What are the most successful franchises in the UK?
After an intensely challenging past 18 months or so, many entrepreneurs have started ‘side hussles’ or want to redirect their focus with new businesses that are more ‘bomb-proof’.
Franchises are good business options that can give you quick traction if they are established. The franchise consultants Lime Licensing Group have a dynamic list of franchises updated monthly, which is a good starting point.
Having a list of franchises in front of you will start questions rattling off in your head. First up will no doubt be: “How do I decide which is the best one?”
Franchise choices from pre-covid research will have mostly fallen off the “best one” shortlist. The franchise industry has changed significantly in the wake of the new economy. Due diligence of past results will not be a good projection as the future in a post-epidemic is an anomaly. See our article on “Due diligence when buying a business” to see the benefit of a due diligence process.
Even if the franchise survived the epidemic in reasonable shape, the future will most likely bear different results to the presented historical facts. This is not only true of franchises but businesses in general.
What franchises are successful options in the UK?
The events industry predicts a strong come-back of fete’s, music festivals and large sporting events later in 2021 with society’s lockdown fatigue. If that does occur then, an events franchise would be a top consideration, but projections are tough to quantify. This is not to say that there is no chance of this happening. If the lockdown regulations drop and the pandemic is kicked to the sideline, then the events industry will definitely flourish.
No doubt you are as fatigued as other business people with the constant “if” and “pandemic” mentions, so let’s look at the businesses that always work.
Window cleaning is a simple, must-have business that continues even during a pandemic. Its attractiveness is increased by the fact that most clients “subscribe” for repeat price packages. There is nothing mind-blowing about the business model nor the service concept, but it is a solid, low assets option.
Another great option which suits a pandemic OR non-pandemic environment is an online community centre such as See No Bounds. This was started after the founder woke up paralysed one morning. He created the business model to a community of people who are forced to adapt and diversify. It is now a B2B burgeoning business and is UK’s first Online Community Centre and is expanding nationally. It is being referred to as “Yell.com on steroids.”
Funerals & healthcare
Other franchises that had only a minor effect, or thrived, from the pandemic were Full Circle Funerals, Percurra and Wolf Healthcare. They are relatively immune from market forces.
With international travel restrictions and a pervading fear of the risk of travel, you may see brands that do car roof box hire benefiting. Road trips are definitely on the increase, deeper appreciation of home countries and visiting family and friends (when permitted).
Mental health businesses
Another industry that has seen an upturn in clientele is the mental health industry. A franchise advocating mental health awareness will be relevant during and after the pandemic. One such franchise, The Cuddle Club, is a powerful animal therapy solution through the “power of pups” and is expanding nationally.
Which franchises are the most profitable in the UK?
If there is one thing the pandemic has taught us is that not all businesses are created equal. After such a confidence-rattling year, entrepreneurs want to invest in businesses that are lucrative both this year and in the future.
Here is an overview of global and local franchises. The top-performing franchises were heavily weighted with international brands, possibly due to their huge financial resources but possibly also due to astute marketing:
Top 100 Franchises in the UK 2020/2021
This list was compiled by Franchise Direct after they examined hundreds of franchise brands across the United Kingdom:
Expense Reduction Analysts
Fashion and Alterations
Property & Estate Agency
Training & Business Coaching
Training & Business Coaching
This is an extract from the top 100 franchise brands. You can find the full list of the Top 100 here.
WorkBuzz also has the Best Franchise Awards for top performers. The award system is unique as they are based on feedback from thousands of actual franchisees. WorkBuzz has each franchisee completes a Franchise Satisfaction Benchmark survey rating their franchisor holistically. All the data is strictly confidential.
The 2020/21 Best Franchise Awards were sponsored by Lloyds Bank. In partnership with Coconut Creatives, WorkBuzz announced the 2020/21 winners:
Best New Entry – We Love Pets
Best Franchise – Under £2m Network Turnover – Pink Spaghetti
Best Franchise – £2-10m Network Turnover – Razzamataz Theatre Schools
Best Franchise – £10m+ Network Turnover – Right at Home
WorkBuzz Hero – Martin Jones, CEO of Home Instead.
The WorkBuzz Hero award
This WorkBuzz Hero award recognises individuals who have had a consistent, huge impact on both their franchise networks and their industry. During 2020, Martin formed a Covid Taskforce to support Home Instead’s 200+ plus franchise offices, 17, 000 clients and 12, 000+ CAREGivers! That is franchisor leadership at a Masters level.
During this time, the franchisee’s client satisfaction levels soared to 97 percent of clients, and 98 percent of the clients said that their CAREGiver had helped keep them safe during the pandemic. This type of franchisor care makes it a very attractive franchise option, including its ability to be relevant during a crisis.