According to AMA Research via Construct UK, the UK home improvement multiples market was worth around £7.2bn in value terms (RSP) in 2015.
The rise in demand is due to:
- Growth in the general economy with rising incomes
- A stronger housing market including home purchasing incentives such as Help to Buy
- Improvement in summer weather conditions which showed an increase in the outdoor maintenance jobs
However, growth has largely been constrained by a shift away from householders doing DIY jobs towards using tradesmen. This has been most noticeable among the under 35s, where a general lack of skills/aptitude and a preference for spending money and time on other things has developed over the last few years.
Franchising is now reckoned to contribute £15.1bn to the UK economy – that’s an increase of 46% over the last decade. There are now 621,000 people employed via franchising including 321,000 in full-time employment, with a 14% increase in the number of franchisee-owned businesses over the last two years.
Average turnover continues to rise and over half now claim an annual turnover of more than £250,000. A record 97% of franchisee-owned units reported profitability.
(Source: British Franchise Association)
