The UK is the central hub for the global financial services sector, and financial services account for 7.3% of the UK workforce, employing approximately 2.2 million people. The industry also makes up 10.7% of the UK economy, and it contributed £176bn in 2015 alone.
However, there is a lot more to the financial industry than investment banks, and a financial service franchise could offer you the opportunity to join this lucrative sector. The financial franchises available are incredibly diverse, ranging from payday loans, international money transfers, accounting, payroll, lending, ATM franchising and internet stockbroking, including many others.
Despite economic uncertainty due to Brexit, the need for financial services is never going to change, as businesses and individuals will always need their accounts and taxes prepared, firms to take care of mortgages and loans, advice on financial issues, cost management guidance and accountancy assistance.
Service-orientated entrepreneurs are the ideal candidates for these types of franchises; however, most franchises will provide the relevant training. The benefits of joining a franchise are varied, but, most importantly, franchising your business can produce high financial returns for generally very little risk. Franchising is also a great way to gain expansion capital, and could provide you with access to better talent and connections.
Current finance franchising options include Auditel, The Financial Management Centre, Expense Reduction Analysts, Brokerplan, The Interface Financial Group, TaxAssist Accountants, TransCash, MCT World, The Bookkeeping Clinic and Payrolls Direct.
The finance industry is not just limited to individuals and businesses, clients can also include government agencies and nonprofit organisations, as well as activities such as insurance, securities trading and lending. If you are interested in expanding into this wide and varied industry, consider partnering with a finance franchise today.