Europe, and indeed the European Union (EU) is home to one of the world's largest retail markets with an excess of 440 million consumers looking for quality goods.
So, it will not come a huge surprise to learn that on of Europe’s most profitable business sectors; most recent figures show the retail sector bringing in 3.25 trillion euros and forecast to reach a value of approximately 3.55 trillion euros by 2023.
The retail sector is a huge employer, 2021 figures show a staggering 27.5 million people are working in the wholesale and retail trade, reflecting the powerful role in plays in the economy. Such is its importance that the retail industry is used as a barometer for the growth, performance and general health of the economy at large.
Retail franchises offer an opportunity to invest in a flourishing brand; be that a solely online venture or within brick-and-mortar premises, or a blend of both models.
Retail franchise opportunities come in all shapes and sizes, available in a wide range of business operations, including:
You will find the European retail sector is heavily saturated - presenting a substantial challenge for independent retailers to overcome - franchising on the other hand, offers a direct route into existing markets.
While it is true the retail sector was hard hit by the Covid-19 pandemic in 2020, over the course of the past decade however, the retail sector in Europe has seen constant grow and as the world returns to normal, retail is demonstrating a remarkable recovery.
Supermarkets are seen as giants of the retail sector, taking up a key segment of the retail landscape.
And while physical stores continue to recover the impact of the pandemic, online shopping is booming, and online stores and online retailers have experienced unprecedented growth. In 2021 alone, 1.79 billion people across the globe made an online purchase. In Europe 66% of adults ordered or purchased goods or services over the internet during 2021, an increase of 15% when compared with 2016.
Covid-19 revealed the importance of online retail and while the exponential growth experienced during the pandemic is unlikely to be matched, online retailers and online businesses will continue to be popular and further grow is predicted in 2023 and beyond.
Evidently, retail is both evolving and rebounding to meet the post-pandemic agenda. This makes it a perfect time to enter the retail sector by investing in a strong recognisable brand, offering immediate appeal that your future customers and clients trust, know and love.
The retail sector is undoubtedly a congested one. It is a marketplace that can present a formidable challenge to newcomers seeking to break into the industry and discover a lucrative niche. It is in this instance that franchising has become an invaluable avenue towards business ownership and entrepreneurship.
Yes, there is also a huge amount of risk taking involved in establishing a new business or enterprise, but the retail sector can be especially challenging. One of the major difficulties faced by an independent operator is carving out a space within the marketplace against the backdrop pf established companies with renowned brands, reputations and clearly defined ethos and identity.
So, what is the logical path to take when you want to open a retail business?
Before choosing to invest, seek a company that has:
When you choose to invest in a franchise, you are essentially forming a partnership with an established expert with in-depth market knowledge. The parent company has already surmounted the obstacles that beset early days retailers; they've made all the mistakes so that you don't have to.
So, in choosing to invest in a retail franchise, you get a head start. You will begin your retail journey from a much better footing than independent business owners who have to navigate through the choppy waters and inevitable pitfalls of early days of business.
Indeed, franchising provides a unique opportunity to enter the retail marketplace with a functioning operational model, proven to resonate with the customer base and ready to run from the moment you open your doors to the public.
Most parent companies will ensure that you receive training to optimise your earning potential and guarantee you can preserve the parent company's hard-earned reputation. So, by choosing to invest in a retail franchise you are also making an investment in yourself.
This way you will have all the know-how that your future customers will come to rely upon.
Also, some parent companies provide essential HR support services, assisting you and your new business venture is compliant with a raft of complicated business, employment and financial regulations. This provision is priceless; complicated compliance concerns cause many a sleepless night for independent business owners.
Retail franchises offer:
Starting a retail franchise will never be as easy a decision as it is right now because of the huge potential and profitable outcomes it offers. There are lots of retail franchise opportunities in Europe, but you will need some assistance in picking the right investment for you. Hence, we are here to guide you every step of the way while you begin your retail franchise.