You may be wondering. What is the most profitable franchise industry in the UK in 2020? Since January is the most popular quarter for franchising in the UK. Because we all hear things such as “New year new job” So running a franchise in 2020 is a great way to show your true potential at running your own business. We all know the pro’s of running a franchise such as becoming your own boss, making a better annual income if run correctly. But this leaves people asking which is the largest / most profitable franchise sector in the UK. So today we will be covering the top five most profitable franchises.
1.) The Coffee Shop Franchise Industry.
Did you know? In just 2018 just over 9.4 million people visited a starbucks in the UK alone. Also did you know this was just slightly more than half of the visitors that visited a costa coffee shop in 2018. This stat shows the coffee industry is very popular in the UK. Also if those stats were just in 2018 think what is achievable in 2020 almost 2 years later.
2.) Health & Fitness Franchises.
Did you know? The health & fitness industry was declared the 3rd largest industry in the UK economy. Also did you know there are just over 44,000 Health & fitness clubs in the UK alone. All contributing to just over £5 billion to the UK economy every year.
3.) Pet Franchises.
Did you know? 26% of the whole UK population own a dog. Which is roughly just over 17 million people who own a dog this shows a high demand in the UK for pet services. What does this mean for a profitable business model? This means you have a massive and ever expanding audience of new people who require your services daily. This shows 2020 is the perfect time to run a successful pet franchise in the UK.
4.) Fast Food Franchises.
We all know the success stories of the McDonalds franchise which we all know is one of the most successful franchise models in the world and definitely one of the most popular. But did you know how big the market is in the UK for fast food profit? Did you know McDonalds in the UK alone serves more than 3.8 million people a day. I know its rare a franchise will grow as big as McDonalds but these stats do show how high the demand is in the UK. These stats make fast food franchises the 1st most profitable franchise in the UK.
5.) Care Franchises.
Care franchises are truly thriving in the UK everyday. Care is a good business but also its very demanding. Since when you are looking after people you cannot just see care as a money making opportunity. You have to be passionate about helping people in need. Care franchises are really popular not just in the UK they are popular worldwide. Did you know back in 2018 there was a survey in Canada and over 20% of people filling out the survey said they would be interested in the care industry. Also did you know in 2023 the care industry is forecast to reach just over $38 million in dollars in the UK alone. This shows a massive market for care in the UK.
Sources : Franchise Association + Statista