With the number of new UK businesses growing at an average annual rate of 3%, there are plenty of opportunities for consultants to capitalise on. So if you are looking to lend out your own specialist skills, whether in recruitment or finance, to IT and marketing, there’s no better time to start your own consulting franchise.
Many professionals already make a comfortable living from consulting thanks to the UK’s consulting market being one of the fastest growing in Europe. Worth an estimated £10 billion, it represents the second largest in Europe. And whatever your skill set, there’s considerable scope to do well across the field of consultancy service lines.
The financial services client market is the biggest for UK consultants, growing to £2.2bn in 2016. Also experiencing rapid upward growth are the technology and cybersecurity, risk and regulations, and strategy consultancy markets due to developments including AI, data protection rulings and interactive media.
Whatever your area of expertise, there are a range of consulting franchises looking for new franchisees. These include Auditel, which offers business management services throughout the UK and Ireland, and SmartPA, which provides virtual assistant services. There are also HR franchises, such as Antal International and The Coaching Revolution, which provide recruitment strategy and training services to businesses.
Financial consulting franchises include Fifo Capital England and Brokerplan, or you could choose to help businesses streamline their resources with franchises such as Utility360. If you’ve enjoyed a successful career in marketing, you could channel your prowess into being a full-service marketing provider with a franchise like Go Media or BLAM! Websites and Apps, or undertake a new challenge as a corporate event franchise with Green Hat People.
Aside from the exponential increase in UK businesses and an almost 20% growth in outsourcing thanks to flexible working models and cloud-based technology, there are a host of other reasons to buy a consultancy franchise:
Many franchisees have an appetite for setting up their own business and want the satisfaction of heading up a service that meets their own skills and interests. After a career in your industry, you may feel you’ve accrued enough specialist knowledge to put to good use by helping others flourish.
Primed for success
Though there is a thrill that comes with starting a business from scratch, there is no denying it’s a struggle, and many entrepreneurs fail. However, starting a consulting franchise provides some of the most supportive conditions in which to thrive. With the help of an established brand and their existing marketing strategy, customer base and support lines, you stand the best chance of success.
By starting a consulting franchise, you're also one step ahead in calculating business moves because you have a business plan that works and an established brand. This frees you up to look at expanding into new areas or services.
Better financial standing
Lenders also prefer to give financial support to franchises because they already have evidence of future success and a tried and tested business model behind them. This makes it even easier to grow your franchise consultancy business over one which hits the market cold.
Spotted a gap in your local area? Ready to find out what starting your own consulting franchise could do for you? Take a look at our opportunities or get in touch!