A CELEBRATION of one of the country’s most successful business sectors takes place next week (May 16-20) with the start of Scottish Franchise Week
Begins a spokesperson: “Franchising contributes about £800 million a year to the Scottish economy and is responsible for creating an estimated 30,000 jobs.
“The highly successful business model plays a major part in the country’s fortunes with almost 500 different franchise brands operating in Scotland today, accounting for approximately 2,000 individual franchisee businesses.
“Despite the economic challenges of recent times franchising has shown itself to be a robust and highly adaptable model for growth. It provides many businesses with the ability to implement expansion plans at a reduced risk while at the same time offering a chance for franchisees to buy into a tried and tested model for success.
“Figures show that while many industry sectors suffered during the recession around 90 per cent of franchisees reported a profit, including 80 per cent of those in their first two years of operation.
Says Tom Endean, for the British Franchising Association: “Franchising is a real growth industry and the number of brands and franchises has continued to grow steadily over the years.
“Part of this is a result of the robust nature of the franchising model. The ability to operate as a local business with understanding and commitment to the area and people, combined with the national support systems and brand, has allowed many franchises to remain viable, secure and successful businesses even in tough times.”
Scottish Franchise Week, sponsored by Lloyds TSB Commercial and whichfranchise.com, aims to raise the profile of franchising in Scotland as a tried and tested way to start a business, create jobs and build sustainable wealth for the national economy.
One of the highlights of the week will be the Scottish Business Breakfast, which will be held at the Hilton Glasgow on Wednesday 18th May.
The event is expected to attract more than 300 representatives of some of the country’s top franchisors, franchisees, suppliers and affiliated companies as it offers an ideal networking opportunity to discover more about the importance, impact and resilience of franchising.
Franchising now accounts for more than 467,000 jobs across the UK and an annual UK turnover in excess of £11.8 billion.
Adds Richard Holden, Hhead of Franchising for Lloyds Banking Group: “We have been supporting franchising in Scotland for many years and so we are delighted to be involved in this important week. Time and again we are impressed by the outstanding stories of success and professionalism that we see in the industry today and we greatly look forward to welcoming many more over the coming years.”
For more information or to book a place at the Scottish Business 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 to Editors:
For more information on franchising please visit www.thebfa.org or contact Peppercorn PR on 0845 217 8757 for case studies and photographs, or to arrange interviews with members of the bfa and Scottish Franchise Forum.
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.
MEDIA RELEASE posted by Peppercorn PR. You too can post media releases (aka press releases) on allmediascotland.com. For more information, email here.