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Ethnic Minorities & Franchising
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Manj Singh was introduced to franchising via the fast food industry. “In 2007 I took my first steps in franchising and bought into a well-known pizza franchise.” After building the business up to owning several units, Manj felt he had achieved as much as he could and started looking around for his next adventure in franchising; which led him to Redstones.
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Raising finance is often the biggest hurdle for anyone seeking to start a business and as we all know the big risks are financial. There has been concern however that the lack of access to finance is a major barrier to ethnic minority business success.
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Due to the strong working culture of ethnic minorities, franchisors are actively targeting these groups as a main source of future growth.
This year's census is expected to show that ethnic minority communities total more than 5m people, or 10% of Britain's population. It has been estimated that the ethnic population will double within the next 50 years.
Ethnic Minorities and Franchising for businesses in today's turbulent environment, change is a common occurrence. Franchising the way forward...
To evaluate the option of franchising in more depth, and to receive further insight into franchising, attend one of the many franchise seminars and workshops running throughout the UK.
You may think you have to start a franchised business in the UK from scratch but this is not always the case. Many existing UK franchisees are looking to sell their franchise.
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