To achieve this goal, the British Franchise Association (bfa) will be hosting Scottish Franchise Week 2019 in September
The 2018 bfa NatWest Franchise report stated that the UK franchise industry was worth £17.2 billion to the British economy per annum, up over £2 billion since 2015. UK franchising also employs some 710,000 people with just over 50 per cent in full-time employment.
While the rest of the UK has shown significant growth, Scotland has stayed on par, which means that now is the time to scale up or introduce franchising operations in the country to reap maximum rewards.
With the annual implied turnover in Scotland sitting at £800 million, the bfa’s mission is to propel the industry past the billion mark by 2021.
The bfa will thus host the Scottish Franchise Week 2019 on the 11th and 12th of September. The events will highlight the benefits of franchising in Scotland, including a social evening on 11th September, and then the much anticipated business breakfast followed by the SFW exhibition on 12th September at the Radisson Blu in Glasgow.
Pip Wilkins, CEO of the bfa, said: “When our 2018 survey showed that the franchising industry has remained consistent in Scotland, I was particularly determined to ensure that we get the region to a new record and into the billions as soon as possible.
“There are so many opportunities in Scotland for a diverse range of franchising systems to thrive, and Scottish Franchise Week will prove this to people both within the industry, and those who may be considering franchising as their future.”
She continued: “Franchisees across the UK are reporting 93 per cent profitability and six in 10 franchised units turn over more than £250,000, and I think this proves that the franchise model if followed properly, leads to successful, sustainable and profitable businesses. We need to get this message out across Scotland and shout about the huge success stories.”