The results are out - The BFA and NIC Services Group reveals the results of the 2024 National Franchise Survey

The BFA (British Franchise Association) and sponsors NIC Services Group have released the results of the first national franchise survey. 

Founded in 1977 and with a strapline of ‘Discover Your Tomorrow’, the BFA is the hub of franchising in the UK. The association strives to brighten people’s futures, by showcasing the opportunities for businesses and individuals to transform their lives through franchising, whilst also providing an educational space and accreditations, governed by high standards and a code of ethics.

For the first time the survey results will be housed in a new British Franchise Journal, celebrating the results and including comment from prominent British franchise organisations, The Journal is available via the BFA website. https://www.thebfa.org/the-british-franchise-journal/

In this independent survey, the 32nd to be conducted by the BFA, franchisor and franchisee members of the BFA completed an online survey, with further interviews with directors and managers of franchises and franchisees, to give a fully comprehensive result.

Topline results

The results of the survey show that:

• The franchise sector contributes £19.1 billion to the UK economy with an average turnover per franchise unit of £400,000.
• Franchisors are optimistic about the outlook for the future of the sector with 87% expecting improvement in their company’s conditions and 53% expecting better general economic conditions.
• In 2024 there are 1,009 franchise systems (an 8% increase since 2018) with 50,421 franchise units (an increase of 4% increase since 2018.)
• Significant growth has been seen in both the personal services and the hotel and catering sectors, up 53% and 34% respectively since the last survey. Conversely transport/ vehicle services and store retailing have noted declines of 34% and 25%.
• Despite the huge impact of COVID-19, 89% of franchise units are profitable, with 66% of franchisors reporting better trading than pre-pandemic. There has been a significant shift in work locations since the pandemic, with 50% of franchisees operating form home.
• Franchisees remain largely happy with 82% satisfied with their franchisors and 60% feeling their franchisor has met their expectations.

John Spencer, Chairman of NIC Services Group who sponsored the survey, and the British Franchise Journal said: “As the former Chairman of the BFA and with over 25 years’ experience in the franchising sector, I am delighted to be sponsoring the British Franchise Journal which includes the results of the first national franchise survey since 2018.  The results highlight the fact that franchising continues to thrive, adapting as it does so well in times of economic adversity. The survey and journal provide a comprehensive overview of the UK franchise sector, and we hope it makes interesting reading for those both in and outside of the sector.”

Pip Wilkins, Chief Executive of the BFA (British Franchise Association) concurred: “The results of the survey make for gratifying reading. Since our last survey in 2018, the UK’s economy has weathered some of the toughest of storms and, like many UK businesses, we have seen our fair share of losses, however as the survey demonstrates, we are bouncing back, with 65% of franchisors reporting better trading than pre-pandemic and 87% of franchisors are actively expecting an improvement in their company’s conditions. I would like to thank John and NIC Services Group for their generous sponsorship of this survey and the British Franchise Journal and their valuable ongoing support of the sector.”

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