Trends and Facts About Consulting Franchises in the UK
Business consulting is a growing industry around the world. In the UK, the 2023 revenue numbers for consulting services nearly doubled during the previous 5-year period to £20.4 billion, according to the Management Consultancies Association. The number of employees in the field has also increased by 66% during the same period.
It's not just UK clients helping the industry grow in the country. More UK consulting firms are broadening their client bases internationally. The result is that 28% of fees come from clients outside the UK, which is a big part of why the industry is growing in the country. Other European countries provided a large amount of the business from abroad, followed by the United States.
Businesses are willing to pay consultants to help them increase profits and decrease waste. Having an outside perspective and expert advice can often help an organization overcome barriers. Changes in technology, sustainability and remote work, and emerging issues also increase the need for consultants. Industry-specific changes to regulations, technology, or best practices may also increase the demand for consulting services.
Introduction to Consultant Franchises
Franchises are available for a wide range of services and business types, including business and franchise consulting. Like other franchises, opportunities in the consulting sector allow you to pay franchise fees to own a franchise location. The franchisee operates the consultancy business based on the guidelines established by the franchisor.
When a new franchisee opens a location, they're licensed to use the branding, systems and processes established by the parent company. The opportunity also comes with extensive training on the methodologies used by the franchise.
Consultant franchises may offer general business consulting services or specialize in a particular area, such as IT, recruitment, or business finance. Some franchises even serve as consultants on franchising.
Choosing a consultancy-focused franchise opens significant opportunities for you. Many business owners and aspiring entrepreneurs want a shortcut to success. They find this by working with business consultants to help them streamline their processes and identify practices that are holding them back.
It's possible to start an independently owned consultant business, but the process can be lengthy and difficult. It requires in-depth knowledge of consultancy and business operations. Business owners need to understand the local and UK-wide requirements for starting and running a business. They're responsible for creating a business model and writing a business plan. Finding clients can also be challenging for new independent businesses that don't already have established connections.
Consulting franchises allow entrepreneurs to put their expertise into action. They provide guidance and tools to help get your business off the ground quickly.
Benefits of Investing in a Consultant Franchise
Why would a business owner want to invest in a consultant franchise? There are many advantages of taking up a franchise opportunity in consulting, especially when compared to starting an independently owned consulting firm. Here are some of the key benefits:
- Established branding: A franchise has already built a name in the industry, and this can give your new business credibility from the beginning. This can help you attract more clients in a sector that relies on reputation and experience.
- Proven methods: When you buy into a franchise, you gain access to the methods and processes they've already tested and proven to be effective. Starting a business from scratch often requires trial and error to determine what works well. It's like getting expert advice to skip ahead and achieve business success faster.
- Built-in support: New franchisees typically receive extensive training to learn the procedures of the franchise. They also receive ongoing support when new situations arise.
- Revenue potential: Consulting is a growing industry, which provides lots of potential for revenue. Going down the franchise route can help you become profitable more quickly because you have more resources than someone starting from scratch.
How Franchise Direct Helps Entrepreneurs
Franchise Direct UK connects entrepreneurs with the top franchises currently for sale. In addition to finding franchise opportunities in a wide range of industries, Franchise Direct also provides resources and information about becoming a franchisee to make the move easier. Explore the franchise consultant opportunities available on Franchise Direct today.