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FOR SOME of the newly unemployed, escaping the corporate rat race and setting up on their own seems a tempting proposition. Yet starting up an entirely new business can be a daunting affair, leading many to consider the franchise of an established brand. While all businesses are suffering in the current environment, some franchises, such as McDonald’s, which is adding three new restaurants to its Irish chain this year, are still going strong, writes FIONA REDDAN

Franchises have boomed over the past decade, with latest figures indicating that turnover is in excess of €2 billion, with more than 270 franchises employing in excess of 25,000 people. Indeed, everywhere you go in Ireland, new outlets of the same brands are popping up.