10:36 am, March 31, 2016
A SURVEY showing how valuable the booming franchising industry is to the British economy has been hailed by the organisation that represents commercial vehicle and franchised car retailers.
A report commissioned by the British Franchise Association in partnership with NatWest revealed that franchising pumped £15.1 billion into the domestic economy last year – a rise in turnover of 10.2 per cent since 2013, when the last survey took place.
Sue Robinson
Sue Robinson, director of the National Franchised Dealers Association, said: ‘We are pleased to see that the franchising industry’s turnover has grown by so much.
‘It is extremely encouraging to see that the franchised car and commercial vehicle dealers have made a great contribution to the franchising sector.
‘Franchised dealers account for over 10 per cent of franchised business outlets operating in the UK and are an important contribution to the sector.
‘As franchising is important to a range of industries, and not least the retail automotive sector, it is vital that the government acknowledges the benefits both for employment and revenue that the sector contributes to the UK economy.’
Brian Smart, director general of the BFA, said: ‘Good franchising continues to deliver serious dividends for Britain’s economy, creating businesses, jobs and wealth for local communities across the country. Established trends of strong profitability and very low failure rates over the last 20 years highlight the benefit of self-employment through franchising – a path that more and more individuals are taking.
‘The outstanding performance of the sector, in good economic times and bad, shows the power of the franchise model, and its impact on the UK’s business landscape increases each year.’
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