Watson Burton shows strong resilience in franchise market
Commercial law firm Watson Burton has revealed its work on transactions in the franchise sector worth around £3.5m in its latest financial year (May 2018 to April 2019).
Newcastle-headquartered Watson Burton was appointed as an affiliate to the British Franchise Association (BFA) in 2017, and has since seen increasing demand for its specialist legal services from franchisees and franchisors.
According to the NatWest (BFA) Survey 2018, there were 48,600 franchise units across the UK last year, which contributed 710,000 jobs to the economy, and the sector generated a £17.2bn turnover, up 14 per cent since 2015.
Marc Allison said: “Last year, we advised on more than 30 franchise-related transactions and continue to be engaged on structural advice, franchise disputes and franchise documents.
“We see the BFA as a ‘badge of quality’ so it is very important for Watson Burton to be affiliated with the organisation: we strongly believe in the opportunities it offers to the franchise industry.
“Our work sees us representing both franchise businesses and franchise networks that need legal support in their dealings with franchisees.
“By utilising the experience of a team who are experts in corporate, property, construction and commercial transactions we are able to offer sector specific franchise advice. In turn we anticipate further growth for the firm in this sector.
“We are the only North East-headquartered firm to have achieved BFA affiliation and it’s important to be able to offer a ‘gold standard’ to businesses across the franchise industry spectrum.”
The BFA suggest that becoming a franchisee is a popular option, as many people view it as a way of starting a business with less exposure to risk.
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