Ireland Franchise owners

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Interview with Dermot Kane, TaxAssist Accountants Dublin

Dermot Kane joined TaxAssist Accountants in October 2010, opening his own accountancy practice in Dublin. Dermot had a background in accountancy and was the finance director for a plant and machinery company.  After being made redundant, Dermot decided to look t being his own boss.  Nervous about starting out on his own led Dermot to look at the security net of franchising.

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Ireland Franchise News

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Card Connection Franchisee Named as Finalist for Irish Franchise Association Award

Leading greeting card publisher and franchisor, Card Connection, has announced Joseph Sweeney, franchisee for Ireland West and Midlands, has been named as a finalist for the Irish Franchise Association (IFA), Franchisee of the Year Award in the Service category.

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New Franchise Resales Site

Moving to the US? Looking to buy a pre-owned franchise? Then visit our new site www.franchiseresales.com dedicated to the selling of pre-ownwed franchises in the US.

Franchising in Ireland

Turnover for franchising in Ireland is €2.419 billion which represents an increase of 15% since the last survey in 2006. The Irish franchise industry has created 4,086 operating franchise units and 42,927 full-time equivalent franchise jobs. In a time of economic downturn the franchise sector in Ireland has increased job creation figures every year since 2006.

The types of franchise businesses that exist in Ireland are varied with over half in the service sector, one-third in the retail sector and the minority of franchise opportunities being van based. In terms of the business sector in which franchise owners operate, the food and drink industry is the most popular comprising of over one-fifth of franchise owners. Nearly one-third have held a master franchise for three years or less, indicative of the continued growth in the sector.

Indigenous Irish franchises account for nearly one-fifth of the franchise market. Although this may be a small percentage currently, growth is evident as this has increased from 14 percent in 2006. When looking at the origin of franchise systems operating in Ireland, the UK has overtaken the US as the dominant player, accounting for over one-third of the market. An interesting finding is that new entrants from other countries such as Australia, Spain and the Far East have established themselves in the Irish franchise market.

The research showed that the average initial franchise fee for buying a franchise in Ireland is€24,638. The research also found that the average working capital for setting up a franchise business in Ireland is€21,873 and the total set-up cost is an average€124,330.

Franchising is now a significant contributor to new business start-ups throughout Ireland. There is nothing to suggest that this upward trend won't continue. On the contrary; franchising is making its mark around the world, as established franchise brands, and some newcomers, expand further and further into international markets, creating global brand awareness for themselves in the process.

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