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Bright Future for Franchise Model

Fri, 18/06/2010 - 2:19pm

Bob Darling discusses the future of the franchise model in Insurance People Magazine this month.

Taken from Insurance People Magazine (http://content.yudu.com/…urces/10.htm) | Jun 2010

The broking franchise model has a bright future, according to Coversure’s franchise director Bob Darling. Citing the British Franchise Association’s 26th survey on the state of the franchise market, he links Coversure’s third successive record month with the optimism of the survey which reveals that the franchise industry contributes £11.8bn to the UK economy , and that 30% more franchises are profitable compared to the last recession.

“Looking to the future, 94% of franchises are ‘optimistic’ about the future. This is certainly the felling at Coversure. A number of our branches are seeing the benefits of increased marketing and additional products. The positive atmosphere seems to have helped us grow,” says Mr Darling. “The franchise model makes the most of centralised support and economies of scale, while benefiting from the enthusiasm and professionalism of local business people running local businesses.”

The survey also noted that franchisors and franchisees are expecting growth, with franchisors, on average, planning for 8.8 addition outlets. “We are seeing more enquiries than even, and expect to open a number of new outlets this yea,” says Bob Darling. “We have an office opening in Tamworth in June, and there are a further three going through the FSA process at the moment.”