Why Franchising?
Did you know that after 5 years, 80% of franchises are successful compared to less than 20% for indigenous start-up companies. Franchising lends itself to individuals who are comfortable in following a standard methodology, can work with a support framework and who have a desire to be their own boss.
Furthermore:
- Banks provide 70% funding to Franchises because of their success rate.
- Franchising matches the profile of the majority of workers being made redundant today.
- Franchising embeds the entrepreneurial culture at an early stage.
- Franchises in Ireland have an average of 8 employees.
- Franchises are fundable, secure, and successful and create jobs.
- The service sector and retail management is one of the fastest growing areas of our economy.
Benefits to the region
The Franchise Acceleration Start-up Training business programme is the foundation of a National Centre of Excellence for Franchise Enterprise Development based in a new City-Centre Enterprise Incubation Hub bringing additional vibrancy to the city centre. It creates franchise-ready candidates trained in all aspects of running a successful franchise business and contributes to the creation of a meaningful amount of employment in the service and related sectors, by successful candidates setting up their own businesses. The centre it will form the nucleus of securing franchise training contracts from Master Franchisors, it will attract investor funding and position Limerick and the Mid-west as the location of choice for Franchise development and training. Most importantly it will play a very meaningful role in re-training of unemployed people for meaningful new employment opportunities and embedding an entrepreneurial culture.
