Franchisors are increasingly aiming to recruit the next generation of franchisees, and the much sought-after millennial generation is one which takes a great interest in helping their communities and changing the world for the better. In an ongoing attempt to attract this demographic to careers in franchising, it is likely that franchisors in 2018 will continue to maintain or increase their efforts to promote their franchises as socially responsible and ethical.
Continued growth and success
The UK franchise industry is undeniably a thriving one, with around 1000 franchised brands contributing around £15.1 billion to the economy and employing over 600,000 people. An all-time record of 97% of franchised units are profitable, and over half report an annual turnover of more than £250,000. The industry has grown by 10% in the last four years, and now provides 46% more to the UK economy than it did 10 years ago. It’s clear to see that franchising is a solid industry in the UK, and having grown every year since the economic downturn in 2008, it has also proven to be remarkably recession-proof – which is particularly reassuring in the midst economic uncertainty that events like Brexit have inspired. With statistics like these, it isn’t difficult to believe that 2018 will prove to be another year of success and development for franchisors and franchisees alike.