Posted:15-August-2023
NIC Services Announced as Main Sponsor for BFA's Landmark National Franchise Survey: Unveiling Key Insights on UK Franchise Sector for 2024
The BFA (British Franchise Association) has announced the launch of its latest national franchise survey. As in previous years, the survey will reveal the most important facts surrounding the franchise sector, including the numbers of franchise operations, the sector’s contribution to the UK’s GDP (Gross Domestic Product) and the profitability of franchisees. Research will begin in mid-August 2023 for publication in January 2024.
For the first time ever a franchisor, NIC Services, is sponsoring the survey. A commercial cleaning services provider, NIC Services have been members of the BFA since 2006. Group Chairman John Spencer, a former board member and Chairman of the BFA from 2018 to 2022 said he believes good data is a key component of making a sound business decision: “Whilst building my business, I found the BFA national franchise survey to be an important source of up-to-date information on the franchise sector and I am proud that NIC will now be the main sponsor of this important body of work.”
The national franchise survey will be undertaken every other year, giving the industry regular, up to date figures.
Pip Wilkins, CEO of the BFA said: “We could not be more delighted to announce the return of the BFA national franchise survey and our enormous thanks to sponsors NIC Services without whom we could not bring this crucial information to the franchise sector and the wider British public.”
She continued: “The survey is a vital tool to promote and protect franchising in the UK. Its results support the entire sector, allowing franchisors to demonstrate the success of franchising to potential franchisees and encouraging successful business owners to consider franchising their business as a route to growth and commercial success. Since our last survey in 2018 we have had the Covid Pandemic and now, the cost-of-living crisis, so it is going to be very interesting to see what the survey reveals, and we very much hope the news will reflect the strength, profitability, flexibility and dynamism of the sector we know and love.”
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