The costs of being a franchisee
Of course, as with anything else, the main concern when you’re thinking of looking into franchise opportunities is money.
You may have heard that franchising is a great experience, but how much does it cost to get going?
The first lot of money that you will be expected to find is to go towards a deposit. Not all franchisors charge a deposit, but if they do, it will normally be put towards finding the right property or site for your franchise.
Then come the initial franchise fees. This is only paid once the franchise has been granted. It covers initial costs such as for training, recruiting and the franchise launch.
The main one to consider is the ongoing franchise fee. This will vary and depends on how much work the franchisor has to do.
One of the final costs to consider is the advertising fee. These fees to help with costs of advertising your franchise.
These are the main costs involved in starting up a franchise so it is always worth researching these fees before you commit yourself to any franchisor.
And remember that there may be other fees to pay such as transfer fees or renewal fees; so it’s always a good idea to make yourself familiar with all these possibilities before you commit yourself to franchise opportunities.