How to join the franchise boom
Publication: The Guardian
Franchises are reporting record success in the UK. In 2015, the industry’s annual turnover was over £15bn, and it now employs over 600,000 people, according to a recent survey by the British Franchise Association.
The unique business model dominates the high street, KFC, McDonald’s, Costa Coffee, Subway and Starbucks all run on this model. Indeed, franchises account for 70% of McDonald’s restaurants nationwide.
Despite these successful examples, the fallout from some franchises has been well publicised. In 2011, American restaurant company Papa Johns took action to recover funds from their franchisee Elsada Doyley after she abandoned the business. Doyley successfully won a counter claim when the chain’s own figures on achievable turnover were found to be inaccurate.
But research suggest…
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