Best franchises to own in the UK
Every year the franchise industry in the UK seems to become stronger and stronger. More and more entrepreneurs are investing in franchises and increasing numbers of consumers are recognising the value and the quality that franchised brands offer. To give investors an idea of the sectors and the businesses that have done particularly well in the past twelve months, we’ve reviewed some of the best franchise options of 2017.
Food and drink franchises
In the UK, as in many places around the world, food and drink franchises have proved very popular in the last 12 months. In 2017, the UK restaurant industry alone was expected to reach a value of more than £20bn, a 4% increase on the year before. A lot of this money is being spent in food and drink franchises, which account for a growing proportion of the country’s bars, pubs, restaurants and takeaways.
Much of the growth we’ve seen in 2017 has come from the convenience food and drink sector. Many people no longer have time to go out for a sit-down meal at lunch time or even run to the nearest coffee shop, so brands that come to them or that make food quick and easy are currently doing very well.
One such brand is Cafe2U. The worlds’ largest mobile coffee franchise system, Cafe2U delivers fresh, tasty coffee and delicious food to businesses, events and functions. The brand currently has over 90 franchises in the UK and is planning on expanding further in the coming years.
As well as convenience foods, Brits are also spending more on healthy foods. Alternatives to sugary and fatty meals are becoming increasingly popular with consumers of all ages as more and more people look for ways to trim down their waistline and up their nutritional intake. A brand that reflects this move towards healthier eating habits is Tutti Frutti Frozen Yoghurt. Offering delicious frozen yoghurt snacks at affordable prices, the brand is building a profile across the UK.
Although it’s not healthy or convenient, American-style food remains incredibly popular in Britain. The Texas Steakhouse franchise specialises in offering Brits an authentic taste of the southern US and is currently working to open franchises across the country. Offering a comprehensive franchise package and a great company concept, the brand is set to take the UK restaurant scene by its horns.
Health and home services franchises
Every year the UK’s population gets a little bit older. In 2017, 18% of Brits were aged over 65 and this percentage is only set to go up as improved medical care and an increasingly healthy population continue to push the country’s life expectancy. As a result, more and more people are going to be in need of home health services in the coming years. Whether it’s specific help with medical conditions or just an extra pair of hands around the house, the UK’s older people are going to need increasing amounts of support as they age.
To fill the gap, franchises are springing up across the country offering a range of home help services. Businesses like Extra Help and Promedica24 offer those in need high-quality, reliable helpers that travel direct to clients’ homes.
Business Advisory and Coaching franchises
The number of franchises specialising in business services has really exploded in the last few years and 2017 saw these types of businesses increase their market share even further. Franchises working in this area offer a large number of services that are invaluable to modern businesses, including web design, financial services, business coaching and technical support. As increasing numbers of companies look to outsource services and make their core team more streamlined, these franchises are really coming into their own.
Some of the names that have shown good growth in these areas in 2017 are ActionCoach (business coaching), BBX UK (financial services), Commercial Financial Network (financial services), Platinum Business Partners and Tax Assist Accountants. Entrepreneurs looking to enter the world of business could well find that investing in a franchise that supports large companies, start ups and other organisations is a great way to get involved in the sector.
Automotive repairs franchises
Every year the number of cars on the UK’s roads goes up. Between 2014 and 2015 alone the number of vehicles rose by 600,000, up from 25.2 million to 25.8 in just twelve months. Although this may not be great news for the environment, it’s fantastic for franchises involved in the automotive business industry. Many businesses offering convenient and affordable repairs have found that their sales have continued to grow steadily throughout the year, making 2017 a fantastic few months for auto franchises.
Those looking to invest in the area should look out for companies like Revive! This innovative brand works in the rapidly growing auto repair industry, fixing everything from body damage and bumper scuffs to bonnet chips and alloy wheel refurbishments. Revive! offers franchisees a recognisable brand, a large exclusive territory and on-going support from the central sales team.
A similar franchise is ChipsAway, which also works to repair damage done to cars. The difference with this company is that they’re mobile, meaning their skilled technicians go straight to the customers that need their help.
Property continues to be a very profitable area for entrepreneurs in the UK. In the past decade, the value of the UK’s property stock has gone up by one third, bringing the total to £7.14 trillion. As a result of this strong growth, property franchises continued to perform well in 2017. Estate agents in particular had a good year, with sales continuing strongly despite uncertainty over Brexit.
Many of the property franchises currently available are estate agents. Franchisees benefit from working under a recognisable name, which gives them an instant reputation in their local area and so helps to attract new customers. Some of the most promising names in the property industry in 2017 have been Best Property Partners, The Estate Agency Franchise Group and, for those who want to take advantage of the worldwide property market, International Property Brokers.
Pet related franchises
If there’s one thing that pretty much all Brits love, it’s animals. Every year, spending on pets goes up in the UK. In 2005, we spent around £2.5 billion on animals. By 2016, that figure had skyrocketed to £4.6 billion. This demonstrates just how much money there is to be made from offering services for pets and shows why so many people are investing in the industry.
Pet owners are increasingly happy to spend serious money on keeping their animals healthy and many will pay more for high-quality food and pet care if they think it’s going to be good for their much-loved animal. Both Trophy Pet Foods and Oscar Pet Foods offer high-quality treats and meals for the country’s pampered pets. Growing rapidly, both of these franchises offer an excellent opportunity for investors looking to get into the pet industry.
With so many opportunities to invest in fast-growing industries, it’s easy to see why 2017 was a great year for franchising. With the UK economy continuing to grow, the coming twelve months could be even better for those involved in the sector.
Source: Franchise UK