Nick Strong, MD - Select Your Franchise
In the light of the economic turbulence of recent years, people are taking more care over the cash they have available, and trying to make it stretch further. In spite of this, our website www.selectyourfranchise.com is as busy as ever with many people searching for a the right franchise business to bring about a change in their job direction or maybe to invest available capital into a new business venture. But how does one go about finding a franchise that’s low cost?
There are literally hundreds of franchise opportunities available in the UK and the obvious answer to what is ‘low cost’ depends entirely on the scale of capital or funding that you have available to invest. It’s also important to bear in mind that a low initial franchisee might not be the end of the story. What additional start up costs are required? What will the ongoing franchise management fees be?
The franchise fee for buying a franchise can range significantly from as little as a couple of thousand pounds up to hundreds of thousands for some top end retail type franchises.
Considering Low Cost Franchise opportunities
When considering a low cost franchise, it’s worth noting that although a low initial risk may appear an attractive option it may also be a restrictive factor. Well known and reputable franchise businesses, may command a larger initial investment partly as a result of the additional benefits that their brand presents to likely buyers. Take some of the high street fast food restuarant chains for example; part of the business benefit is instant recognition and awareness of the brand and what to expect in the way of service and quality. This benefit cannot be underestimated.
Many of the more affordable franchises, when it comes to a low investment level, are typically home based franchises. This is primarily down to the fact that expensive business premises leasing or rental is not normally required. This naturally saves greatly on overheads. In addition, a great number of these type of franchise opportunities require less than £10,000 investment fee to get started. For a variety of affordable options you might start by flicking through the low cost franchises section or work at home franchises section of some of the internet franchise directories.
