Franchise Opportunities For Less Than £10,000
At the recent NatWest bfa Survey there were more than 1,400 franchised brands operating in the UK. These brands are the proven business format franchises that, with hard work and the right capital to invest anyone could make money from. Many people still believe that franchising is only for those lucky enough to have a limitless bank account at their disposal. This, categorically, isn’t true.
Franchising, like many things in life, comes in all shapes and sizes. There are franchises that require millions of pounds but there are the more low-cost, lower profile franchises too.
So What Do You Get For £10,000?
Straight away you will have to be prepared to forget about all the fast-food chain franchises and most of the retail franchise opportunities. However, this does mean you can forget about all the cost associated with those types of franchises, i.e. the cost of renting or buying a property, hiring and training of staff.
Many of the franchise opportunities under £10k are either home-based or van-based, which can be particular appealing to someone who wants to be closer to their family or just to have more control of their work hours, working part-time. This does not mean it’s not hard work, but it usually allows you to spend less time commuting. This is because most franchises you buy will have defined territories in which you operate.
It’s £10,000? What’s The Catch?
Like any business or idea you invest in, you have the responsibility to ask the questions. Find out what you’re getting for your money; ask them for figures of return of investment, backed up by other franchise owners. You need to find out precisely what is included in the franchise package. Then factor in capital requirements such as a vehicle costs, insurances and marketing. This will give you your total investment.
Remember that the franchisor has to support you to give you the best possible chance of success and if they are asking for low investment levels how do they fund your support? Management service fees (MSF) – a small percentage of your turnover – usually covers the on-going support services.
So, if you’re looking for a change of career then franchising has to be a serious option. No matter the size of the capital you have, there are options in many varied sectors. Follow this link to franchises under £10k and take the first step in changing your career.