How much is the franchise sector worth?
According to the NatWest Franchising Survey 2015/16 the franchise sector is said to be worth more than £ 15 billion in the UK economy. They also say that in 2015, 97 per cent of franchisees reported profitability and this is expected to be true for 2016. If we look at franchises that cost £75,000 to £100,000, this is the mid to high level entry investment fee. These businesses have very recognisable colours and branding, their staff are recognized by their uniforms and the store layout is the same from store to store all over the country. Of course often with franchises that cost £75,000 to £100,000 we are not including the cost of sourcing the premises, securing the lease or refitting the store according to the instructions of the franchisor. For this investment level we could be looking at a well-known food outlet, coffee shop, gym or van based business.
It is substantially less for a franchise from home. For those interested in home based franchises and low cost home based franchise opportunities then we could still be talking about van based businesses. It really does keep costs and overheads down working from a home office, home business franchise. Unless the van based business is a delivery business then there should be no storage of stock or product collection or delivery involved. It is possible to find low cost home based franchises where the van is used to deliver the actual service, for example plumbing, pest control or cleaning services.
Speaking of cleaning services, anyone with an administrative background could invest in home based franchise opportunities, recruiting staff and sending the trained team out on jobs, whether it be a contract for cleaning whole offices or recruiting staff for the care industry and filling the niche role of covering shifts. A successful franchise low cost home based business depends entirely on the franchisee and how much time they have to dedicate to their new home franchise business. Will it be full time? Or will the business revolve part time around low cost home based franchise opportunities until the business is up and running and making a profit?
What are the benefits of franchising?
There are many benefits of franchising and home based franchises, one of them being the security that comes with knowing the franchisor has already tested and perfected the business model ready to replicate. With the training and ongoing support that the franchisor offers, more and more business minded people are looking for home based franchise opportunities and low cost home based franchises to get them off the roads and into the home with more freedom and autonomy to make different lifestyle choices. Have you considered a maintenance franchise or a legal services or will writing franchise?
If you are considering investing in a franchise low cost home based business, take some time to deliberate the industries you are interested in. A new home business franchise does not have to be within your existing skill set. You might be desperate for change and choose a home franchise doing something you have always been passionate about, like teaching a second language. For those who are researching low cost home based franchise opportunities, look no further than Approved Franchises. Fill in your details on the form above and use their FREE service to receive a pre-approved range of UK based franchise businesses to compare all in one place.