Gosport MP Caroline Dinenage hosted the first ever franchise event in Parliament on Monday to introduce MPs to leading franchisors.
The unprecedented event, which was co-hosted with the British Franchise Association, brought together almost 30 MPs and franchisors from their constituencies. Kelly Chambers of the Gosport-based Dream Doors franchise spoke to Caroline about the importance of franchising and the opportunities for expansion in this important industry. The Gosport business was started 12 years ago and now boasts 35 franchised stores nationwide.
Speaking after the event, Caroline said:
“I was delighted to host this event to highlight the economic importance of franchising to so many MPs. Dreams Doors, which is based in Gosport, is just one of many hugely successful franchises bringing jobs and growth to our economy. With significantly better success rates than other businesses, the franchise industry is key to promoting an entrepreneurial culture and economic recovery.”
Brian Smart, Director of the British Franchise Association, added:
“We were very pleased by the positive response from MPs at Monday’s exchange and we thank Caroline Dinenage for her important support. There is a real hunger from MPs to capitalise on what is a sustainable, proven and low risk option for many. Our goal now is to work with MPs to help open up information and advice to many more people that may at the moment be struggling to know where to turn.”
The recent NatWest bfa Franchise Survey showed that better than 90% of franchisees report their businesses to be profitable and the rate of commercial failure is currently running at less than 4% per year; between 6 and 10 times better than conventional business start-ups.
There are 897 different brands franchising in the UK today, which support 36,900 individual franchise owners – a growth of 6.5% and 6% respectively on last year. This creates employment for over 520,000 people and generates £12.4 billion income for the UK each year. In Gosport alone there are at least a dozen different franchise operations employing about 170 people.