Those looking to partner with a suitable franchise business have never had a bigger selection of opportunities to choose from. Real estate, gyms, fast food outlets, tutoring and even cleaning services are just some that offer opportunities that are being up by aspiring franchisees across the UK. And the list of folks who make up franchisees are equally diverse. Retirees, women and young people are joining the ranks of modern franchises that are changing the landscape of this increasingly dynamic sector.
Here’s a look at what the statistics say about the UK’s franchising sector:
- The sector contributes a whopping £17 billion to the country’s economy each year and has grown at a rate of nearly 50% over the last decade.
- The industry currently employs over 700 000 people thanks to steady growth of over 70% over the last decade.
- There are more than 50 000 franchised units with over half of franchises declaring an average annual turnover of over £250 000.
- On average, franchises employ ten or more staff members and have one of the lowest failure rates (4.6%) than other startup models (50%).
- Over 90% of franchisees are happy with their franchisor and almost a third have multiple units of the same franchise.
- The future of franchising appears bright thanks to an increase in younger franchisees entering the sector.
- Over 60% of people employed by franchises are female and over 30% of franchises are female owned.
- Of all new franchisees in the last two years under the age of 30, more than half were female.
- Nearly 30% of UK-based franchisees plan to expand their businesses to overseas markets in the future.
- Almost half of UK franchises can be operated from home thanks to improved internet connectivity, the rise of Web 3.0 and an expanding app universe.
Rise in demand for tutoring in the UK creates opportunities
A steady increase in demand for affordable tutoring services is creating opportunities for those with a passion for education to start their own businesses. The UK’s tutoring industry to date is said to be worth around £6 billion and is expected to continue growing over the coming years. This has led to many established tutoring businesses opening their doors to franchisees to help grow their business in the process.
Attainment gaps between rich and poor pupils are continuously shrinking as standards in education increase across public and private schools. This means parents are looking to give their children the best education possible to help them compete in a fast moving world. After school tutoring services are thus ideally positioned to capitalise on the demand for tutoring, and by extension, franchisees that join an already successful brand in this bustling sector.
Ready to join the UK’s favourite tutoring franchise?
Boost Education is a trusted name in education with a complement of tutors, staff and centres that makes us the go-to after school tuition service for thousands of British students. If you’re as passionate about education as we are, and are ready to be your own boss, then talk to us about becoming our newest franchise owner.
Our business model is proven through the multiple centres that cater to various students, each with unique educational needs. Get in touch or come and talk to us at your nearest Boost Education centre. We’re always happy to meet prospective franchisees and show them around our busy establishments.