Franchise Opportunities Growth in Ireland

Irish Franchise sector turnover has jumped 15 per cent to Eur2.4 billion in the last five years. The industry delivered over 4,000 operating units in Ireland last year and has generated over 42,000 jobs, according to an assessment of the Irish franchise market conducted by UCD Michael Smurfit Business School and Ulster Bank. The franchise sector has increased job creation figures every year over the last five years, when the study was last conducted. Research findings showed that the average initial franchise fee is Eur24,500 plus, which represents little change from 5 years ago. However, there was a significant difference in terms of the average working capital and total set up costs. The research found that the average working capital is Eur21,873, which compares with Eur39,300 five years ago. There has also been a significant drop in total set up costs which have dropped. Irish Franchise Association chairman David Killeen said, We have no doubt that there has been a slowdown in the rate of franchise development over the last year, however the sector continues to grow despite the economic situation. Recessionary times are normally good for franchising and we have seen a huge increase in enquiries about franchising. Half of franchises are in the service sector, one third in the retail sector and the minority are van based. In terms of the business sector in which franchise owners operate, the food and drink industry is the most popular comprising more than a fifth of franchisers. To search the leading Franchises for Sale in Ireland, please click the Home link.