Peter Luff, MP Chair of Trade and Industry Select Committee, says: ‘Franchising is an excellent opportunity for individuals to embark on an exciting entrepreneurial journey – enabling them to take the step to building their own business, in turn creating jobs and boosting the UK economy. Those partnering a franchise system have more than a 90% survival rate in their first year, compared to an 80% failure rate for non-franchisee business start-ups. Myhome International plc is one of the fastest growing franchise operations in the UK, and I would like to congratulate them today on hitting the milestone of partnering their 300th franchisee.’
Figures from the bfa/NatWest 2006 UK Franchise Survey show just how important franchising is to the British economy, estimating that franchised systems generates an annual turnover of £10.3 billion. Myhome International plc has made a substantial contribution to these figures, creating 300 businesses and over 1,000 full time jobs to date. The company has outlined a strategy for further growth into 2007.
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