Even franchisees or franchisors from wildly different industries have a lot in common and as the industry grows cooperation will be key
When two runners stopped mid-race to help each other after falling over in the women’s 5,000m heat in Rio last month, they were rightly praised for embodying the Olympic spirit. There’s nothing better than witnessing people helping each other and, given the scale of Britain’s franchise industry, it makes sense that we adopt this thinking.
Over 900 franchise brands operate in the UK today and the total number of people employed in the industry currently sits at 621,000, according to the latest figures from the bfa. Even more impressive is that franchising’s contribution to the UK economy is estimated to be in excess of £15bn. And there is a very important message behind these figures: both franchisees and franchisors alike have a huge opportunity to band together and collaborate.
We often talk about the sense of camaraderie that exists between franchise owners within a business. But if we look at the bigger picture, there’s a natural affinity between everyone involved in this dynamic industry. At etyres, we’ve developed excellent working relationships with fellow franchise businesses such as Snap-on Tools and Pirtek over the years. Many of our franchise owners also use Moreland Insurance Brokers, an affiliate member of the bfa, to secure the most competitive rates for their business.
As a long-time member of the bfa and chair of its London and South East regional forum, I regularly see first-hand how franchisors gravitate towards fellow members they can do business with. We’re all keen to develop and share best practice and leads with each other. But the most powerful shared aim is a desire for success, whether as a franchise owner or franchisor. Just as like-minded people join the same clubs and associations, franchising attracts ambitious and aspirational people. Whether they’re running a fast-food restaurant or a pet-grooming business, the determination to succeed and do well is a common bond.
If we make aspiring to help others with a shared common goal part of our everyday business practice, we should all be able to enjoy the benefits. Just as franchisors invest heavily in training and communicating with franchisees, extending that spirit of learning and development to other franchises – even competitors – could pay dividends for the industry as a whole.
Britain’s franchise industry is not just surviving – it’s thriving. And by joining forces, we can ensure we continue riding this wave of success together.