Scottish franchise sector to be worth £1billion by 2020

The Scottish franchising industry will be worth an estimated £1billion by 2020, according to the British Franchise Association (bfa), as it announces its plans for the annual Scottish Franchise Week.

Franchising is seeing excellent growth in Scotland, with the latest bfa/NatWest Franchising Survey showing that the implied annual turnover of the sector had reached £0.8billion, a 14 per cent increase compared with the previous survey. According to the report, 43 per cent of all franchise systems operating across the UK are currently active in Scotland.

This year’s Scottish Franchise Week, taking place on 24 and 25 April, will see the launch of Franchise Opportunities Scotland on 25 April at Grand Central Hotel, Glasgow. This unique networking event, organised in association with the bfa, will offer budding entrepreneurs the chance to discover an array of franchise brands.

Attendees will be able to meet with a wide range of bfa-accredited franchises to gain an in-depth understanding of the opportunities available in the industry. A series of expert-led presentations will explain what to consider when investing in a franchise, and advisers will also be on hand to offer free impartial advice. More information and free tickets are available now at www.ScottishFranchise.co.uk.

A highlight of the Scottish Franchise Week is the Scottish Business Breakfast that attracts hundreds of delegates from both the franchising and broader business worlds. This will feature keynote speaker Iain MacRitchie, a Glasgow-born serial entrepreneur and philanthropist. Pip Wilkins, chief executive of the bfa, says: “The franchise sector in Scotland is thriving, with a mix of home-grown businesses as well as the big-name international brands. The sector creates thousands of new jobs every year and is a major contributor to the Scottish economy.

“Many people dream of starting their own business but don’t know where to start. They may not have a business idea or don’t have the confidence to go it alone but burn with the ambition to be their own boss. Ethical franchisors offer the proven business idea and support infrastructure to make it possible to achieve their dreams.”

“Scotland has a superb and very proactive support network for franchising, including specialist lawyers, accountants, consultants and bankers, who are there to help franchisees and franchisors succeed. Many of these experts will be on hand at our free events and I would urge the public to tap into this wealth of advice and knowledge.

“Franchising in Scotland is on an upward trend and I believe the growth in the next few years will see the sector achieving £1billion or more in value.”