Allied Irish Bank (GB) launches £50 million Franchising Fund
We are delighted to announce a £50 million Franchising Fund, to help create over 1,500 jobs across the UK.
The fund will target franchises with five or more units, offering them the holistic, full banking service they require. We have also hired two senior bankers to lead the new fund.
According to a survey from 2013 carried out by the British Franchising Association and Natwest, the overall contribution of franchising to the UK economy has grown by 20% over the past 5 years, contributing approximately 1% of GDP in 2013. Despite the challenging economic backdrop the franchise system is becoming more popular and profitable with an increase in both new entrants to the marketplace, and strong growth from established players.
Francine Allen, Head of Franchising for the new fund said: “Primary markets include fast food chains, coffee shops, retail and the hotel business. From a franchisor perspective, the franchise model provides them a way of developing their business with lower levels of investment, making it easier to quickly gain market share. For a franchisee, it gives the owner the benefit of a strong and proven brand.”
Gerard O’Keeffe, Head of GB Business, said: “The franchise market has experienced strong growth despite the challenging economic environment and many people are attracted by the lower risk and support associated with a franchise business. This franchising fund is evidence of our continued growth in the UK market and it fits perfectly with our expertise in the owner managed business segment. We are delighted to continue to support their growth in the UK, contributing to new employment opportunities across the country.”
To learn more about our Franchising proposition, click here.