Clock This For A Route To Success In Business

Glasgow Evening Times:

The franchise market in Scotland created 4500 new jobs last year.

New figures show there are almost 3000 franchised firms across the country and that in 2007 the market grew by 7.1% – almost 3 times faster than the Scottish economy.

Scottish franchisees also claimed average turnover of £384,600 last year, £24,600 more than the UK average, in statistics released as Scottish Franchise Week begins in Glasgow today.

And organisers claim that buying a franchise rather than attempting to set up on your own is the more sensible option to self-employment.

Bill Hendrie of the Franchise Group for Scotland said: ‘We feel franchising is a more favourable way to start a business when you consider it has a much lower business failure rate than the general average.

‘The research shows that franchising is still buoyant and the system model is a less risky way of starting and running a business than going out on your own.

‘Only 14% of franchisees questioned in the study thought general economic conditions would improve over the next year and 68% said they believe conditions will worsen.

‘However, in terms of expectations for their own businesses, 50% were optimistic conditions would improve over the next 12 months.’

Franchising is where a person buys a licence to sell a product or service using the trademark of another business. Most McDonald’s or Thornton’s outlets are run in this way. Read on.