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Date Updated: 09-December-2019
Low Cost franchises
About Low Cost franchises
Despite the many advantages franchising offers, one of the drawbacks for some can be the perceived high costs of buying a franchise. This however is not the case, as there are many low cost franchises available to buy, including franchises under £10K.
Whilst many seek to find cheap franchises, it is not a term we like to use at whichfranchise. “Cheap franchises” has connotations a bargain or of poorer quality. You should not be tempted by cost alone, you need to remember that the cost of franchise is determined by a number of factors e.g. how long the franchise has been established, how profitable the company is, the size of the network, brand awareness, training and support offered etc.
A franchise that is run from home will also be more affordable that one that requires retail premises or an office for a number of staff. Most low cost franchises will also be operated on a single-operator basis and tend not to require the recruitment of staff. Though there may be opportunities to develop what was initially a low cost franchise run as an owner operator business, into a management business; as your business becomes more established and successful, you are able to expand into additional territories or recruit staff and move into a management role. So, what was once a low cost franchise could be turned into a highly profitable business opportunity.
Low cost franchises cover a wide spectrum of industries including cleaning, car valeting, children’s services, IT, financial franchises, pet services, delivery franchises to name a few.