SOME of Scotland’s most experienced and successful business people will this week (Wednesday) get a lesson in franchising from a group of teenagers.
Says a spokesperson: “Students from Holyrood Secondary School in Glasgow, are due to present their findings on the state of Scotland’s booming franchising industry and the opportunities it presents to the next generation of entrepreneurs when they take centre stage at the Scottish Business Breakfast.
“The event, which will be held at the Hilton Glasgow on Wednesday 18th May, is one of the highlights of Scottish Franchise Week, sponsored by Lloyds TSB and whichfranchise.com.
“The group of 14 year-olds have spent the last six months working with classmates researching how franchising works as part of their Standard Grade Business Studies course and they have been invited to present their experiences of the industry to more than 300 of the country’s leading franchisors, franchisees, suppliers and affiliated companies.”
Begins Tom Endean, for the British Franchising Association, which organises the annual event: “It might be hair-raising for them to speak in front of so many people but it will be extremely rewarding.
“This year we wanted to do something a bit different and, in addition to key note speakers from the various ends of the franchise spectrum, we thought it would be a good idea to hear from the businesses people of the future.
“They will talk about what they’ve learned about franchising, what makes it attractive to them and whether they would consider the franchise sector as a good career prospect for the future.
“It’s about engaging with local schools and getting franchising into their psyche as a business model.
“A lot of people don’t realise they are surrounded by different kinds of franchises everyday and don’t understand the fantastic opportunities that are available.”
Continues the spokesperson: “Despite the recent recession franchising has proved to be a robust and highly adaptable model. Figures show that while many industry sectors suffered during the economic slowdown around 90 per cent of franchisees reported a profit, including 80 per cent of those in their first two years of operation.
“There are almost 500 different franchise brands operating in Scotland today, accounting for well over 2,000 individual franchisee businesses. The sector contributes around £800 million a year to the Scottish economy and is responsible for creating about 30,000 jobs.”
Adds Geraldine McLaughlin, principal teacher of Business Education and Enterprise at Holyrood Secondary, which is believed to be Europe’s largest school, with a roll of over 2,000 pupils and 150 teachers: “Franchising is part of the Standard Grade Business Management Course which takes in the main types of businesses that can be operated.
“We had a group of third-year students spend time looking into franchising as a possible business option for them when they leave school or finish higher education.
“They looked at franchising within the local area, what kinds of opportunities were available and interviewed five different franchise owners about how they got started. They learned a lot about what it takes to run a franchise. It’s been very beneficial. Some of them are now quite possibly budding business owners of the future.
“With the current economic climate franchising is possibly a better option for many of them. Instead of starting something up as a sole trader or partnership they now know they could have a business with the backing of a franchise to provide all the support needed to make it a success.”
For more information or to book a place at the Scottish Franchise Breakfast at the Hilton Glasgow Hotel on Wednesday 18th May 2011 please visit www.thebfa.org or contact Peppercorn PR on 0845 217 8757.
Tables of ten are priced at £200 + VAT each. Individual tickets are also available at £20 + VAT per person.
Notes for editors:
For more information, case studies and photographs or to arrange interviews with members of the bfa and Scottish Franchise Forum please contact Peppercorn PR on 0845 217 8757.
About The British Franchise Association (bfa):
The bfa is the voluntary self regulating governing body for franchising formed in 1977 by the major franchising organisations looking to accredit and promote those franchise systems that meet the strict ethical and business criteria of a good franchise.
The term, ‘franchising’, has been used to describe many different forms of business relationships, including licensing, distributor and agency arrangements. The more popular use of the term has arisen from the development of what is called ‘business format franchising’.
Business format franchising is the granting of a license by one person (the franchisor) to another (the franchisee), which entitles the franchisee to trade under the trade mark/trade name of the franchisor and to make use of an entire package, comprising all the elements necessary to establish a previously untrained person in the business and to run it with continual assistance on a predetermined basis.
The bfa hold a full list of all of its members and the code of ethics to which these members subscribe to on its website: www.thebfa.org.
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