Invest In A Franchise For Less Than £20,000
With more and more people looking at franchising as a new source of income, due to redundancy or career changes but lacking the start-up capital required for most, there has been a marked rise in franchises under £20,000 becoming increasingly optioned.
With long-term job security being one of the top concerns for the majority of the UK work force, taking a step towards becoming your own boss and investing not only in a proven business model, but also in your own ability and aptitude, has become a reality for those who want to ensure that they have a comfortable style of living and then a peaceful retirement.
For others who have had the misfortune being made redundant from a job after many years of loyal service, franchising offers a way for them to make a fresh start. With companies offering a redundancy pay out to employees, although often much less than a year's wages, this can actually help set you up on a path you may not thought to have taken due to various reason.
The majority of people who have been made redundant will not immediately think of re-investing that money into a franchise, but concentrate on the short-term of finding a new job and using the money to pay for day-to-day bills. While this makes perfect sense, with the markets always in a state of transition and with more and more job seekers applying for roles, that money can soon run out with no income to replenish it.
Franchises that are less than £20,000 to buy normally come with smaller or reduced overheads and business running costs, but this does not convert to smaller territories or reduced profits. In fact, smaller capital investment franchises are springing up across the country due to the very fact they are cost effective and easier to manage on a day-by-day basis.
Many of the low cost franchises work around a degree of flexibility for the owners, with the standard 9-5 working pattern not being as applicable. Van-based and home service franchises can be run on a part-time basis and some do not require the owner to be constantly available in one set location, i.e. a town centre, but covering a more generally defined area.
With growing demand for niche market services, such as oven cleaning, low cost start-up franchises are only set to become more prominent in the UK, which is good news for potential franchise owners out there looking to venture into the sector.