X-Press Legal Services
Franchising Bucks the Recession
According to the Office for National Statistics, 2009 saw the total UK GDP decline 3.14%, from £1,330,088bn in 2008 to £1,264,077bn, however the latest NatWest bfa Franchise Survey findings show that the franchising industry saw an opposing trend. The franchise industry contributed £11.8 billion to the country’s GDP in 2009, an increase of 3.4% from £11.4 billion in 2008.
The survey also states that even with the recent economic climate the average turnover figures for franchisees increased just under 3% from £342,410 and now stand at £353,000.
Even though it has be a tough time for many UK businesses, the Natwest bfa Franchising Survey has clearly shown that the franchising industry is a stable area in which to invest, with some sectors such as property services growing at a fantastic rate.
In 2009 X-Press Legal Services alone saw a growth of 27% in network turnover. This increase can be attributed to the economic climate stabilising, the public having more faith in the housing market and the sheer determination shown by the franchisees to build their businesses throughout the recent recession.
Dan Archer, Franchise Development Director for X-Press Legal Services commented, “Our performance as a network during the downturn is remarkable and this growth is a real significant achievement for the network as a whole with some fantastic results for the individual businesses.” Follow franchise related Tweets from Dan Archer www.twitter.com/therealdarcher
X-Press Legal Services Limited was set up in 2000 and launched as a franchise in October, 2005. X-Press Legal Limited specialises in providing property searches and reports for solicitors and other professional conveyancers.
