Find out more about one of the fastest growing retail sectors
Is there a demand for the products or service you’re intending to offer for sale? Not just for today, but in the future as well?
This is one of the first questions you’re advised to ask when looking to start a business or invest in a franchise. There is one retail sector that can certainly answer that question positively and it’s currently attracting a lot of interest from those wishing to invest in the future.
Ageing population
According to government statistics, there are 11.6 million people aged over 65 in the UK. By 2033 a staggering 23 per cent of the population will be aged over 65 and the number of older people (80-plus) is predicted to double by 2030 and reach eight million by 2050.
In addition to this, the prevalence of disability rises with age. 5.1 million people over state pension age are reported as having one form of disability or another.
The market for mobility aids and equipment is already one of the fastest growing retail sectors and is set to grow more over the next few years. So the market and demand for suitable products is undoubtedly there as the population ages.
Add to this the fact that the older generation are often in receipt of generous inflation proofed pensions, who also collectively hold mortgaged equity estimated to be worth £460 billion, and you can see how these potential customers have the ability to purchase products that could make their lives more comfortable.
Another question to ask is: how can I take advantage of this growing market? One option is to set up on your own from scratch, but that’s rarely as easy as it looks. Starting a new business is a great opportunity to get what you want from your working life, but it’s not without its risks.
One way of mitigating those risks is to join an established company by investing in a franchise. So your next question may well be to ask if there is anyone offering a retail franchise in mobility?
Business model
British Franchise Association member Ableworld, the country’s largest specialist mobility retailer, offers its business model as a franchise.
It sells products and services mainly to the older members of society - products that help with people’s mobility like scooters or rise and recline chairs. Ableworld offers its wide product range in supermarket-like stores, where you can buy anything to help with mobility and homecare - from a pill box to a stairlift.
You can enter this exciting growing market for less than you would expect and Ableworld offers a six-week training programme and ongoing support to ensure you go into business for yourself, but not by yourself.
Ableworld has ambitious plans for the future and is looking for ambitious people to join its growing franchise network.
