Low cost profitable franchises
Advances in technology have made it possible to work from home without spending money on expensive offices. And the growth of the internet has meant an increase in franchises.
A low cost franchise generally falls under the £15,000 mark. Although this seems like a lot of money, it is much lower than the costs involved in buying the likes of Burger king or McDonalds.
The myth that you cannot earn big money from a low cost franchise is true in some ways. But with real hard work you can possibly get £30,000 plus per year, from a franchise costing £3,000 to £15,000.
Some low cost franchises are mere systems, where you have to contribute a few thousand pounds in somebody else’s business plan, get training and implement the plan. But you will have to ensure that it is not a multi level marketing plan since these do not always work well and you might lose the franchise fee.
As with all franchises, you must research before deciding to buy any low cost franchise. Consulting other franchisees and knowing about their experience with the franchise is absolutely essential. You will get an idea whether it is a long established company or just a fresh start up. You should look for five to eight franchises and then start short-listing for genuine franchise opportunities. After this you can do further research on short-listed companies and finally select the right one.