SEPTEMBER 2016
1.3 million Brits dream of starting their own business
n Over 1.3 million Britons dream of running their own business in the next 12 months, according to new research from Direct Line for Business.
When asked what type of business they would like to set up, fi ve per cent said that they would set up a shop, with ambitions ranging from books and music to mobility scooters and Wiccan products. The most popular choice was a tearoom, which was chosen by six per cent of participants. More broadly, the most popular startup sector among the British population is the
food and restaurant trade, with nearly one in fi ve saying they would launch a bakery or café. This is closely followed by retail, with 16 per cent citing businesses like craft shops as their ideal venture. Funding is the most common barrier to potential owners, with 51 per cent of people put off by lack of capital. However, almost a third said they didn’t know where to start or lacked confi dence. Nick Breton, head of Direct Line for Business, said: “Our research highlights the underlying desire amongst people to start up their own business ventures. It’s clear Brits are looking to turn their passions into professions, as cooking and crafting are deemed more popular than businesses that focus on technology, for example. “Funding is key to starting a business, but good advice and support is just as crucial to help new people launch their business and build for the future.”
DID YOU KNOW
?
Nearly one in fi ve franchise businesses now employ more than 10 full-time employees
+
Source: According to the bfa/NatWest Franchise Survey 2015
It could be you!
n Gabriel Moreno recently opened his sixth CeX store along the south coast of England. The business is a uniquely focused buy-and-sell retail franchise that specialises in technology and entertainment products.
Gabriel said: “I was fi rst introduced to franchising while working as a store manager, and later area manager, in a fast food franchise chain. When I started the research for my own franchise I felt it was important to consider the franchisor’s market experience and that
they had a well-established brand. This is defi nitely worthwhile to diminish the risk and achieve the success of your investment.
“CeX brings an innovative franchise model, directly involved with a challenging and constantly moving industry, dealing with products such as electronic devices, fi lms, and games, as well as technology and entertainment in general. Moreover, the fl exible royalty policy and the 12-month buy-back guarantee made me feel confi dent enough to get involved.
“I most enjoy seeing my business
grow. It’s an added bonus that I have the opportunity to try out a host of technology products during the course of my day.” Regarding the qualities that Gabriel believes makes a perfect CeX franchise
owner, he explained: “They need to be a self-motivated and passionate individual looking to stand out from the crowd and achieve success in a shifting and vibrant industry.”
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BusinessFranchise.com | September 2016
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