Economic Hopes Among New UK Shops
Across the UK, 38 % of business owners who opened stores in the last decade are optimistic about an economic upswing in the next one to two years. While a modest 9 % foresee improvement in the next year alone, they’re all rooting for a brighter future after two tough years that left many owners scrambling.
Cost‑Of‑Living Crunch: The Big Foe
- 49 % say the cost‑of‑living crisis has battered their portfolios.
- Of those, over 55 % admit profits have slipped by 11 %–50 %.
- More than half (52 %) try not to freak out about going bust.
- Still, 27 % feel quite uneasy, and 17 % are downright terrified that their ventures could disappear in five years.
Geek Retreat’s Take
Peter Dobson, CEO of Geek Retreat, shares a hopeful word:
“After a rough patch where the odds looked grim, there’s a growing sense that recovery is in sight. Our franchise model shows lower failure rates than starting solo, thanks to solid support from our Franchise Success Team—be it finances or merchandise sourcing.”
In the last 12 months, Geek Retreat has outpaced the CBI’s high‑street figures, demonstrating that a fresh retail focus on experience and community works. By weaving meaningful connections, they’ve managed to pull in new customers, boost sales, and build lasting loyalty.
From Glasgow to the Whole Country
Since opening its first shop in Glasgow in 2013, Geek Retreat has surged from ten stores in 2019 to 36 today. Their success lies in delivering a safe, inclusive spot where local fans can indulge in gaming, pop culture, and more.
Benefits of joining a franchise
Why a Franchise Might Be Your Most Reasonable Business Bet
If you’re thinking of diving headfirst into entrepreneurship, consider this: Franchises come with a safety net. The odds for a brand‑new start‑up to survive the first year in the UK are down to one in five, and hit about 60 % fail before the third year. Only a third win the 10‑year marathon. In stark contrast, the failure rate for franchisors has held steady between 8–12 % for more than two decades.
Lower Up‑Front Costs
- Initial investment can be slashed dramatically compared to launching from scratch.
- Leverage an Established brand and proven systems—no need to reinvent the wheel.
The Power of the Known Brand
- Customers already recognise the name, giving you a solid head start.
- Still, you’ll need to shout about your new location—local marketing is your secret sauce.
- Enjoy national advertising that would otherwise cost a fortune—think TV spots and broad campaigns.
Always Building New Stuff
Franchise brands have the muscle and cash to keep innovating. They roll out fresh products and services, staying a step ahead of the competition and keeping the buzz alive.
Bulk Buying, Big Savings
From café supplies to top‑grade merchandise, franchisees tap into the group’s buying power, which is a win when the cost‑of‑living crisis pushes prices up.
Support Every Step of the Way
Being your own boss is great, but a franchise adds a whole club of peers and industry pros who’ve been there. Swap ideas, troubleshoot, and fast‑track your earning potential.
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