Investing in the best franchise opportunities in the UK doesn’t have to mean a hefty price tag.
In fact, you can find excellent franchise opportunities for under £10 000. You can even find really great opportunities for under £2000.
As always, different franchise networks have different benefits that make them suitable for different people. It’s not all about price.
If you’re looking for cheap franchise opportunities in the UK, there are a lot of options out there. Here are some of the most important things to bear in mind when starting your search.
Important facts when looking for low-cost franchises
1) You can find them in every industry
You can find low-cost franchise opportunities in the UK in a huge variety of industries. Fast food. Home services. Training and education. Childcare.
Having some experience or knowledge of the industry you’re going into can be a plus. But most franchisors are looking for the right type of person to become a franchisee rather than someone with specific experience.
They will often want people with an entrepreneurial mindset, who are dedicated and hard-working, and who also have the ability to follow a system that’s been proven to work.
This means you can feel free to consider all available industries and give yourself the widest array of financial options.
2) You can consult a franchise directory
A good place to start your search for the best low-cost opportunity for you is a good franchise directory.
This kind of resource can give you a solid overview of the whole field. Most directories can be organised by the scale of investment required and often by industry too, meaning you can quickly check out what’s on offer.
You can then start to reach out to the consultants you’ve chosen to work with to discuss good potential fits based on their knowledge of individual franchises and the industry as a whole.
3) Low cost doesn’t have to mean low value
Many prospective franchisees think that because they’re investing less in their franchise they have to settle for getting less from their new franchisor.
This is by no means the case. In fact, it’s not uncommon for franchisors that offer lower-cost opportunities to provide at least as much as the biggest – and most expensive – names in the business.
This is for several reasons. First of all, with the biggest-name franchises, part of what you’re paying for is the name. This can be a good thing. A famous brand can be a great driver of business.
But perhaps the key factor that drives the success of franchising as a business model is the support and training that franchisees receive from their franchisor. Many lower-cost franchises like Eye Level or Fantastic Services offer excellent support to their franchisees, especially considering they’re available for under £10 000.
Smaller franchisors are also keen to grow their networks, meaning each individual franchise location is much more valuable for the franchisor and can end up receiving comparatively more support.
4) You can talk with the experts
There are actually so many good franchise opportunities in the UK available for below £10 000 that it can be hard to choose between them.
A good place to begin your journey – and to get advice throughout the process of choosing the best opportunity for you – is to work with one of the many franchise consultants out there.
Franchise Fame, for example, is a one-stop-shop for pretty much any franchise resources you might need. You can ask questions, get advice, and know you’re getting recommendations that are balanced.
This is because the value really comes from franchisor-franchisee relationships that stand the test of time. No consultant that paired franchisors with franchisees who weren’t right for them would be able to remain a franchise marketing agency for long.
Working with a consultant lets you talk through your own skills and experience and match these with what you’re looking for from your new business. This gives you the highest chance of finding the best option for you.
5) You can get more information before you start
Every franchisor is required by law to provide certain details about their network to potential franchisees before they sign that all-important franchise agreement.
This includes key details like the profitability of the network, the number of locations, and often the kind of support they provide for their franchisees.
You should always ask for this kind of disclosure. It’s also always worth reaching out to any franchisees that are already a part of the network. They are in the best position to tell you exactly how good an opportunity is and the way they feel they’ve been treated and supported by a franchisor.
Don’t settle for less
Just because you’re investing in a lower-cost franchise doesn’t mean you need to settle for less.
Many low-cost franchise opportunities offer incredible value and unique benefits that even some of the biggest brands may not provide. There are a lot of options out there and it’s easy to get good support and knowledge to help you with the whole franchise realisation process.
Start your search today, confident that you can get all of the support a good franchisor offers without an investment in the hundreds of thousands of pounds.
Looking for the best low cost franchise opportunity for you?
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