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The franchise industry’s contribution to the UK gross domestic product (GDP) is around £17.2 billion per year. It employs 710,000 people. What’s more, 93% of franchisees claim profitability. And perhaps more astounding: less than 1% of franchisors close per year due to commercial failure. This makes franchising an attractive and lucrative business path to pursue. But where should you start? Keep reading to find out more about some of the leading franchise industries to invest in within the UK.
Personal service franchises include those in home care, health care, fitness and beauty-related services. Although these are quite broad and varied, this umbrella term covers them all. Having doubled in number over the last couple of years, it doesn’t matter whether you’d like to offer home care to citizens in need or you’d like your customers to feel pampered. These opportunities are on an upward trajectory, leading to quite a healthy outlook for their success in the future.
If excellent customer service and satisfaction are major drivers for you and you like the fast paced industry, quick-service restaurant (QSR) franchises could be just the opportunity you’re looking for. With so many options out there, you’ll be spoilt for choice. And this opportunity offers more than you can imagine. Employing 223,000 people, revenue in this industry is estimated at around £12.3 billion, making up a major chunk of the overall franchise industry’s contribution to the UK’s GDP.
If you are more hands-on and have certain skills such as attention to detail, a passion for solving problems and keeping customers happy, a residential service franchise might be the right option for you. These franchise types often revolve around handymen, plumbing, appliance repairs, cleaning, gardening, pest control and more. They often don’t require prior experience in the industry and they can be priced affordably, meaning low barriers to market entry and a great support system to guide you.
The real estate industry is perhaps the most worthwhile to watch. Industry data indicates that it employed 545,000 people and generated turnover of over £65 billion British pounds in 2022 alone. It is considered one of the country’s largest industries, and with a property franchise, you can truly make your entrepreneurial dreams come true in a highly lucrative and profitable sector.
