You are currently viewing Franchising In A Recession: When The Going Gets Tough, Can Franchises Keep Going?

For business owners, franchisors and franchisees alike the past two and a half years have been one hard hit after another – a global pandemic and long periods of lockdown and restrictions, the impact of the invasion of Ukraine, a cost of living crisis and now here in the United Kingdom a bleak warning yesterday from the Bank of England that we’re facing a recession. The UK economy is predicted to shrink in the last three months of this year, and to continue to shrink until the end of 2023.

With such grim news on the horizon, many franchisors will have cause to feel worried that franchise enquiries will dry up and that prospects will be unwilling to invest both financially and emotionally in a new business venture at such a time of uncertainty. However, the good news is that franchising as a business model has shown

Keep reading this article on Forbes Small Business.

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