Franchising aims for £1bn goal

Scotland’s franchising sector remains on track to be worth £1 billion by 2020 with the industry said to be “booming” north of the Border.

The British Franchise Association (BFA) said that in the space of five years up to 2016, the combined annual turnover within the sector had risen by 14 per cent to an estimated £800 million.

According to the BFA Natwest survey some 43 per cent of all franchise systems operating across the UK are currently active in Scotland.

The prediction of a £1bn figure by the end of the decade was confirmed as the BFA unveiled plans for its annual Scottish franchise event, due to take place this year on 24-25 April.

A likely highlight will be the Scottish Business Breakfast that has previously attracted hundreds of delegates from both the franchise and broader business worlds. This will take place at The Grand Cen- tral Hotel in Glasgow on 25 April and feature keynote speaker, Glasgow-born entrepreneur and philanthropist Iain Macritchie.

Pip Wilkins, chief executive of the BFA, said: “The franchise sector in Scotland is thriving, with a mix of homegrown businesses as well as the big-name international brands.

“The sector creates thousands of new jobs every year. Many people dream of starting their own business but don’t know where to start.”