The British Franchise Association (bfa) has revealed five new categories for its popular Franchisee of the Year award ceremony, startup.co.uk reports.

The 24th annual gala, which celebrates drive, determination and success stories from among those working in franchise services, will be held in October.

Five new categories have been introduced into the programme, for which nominations are actively being sought. These include Female Franchisee of the Year, the Micro-business Franchisee Award and the Customer Services Franchisee Award.

There will also be a prize for long-service, recognising those that have been in operation for over ten years. Lastly, those aged 30 and under can be acknowledged in the Young Franchisee of the Year Award.

Each of the winners will receive £1,000 and a trophy, courtesy of sponsor, HSBC. From them, the winner of the overall – much coveted – bfa HSBC Franchisee of the Year will be chosen. This recipient will win £5,000.

Speaking about the gala, HSBC’s head of franchising, Cathryn Hayes said: “Each year we are captivated by the sheer passion and drive of the UK’s franchisees – they produce extraordinary results for their businesses.”

Nominations need to be received by 12 July.

Meanwhile the bfa has confirmed that this year’s Franchisor of the Year Awards event will take place in London on 4 July, thefranchisemagazine.net reports.