Over the past twelve months, more franchise businesses have been sold in the UK than ever before. This has led many people to ask the question, “why are they so popular”. Well, there’s a few reasons for this, and they’ll all get a mention in this short article. You see; starting a company from scratch with no professional help is one of the most dangerous ways of trying to create a stable form of income. It’s much more sensible to jump into the market alongside an established brand, which is the first reason why people are so fond of this kind of opportunity.
When we’re talking about profitability, UK franchises that specialise in business coaching are doing incredibly well at the moment, mainly thanks to the governments slashing of business rates until next year. In fact, we got in touch with representatives from a small town in Staffordshire that has only around 40,000 residents, and they told us that over 1000 new firms had been started within the borders of their constituency in the last 3 months – this seems to be fairly common as we look across other areas.
Anyway, here’s why franchises have been so popular of late…
1 – Professional Ongoing Support
When you buy into a franchise you get a lot more than their name above your door; you get lots of free support that’s designed to ensure you succeed no matter what. This means you don’t actually need any experience in that particular industry most of the time, which lets people with less than impressive CV’s start on an even playing field. This support could be in the form of regular visits, emails or even telephone calls, but people all over the country are finding this to be an indispensable benefit of purchasing franchises rather than starting up on their own.
2 – Recognisable Branding
Let’s face it, people are much more likely to walk into a Subway sandwich bar than they are to try the independent store next door, regardless of the quality of food. Don’t get us wrong, we’re not saying those independent places can’t make a profit, just that they can’t possibly compete or achieve the same high level of sales you get from owning a known brand.
3 – A Proven History Of Success
When people buy a franchise, they’re able to meet others who’ve done the same thing and find out about how they made it profitable. Again, as you’re all working together, there shouldn’t be too much opposition to sharing information like this, which means you benefit from the experience and expertise of the franchise sellers and other people who’ve also identified a lucrative opportunity.
4 – Workable Marketing Strategies
No matter what kind of business people choose to buy, the owners will have standard marketing strategies they know for certain work and help buyers obtain customers. This is vitally important because advertising is one area that often requires a trial and error approach, which can be rather costly. New franchise owners generally avoid this kind of uncertainty.
So, will these lucrative opportunities continue to be as popular in the new year? That remains to be seen, but one this is absolutely certain; if you’re looking for a safe and reliable business model, franchises are definitely the way forward.