Run your own business for a low fee with a franchise
What are the benefits of buying a low-cost franchise? The answer to this question depends on what your goals are, as well as your situation. If you want to be in business for yourself but don’t want to risk everything, buying a low-cost franchise can help you get started with far less initial investment than creating your own business from scratch would require. You might not realize it, but there are hundreds of franchises out there that are ideal for first-time entrepreneurs like you, and many of them can be bought for less than £30,000.
The basics of buying a franchise with a low startup fee
Buying a low-cost franchise is one of many ways to start your own business. A low-cost franchise can help you run your business for a low fee in exchange for operating within certain guidelines and using certain branding that is established by a larger, more experienced business. This can help you get off to a running start by giving you an established brand, training materials, and systems that have already been tested.
Reasons to buy a low-cost franchise
In most cases, the cost of buying a low-cost franchise ranges from £1,000 to £30,000. While that might seem like a lot at first glance, you’ll have to spend more than that when you open a traditional startup on your own. You’ll be responsible for finding and outfitting a location, purchasing equipment and supplies (from an array of different suppliers), hiring employees and contractors, and managing day-to-day operations. Low-cost franchises provide these services and more in return for a small fee. Below we list the 3 reasons why you should consider investing in a low-cost franchise.
1) Lower startup fees
Getting started with an independent business is a lot of work, especially if you’re setting up from scratch. However, buying into a low-cost franchise has some obvious advantages—namely that someone else has done all of that hard work for you. The startup fees are also lower than starting an independent venture, so it’s less risky to buy into something already proven to be successful. You can opt to buy into just one location, or buy multiple locations within one state or region—there are pros and cons to both options. Whichever way you choose to go, it’s worth doing research into what other franchisees have said about their experiences running their particular low-cost franchise businesses before committing any money.
2) More freedom
Buying a low-cost franchise is an option that gives you more freedom than an independent business. With a low-cost franchise business, you don’t have to worry about all of the minutiae of business operations such as accounting and tax forms; that is handled by someone else who has experience doing it. You will even pay a low upfront fee to become part of a franchise program, meaning that when combined with other costs in running a business (like worker’s comp and liability insurance), you could be on an extremely tight budget compared to just starting out on your own.
3) Faster return on investment (ROI)
While buying a franchised business can be cheaper than starting a business from scratch, you should still budget for expenses like legal fees and rent. When it comes to buying a low-cost franchise, you should expect to pay between £1,000 and £30,000 for entry into an existing system. When you buy a local or regional brand-building company, however, you’ll see faster return on investment because you’ll get help advertising your franchise business for free in exchange for your franchise royalty fee.
How do I find a low-cost franchise?
Buying a low-cost franchise can be a great way to start a business for a low fee. One thing to remember though is that many of these franchise fees are non-negotiable. However, the cost of a franchise should never be something that stops you from following your dreams; there are plenty of cheap franchises out there if you know where to look. We recommend browsing our franchise directory to find a list of the best low-cost franchises for sale. This way you can find hundreds of different low-cost franchises to choose the perfect low-cost franchise opportunity for you.
What low-cost franchise would be right for me?
If you have been thinking about buying a low-cost franchise for some time, you should know that there are hundreds of franchises with low startup fees available in almost every industry imaginable. While each type of franchise will vary significantly in price and potential earnings, it is important to remember that not all franchises are created equal. An overpriced or poor-quality product will typically not be successful no matter what kind of advertising is involved, so picking an affordable business opportunity that suits your skillset can help increase your chances of success.
What types of franchises for low startup fees are available?
There are hundreds of different low-cost franchise opportunities available that require only a few thousand pounds to start up and run. Some of these low-cost franchise businesses require less than £10,000 in startup fees while others can be started for as little as £1,000. The great thing about low-cost franchises is they already have proven formulas and resources in place; you simply buy into their expertise so you know you’re doing things right from day one. If you buy into an existing franchise, most of these companies will provide extensive training materials or offer management support through phone calls or visits from other franchisees in the same field.
Browse the best cheap franchise opportunities at Franchise UK
If you’re looking to run a business without committing a lot of money, a low-cost franchise might be right for you. Browse our list of cheap franchises for sale and start running your own franchise business as soon as possible! No matter what line of work you go into, owning a franchise can help you succeed as you are investing into a proven system as franchises are known to have a much higher success rate than other business investments.