Wednesday, 28 October 2021 08:26

Franchising could breathe life back into Aberdeen

An independent consultancy has suggested that franchising could help to breathe life back into Aberdeen, as the number of redundancies in the north-east continues.

With many North Sea operators announcing job losses as a result of the low oil price, the employment market in the city is highly competitive, with many people being forced to now explore different options for employment.

Consultancy Platinum Wave has suggested that franchising could be one way to reduce the impact of the redundancies. The British Franchise Association says that Scotland’s sector is now worth £700million, and that 92% of franchises are profitable.

The company’s managing director, Suzie McCafferty, said: “Many people when they are made redundant consider the option of starting their own business but are daunted by the thought of starting from scratch.

“Franchising, on the other hand, offers a really easy way to become your own boss. By purchasing a reputable franchise you are establishing an enterprise, which has a proven and profitable business model, and you should receive excellent training and support from the franchisor so you are not completely on your own.

“We are currently recruiting for leading franchise brands throughout Scotland. The range of sectors is diverse from fast food and estate agency to home care and recruitment. There are also a number of investment levels starting from just £10,000.

“The good news is that banks are more than willing to lend to the ethical franchise sector. Up to 75% of the franchise fee plus working capital requirement can be borrowed subject to the bank’s normal credit criteria.”

Platinum Wave is also holding a free franchise clinic in Aberdeen on 7 December, for those interested in learning more about franchising and specific opportunities.

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