Cartridge World, Domino's Pizzas, Dyno-Rod, KFC, McDonald's, Minster Cleaning, Molly Maid, Northwood, Prontaprint, Snappy Snaps, Subway and Thorntons.
The turnover of the franchising industry was estimated to have decreased by 7% in 2009, to £10.6bn, which resulted in a decline in profitability. Although many franchisors and franchisees have remained in business during the recession, they have seen their profit margins decline.
The investment required in a franchise varies considerably, from as little as £5,000 to more than £250,000. However, many franchises seem to require an investment of around £15,000 to £20,000.
The profile of franchisees is changing; for example, the numbers of women and Asians taking up franchises in the UK is increasing. This trend is also reflected in the nature of some of the newer franchises, such as those based around ethnic and oriental foods. Another feature of the industry is the growing trend among UK franchisors to set up overseas.
The authors forecast a marginal increase in franchising turnover for 2010, with the number of franchised units and also the number of franchised systems continuing to grow ahead of turnover.
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