Seeking to open up the possibility of franchising to the unaware and educate a wider audience, the British Franchise Association recently supported a number of franchising events.
The latest research from the BFA highlights that out of the 32% of people polled who wanted to start their own business, 14% are trying to escape the 9 to 5 routine, 12% want to spend more time with their family, 21% would like to improve their lifestyle, and 55% want to be their own boss. It seemed apt therefore that the theme for National Franchise Week 2006, which took place between 2nd-8th October, was ‘Escape the 9 to 5′.
‘Our research showed that while there is a desire for business start-up, many people are concerned about the risk of business failure and worried about accessing finance,’ says Dan Archer, Head of Marketing at the bfa.
‘This is where franchising plays a vital role in boosting the confidence of start-ups, as the nature of franchising is such that the risk of failure is significantly reduced as prospective franchisees operate a tried and tested system. The success rates associated with franchising can also lead to banks lending up to 70 per cent of the total capital requirements.’ Full article.
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