Britain’s franchise industry will create around 250,000 new jobs within the next 18 months, according to franchise development company Franchise Development Services (FDS).

FDS says an increasing number of individuals are seeking to become their own bosses by becoming franchise owners.

Roy Seaman, founder and managing director of FDS, says: “We are currently working with 75 large companies wanting to expand their franchise network.

“For instance Subway, the fast food outlet, wants to expand their network from 1,500 outlets in the UK to 3,000 in the next three years.

“CeX Complete Entertainment Exchange, which specialises in trading digital entertainment products directly with the public, wants to double their 100 franchised outlets in the country as quickly as possible.

“And our research indicates there are as many as 250,000 people considering owning a franchise.

“Banks are much more willing to lend money to buy a franchise since they know that purchasers are moving into a proven business model and the odds on failure are nine to one against.

“NatWest/RBS have recently announced they have a £100m fund to be made available to both companies seeking to expand by franchising as well as individuals who want to become a franchise owner, and they have special departments to offer advice.”