Franchising represents around 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%!Franchise Direct's commentary on Brexit's effects on franchising as a sector confirms that franchising holds strong (and even grows) in times of economic uncertainty. Only time will tell if franchising will grow in the UK after Brexit. But getting the message about franchising out there will be key to this. Franchise brands need to get their PR machines revving!
As a sector which now contributes over £15 billion to the UK economy, its flourishing is a testament to the success of the many franchisors and franchisees who participate in its effective structure. While it is difficult to predict the long-term effects of Brexit, it seems that the best or worst case scenarios will hardly spell disaster for UK franchising, as the figures have shown it sustaining itself as a robust industry during phases of economic inconstancy. All indicators appear to show that business owners and investors alike should continue to remain confident in the franchising model - a system which, let's not forget, has endured for over half a century.