Help the economy - invest in a franchise.
Tens of thousands of people made redundant last year have the potential to play a crucial role in the economy by investing in a franchise – according to Andrew Pearce franchisor and founder of A B C Photography.
Mr Pearce suggests that by investing redundancy packages wisely, people can start their own business without the challenges faced by individual start-up enterprises.
From June to September 2011, 147,000 were made redundant – up 2000 on the same period in 2010. The average redundancy package, according to the Chartered Institute of Personnel and development, is around £17,000 for public sector workers and in the region of £9000 for private-sector employees. An initial investment in an A B C Photography franchise is as low as £14995 including equipment, training and 2 years franchise fee.
According to the British Franchise Association’s 2011 survey, one in five new franchisees came from unemployment or had recently been made redundant. Mr Pearce confirms that enquiries from redundancy candidates into his franchise operation, A B C Photography, have been on the increase over the last 12 months.
He said: “If more than 100,000 redundant people were able to successfully invest in a franchise they would become a new battalion for the private sector in the battle to grow the country’s economy.” – Business Franchise March 2012.