UEA report reveals franchise sector growth
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With more than 250,000 people actively looking into owning their own franchise business and more than 1,500 franchise brands expanding nationwide, the franchise opportunities available in the UK are vast. Norwich-based Franchise Development Services (FDS) has published the first comprehensive report reviewing all aspects of the UK franchise industry.
The report, Insight: An industry review of Franchising in the UK 2010, was produced by MBA students from the Norwich Business School at the University of East Anglia (UEA). It analyses historic, present and future trends in the UK franchise market incorporating the views of franchisors, franchise owners and banks with specialist franchise finance departments.
MBA Programme Director at the Norwich Business School, Terry Kendrick said: "FDS and our team of four MBA students have produced an interesting report in a key business area. Together they have provided an insightful introductory overview for those looking at this market place - a great example of experienced university students working with business."
Managing Director of FDS, Roy Seaman said: "The franchise industry's good health is evident in the East of England with Norwich, 'Franchise City' at its heart - home to more than 100 retail franchise brands within the city walls. So far this year 10 new franchisors have entered the market in the East of England, providing increasing opportunities for people to own their own business. In addition, with our help, 75 new franchise businesses have launched in the region.
"The major banks with franchise departments are actively loaning money to the franchise sector," added Seaman. "People who have been made redundant or have simply lost their job are exploring franchising as a proven business format for their skills, energies and ambitions."