Recruiting Franchisees in a Competitive...
The UK franchise industry continues to experience growth in spite of economic uncertainties across the board. In fact,...
The UK retail franchise market is one of the largest franchise markets in the UK right now. After having recovered from the recession in previous years, this market is booming and now is the time to invest in this sector. There are over 192,000 registered retailers in the UK and in terms of the number of retail franchises available amongst this and their market performance, you are sure to get a great ROI sooner rather than later. Here, we answer some of your questions about the UK retail franchise sector so keep reading if you’d like to find out more about investing.
The UK retail industry employs around 2.9 million people and this figure is set to grow to over 3 million in the next few years. Within the retail industry, there are many franchises and a wide variety of different types of franchise for you to choose to invest in.
Retail franchise opportunities come in all shapes and sizes and will offer products and services to many different markets. As an aspiring franchisee, you will need to find out which one will suit you and bring you the best ROI. Just some of the types of retail franchise opportunities that exist in the UK market include franchises like:
* Food Retail Franchises
* Online Retail Franchises
* Digital Product Retail Franchises
* Coffee Retail Franchises
* Automobile Parts Retail Franchises
* Furniture Retail Franchises
As you can see from the list above, retail franchise opportunities can be in many markets, meaning you can find one that fits your own personal strengths and interests. It is likely that you already use some of the many UK retail franchises that fill your high street every day.
In the past few years, the UK retail sector has been recording sales of over £300 billion, making it one of the top performing sectors within the UK. This figure actually accounts for 5% of the UK’s GDP which is huge considering the number of things contributing to that. When it comes to what consumers spend their money on, figures show that one-third goes towards the retail sector.
Even though the UK retail market is strong, they are certain areas that are outperforming others. In the UK, non-food stores are leading the way in the retail industry with the highest volume and value growth.
Another area which is experiencing excellent growth is the online retail market, with online retail sales year-on-year growth of 19.2% in 2017. Interestingly, online retail sales actually take up 12% of the total share of retail sales right now so this is definitely something to consider.
To see more information on the state of the UK retail franchise industry, you can read – Retail Franchises: Retail Industry Performance UK for 2018.
With such a large industry that operates in many UK markets, it will be no surprise that the requirements for retail franchise opportunities are very diverse. In terms of minimum investment cost, the typical range for a retail franchise is around £20,000 - £50,000. The skills and traits required to be successful in this industry are focused on delivering great customer service and being a hard worker. Before you invest, you’ll want to find a retail franchise that is right for you as there are so many different types for you to choose from.
If you enjoy working in an industry that focuses on delivering great customer service and you want to run your own business, then maybe you should consider investing in a retail franchise opportunity. Please follow the link below to see our current retail franchise opportunities we have available in the UK if you’d like to get started today.