Brexit - Covid 19 & Franchising

Franchising represents over 1% of the UK's GDP and is not far off the EU which is just under 2%. But could our exit from the EU give us the scope to increase this? In the US franchising represents 6% of GDP whilst in Australia it represents a massive 11%.

Generally franchising as a sector holds strong, and even grows, in times of economic uncertainty, such as now. Only time will tell if franchising will grow in the UK after Brexit & COVID 19 and getting the message about franchising out there will be key to this. Franchise brands need to keep their PR machines moving fast.

As a sector which now contributes over ￡17 billion to the UK economy, its growth is a testament to the success of the many franchisors and franchisees who operate in its effective structure. While it is difficult to predict the long-term effects of Brexit & COVID 19 it seems that the worst-case scenarios will hardly spell disaster for UK franchising.

As the figures have shown it always sustains itself as a robust industry during phases of economic downturn, inconsistency and recession. All the indicators appear to show that business owners and investors alike should continue to remain confident in the franchising model - a system which has now endured for over half a century.