When it comes to managing finances, many people in the UK find themselves flustered. There are so many schemes and offers out there that promise the earth, but how can anyone truly know what is the best option for them? Well, if you’re looking to launch a franchise in the finance sector, this is exactly where you can come in and save the day.
There are millions of people in the UK that struggle to manage their money, and there’s plenty of research to back up that statement. According to a recent Skipton study, only one in four UK adults are currently setting aside money for their retirement. And, what’s more, a staggering 10% of over-18s say they ‘don’t know enough’ to start saving. Still need convincing? Well, a recent report published by Standard and Poor’s declared that one in three (33%) UK adults are regarded as ‘financially illiterate’. That means around 16.3 million working adults do not have a firm grasp of what they should do with their money, nor are they capable of acknowledging the potentially damaging consequences associated with failing to save adequately.
So serious is the financial knowledge crisis that Quartz has created a financial literacy quiz. Should you decide to take on a finance franchise, this quiz could be a great way to discover why clients are struggling financially, and where the gaps in their knowledge are.
When it comes to getting finances in order, many people simply need to be given a few pointers. Saving needn’t be complicated, and often a guiding hand can make all the difference. Companies such as Fifo Capital, The Financial Management Centre, WiKane and Expense Reduction Analysts have years of experience when it comes to helping people set up a franchise. You could soon be helping other individuals become more aware of potential financial pitfalls, and how they can be avoided.
If you want to help make a real difference to people’s lives, a finance franchise could be for you. To learn more, get in touch today.