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UK Prospective Franchisee Survey 2014 Results Part 1: Franchisee Demographics, Researching and Financing

Section 1: Franchisee Demographics

This section examined the prospective franchisees' diverse mix of gender, age, and ethnicity, and looked at the experience that they will bring to their franchise.


Why are you considering starting a franchise?

It's a way to expand my business(es)
I have been made
redundant
To make supplemental income
I want to be my own boss
I could not get financing for an independent small business
Other

 


Have you ever operated
a business before?


Yes
No

 

Do you have management experience?


Yes
No

 


What is your gender?

Male
Female

 


Which age category
do you fall into?

18-29
30-39
40-49
50-59
60+

 

What is your current highest level
of educational attainment?

Primary school
Secondary school
Some third level education
Bachelor's degree
Master's degree
PhD

 


What is your current employment status?

Employed by another business/organisation
Self-employed
Unemployed


Section 2: Researching

See where potential franchisees are looking and going to find their perfect match.

 


How soon are you looking
to buy a franchise?

0-3 months
4-6 months
7-12 months
13-24 months
Over 24 months

 


How many franchises have you or will you —
solicit information from before choosing?

Less than 5
5 to 10
More than 10

 

Where do you go to research information
on possible franchises?

Newspapers/magazines
28.9%
Online franchise directories
87.9%
The websites of franchisors
64.4%
Tradeshows/conferences
25.5%
Friends/relatives
18.1%
A franchise consultant
14.8%
Other
4.7%

 


Have you ever attended a
franchise expo or trade show?


Yes
No

 

 

Section 3: Financing

How do our site visitors intend to fund their franchise? This segment of the survey examined the financing options available to franchisees and learned which are most popular. 

 

How do you plan on financing your franchise?

Bank loan
40.1%
Credit union loan
5.4%
Personal savings/retirement fund
66%
Angel investor
6.1%
Family and/or friends
20.4%
Grant(s)
10.2%
Credit card(s)
6.1%
Other
5.4%

 

What percentage of the total
investment are you looking
to finance through outsiders
(i.e. not personal savings etc.)?

0%
1% to 25%
26% to 50%
51% to 75%
Over 75%

 

How much are you willing to spend
to start a franchise?

Less than £5k
£5k to £10k
£11k to £50k
£51k to £100k
£101k to £200k
Over £200k

 

Are you planning to invest in a franchise on your own,
or as a part of a group?


On my own
As part of a group
Not sure yet

 

For more findings from the survey, please click the Next button below.

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