Electrical consumption in the average UK home comes in at around 3700 kWh per year. And while every building's energy efficiency varies, this figure demonstrates that we're wholly reliant on appliances that feed from the National Grid.
Most homes have at least one television set, a radio, a refrigerator, a vacuum cleaner, a kettle, a toaster, a microwave, and a conventional oven. Many homes also contain a washing machine/tumble dryer, a dishwasher, hairdryer, a sound system, a WIFI router. And that's before we include the multiple mobile devices and computers.
The long and the short of it is that the UK is hooked on electrical appliances.
So, electrical franchises have a thriving customer base. And as time goes on, technology improves, and we renew our televisions, appliances, and vehicles for more efficient, more powerful models.
Electrical franchises span a wide range of trades, including appliance supply, electrical servicing and connection, and repairs.
The demand for electrical products from mobile phones and tablets to kettles and toasters continues to grow; represented by more than 3000 household appliance outlets in the UK, and over 375 electrical equipment manufacturers.
Franchising
Starting up in business is a risky pursuit, and almost half of all independent start-ups in the UK go into receivership before their third anniversary. The principal problem for start-ups comes from an inability to gain traction in saturated markets and the challenge of besting their competitors.
Franchising offers a unique opportunity for anyone considering going into business for themselves. When you invest in a franchise, you inherit the familiar branding of an established company.
Inherit instant curb-appeal if you have a physical shop or workshop, and the SEO of your parent company to help you get to the top of the search engine results page.
Familiar branding benefits a new company because it makes you recognisable to a client base who already know you.
Most electrical franchises offer full training, so it could be possible to completely start from scratch and learn a new trade in the case of an electrician or electrical engineer. The support doesn’t stop with most franchises - they help you maximise every opportunity once you’re up and running.
Electrical franchises will help you set your venture up from scratch, with support to ensure that you comply with all business- and industrial standards and regulations, and a ready-to-go business model.
Familiar branding is only as good as the reputation that precedes it, and this is one of the main benefits of taking on an electrical franchise. Along with the branding, you take onboard the parent company’s hard-earned reputation. If your clients trust you from the get-go, they’ll come to you first.
Facts About Electrical Franchises
Many electricians operate on a 24-7 basis. This means that it’s possible to charge a premium for your services. Regardless of the state of the economy, the general public and businesses need essential electrical work.
Even during periods of economic downturn, the electricians' industry grows. Between 2015-2020, the average industry growth was 0.6%; with an expectation of further growth between 2020 and 2025.
The UK electrician industry is worth £25bn a year, supporting over 214,000 employees.
The electrical retail sector continues to grow year-on-year, with a growing trend towards online sales. Average weekly sales for the industry is £270m, with 12.5% of those sales made online.
Franchising Vs Independent
Banks favour franchises when it comes to gaining vital start-up funds. They consider franchises to be built on robust foundations with a stable financial history and a clear trajectory for growth.
Independent companies, however, are considered much higher risk. Most indies struggle to establish themselves, especially in high-ticket sectors such as the electrical retail market. Resultantly, almost half of independent start-ups are going into administration within three years of opening their doors.
Franchise businesses, on the other hand, are built of sturdier stuff, with opportunities to thrive, grow, and hit impressive, optimistic targets right from the start.
Electrical Franchises
Explore our range of electrical franchises, and get the nation switched on to new tech right now.
Find your brand new start with Franchise Direct.