Franchising in the UK and Europe

(Newswire.net — October 31, 2022) Sydney, NSW — 

Powerful Economies

Europe is the world’s third-largest economy by nominal terms, with a Gross Domestic Product (GDP) of $16.6 trillion as of 2022. The United Kingdom is the fifth-largest economy, with a GDP of almost $3.2 trillion. Combined, these two markets represent almost one-quarter of the world’s economy.

These huge markets offer significant expansion opportunities to companies that have already made successful expansions within the United States. From a world stage perspective, the UK and Europe are logical steps when considering international franchise expansion due to their long-standing stable markets. While China does offer a larger marketplace, it also brings some unfamiliarity with it in terms of business. Hence the attraction for many companies to head to Europe and the UK first.

Offering Fewer Barriers

One of the biggest drawcards for expanding into the UK market is the language. While there might be an odd difference in social nuances between the U.S. and the UK, the language does not create any barriers. And business, particularly franchising, runs fairly similar in both countries.

While Europe has some language and cultural differences, the vast percentage of Europeans are multi-lingual, with English commonly spoken and understood.

According to Derek Cafferata, CEO and President of franchising experts All State Franchise Finders, franchising internationally makes a lot of sense.

“For companies who have successfully expanded throughout the U.S. and feel they have reached their full potential in that market, the UK is a great step onto the international franchising stage,” says Derek. “And once you’ve established your UK market, it makes sense to take that next step into Europe.”

Vibrant Franchise Markets

Franchising in the UK and Europe is a strong and popular choice for many entrepreneurs, especially among Millennials. According to the British Franchise Association, one in five franchisees is under the age of 30.

Young people are seeing the benefits of getting into the franchising industry, particularly with the move to a more flexible work-from-home concept as well as franchising giving more opportunities to escape the stress and pressure of the corporate world.

 “These international markets are best approached with a master licensee agreement,” says Derek. “Spend the time finding someone who is familiar with the market, who understands franchising laws and regulations, and who is keen to tweak the business to suit the consumer and the demand.”

Demand for American Products

As has been seen for several decades now, the UK market is very keen on U.S. brands and demand always remains high.

“Moving an established brand into the UK market has been done very successfully by so many American companies,” says Derek. “UK consumers hold a high respect for U.S. brands as they see them as trustworthy, innovative and offering value for money.”

In the European market, demand for U.S. brands has always been high, particularly in countries that have traditionally had tight import/export restrictions

Franchise Experts ALLSTATEFF.COM

Derek Cafferata leads a strong and dedicated team of franchising experts at All State Franchise Finders. With decades of franchising experience within the U.S. and internationally, the team at All State Franchise Finders has helped a large number of entrepreneurs move into the franchising industry in one way or another.

If you’re looking to expand into the international franchise market, then be sure to contact the award-winning franchise experts at All State Franchise Finders. Call today at 1-800-544-2161 or visit ALLSTATEFF.COM today. All State Franchise Finders – your award-winning franchise experts.