Brexit and franchising - what you need to know
By Charlotte Fantelli - Published 1st July 2016 updated 4th May 2017
After what many are describing as a ‘shock’ exit vote in the EU referendum, many are asking, what does this mean for franchising in the UK? To which the British Franchise Association has replied ‘business as usual!’
While the UK economy took a nose dive as the results of the vote were announced, with 12% being wiped off the FTSE within hours, by the end of the day we had seen the markets and the GBP start to recover, showing that the mass panic of the morning was simply that, a morning of uncertainty. After just a week we were back to April’s levels on the stocks and against the dollar, so mass catastrophe has NOT been the case, despite much scare mongering among the media.
During the week post-brexit announcement, the bfa held its annual conference, at which the franchising banks told them ‘there would be no change to lending within the franchising sector; each case will still be taken on its own merits’.
In response the bfa published this statement: ‘We want to be clear that for us, and for franchising, it is very much ‘business as usual’. We will continue to work closely with the European Franchise Federation and reap the opportunities that it affords to guide and inform on franchising across Europe’.
Brexit and a Just Shutters Franchise
Closer to home, Just Shutters have actually seen an upturn in interest in franchising, seeing 60% more people applying for a franchise prospectus than the period prior, whether this is down to people taking this opportunity to ‘take back control’ of their own future and start a business of their own, or simply an anomaly, it is unclear, what is clear however is that no negative impact has been felt.
We would like to make very clear that while the economy may face a small amount of uncertainty, we at Just Shutters trade within the UK and our products are supplied from the largest and best factory in the world, based in China, and shutters are purchased by us in dollars. We believe ourselves to be well protected against any EU turmoil or disruption in trade agreements. Our franchise remains the same great opportunity, in fact as the economy bends and large companies reshuffle, now could be a better time than any to start taking your future into your own hands!
If you would like to discuss the Just Shutters business opportunity further and/or how the Brexit vote may impact upon it, please do call us on 01202 233744 or download our prospectus now by filling out the form on this page.