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Many people dream of starting up their very own business, but are prevented from doing so by constraints on their finances, or uncertainty around exactly how much upfront investment will be required. Starting a business can be expensive and time consuming, many entrepreneurs will have a budget to start a new business. One way to help find the right business opportunity is to look at those within your current budget. If you are looking for an affordable way to start your own business, our selection of franchises under £40,000 offer you a great opportunity to make great returns on your initial investment.
In the UK, the average start-up spends over £22,756 in its first year, not including costs for items such as product development, advertising or buying stock. Indeed, one of the most worrying areas for those wishing to start their own business is the uncertainty around how much work and money is required to get an established audience to find your product or service.
By investing in a ready to run franchise opportunity, you can get off the ground at a fraction of the cost. You are becoming part of an already established business which in many cases already has great brand awareness, an established business model, and best of all, a supportive team behind you.
Franchise local offer a range of low cost franchise opportunities for entrepreneurs like you to browse through and discover today.
Put simply, the amount you can make with a franchise will very much depend on you! Just like any other business, the sky can be the limit if you are willing to work not just hard, but smart. However, unlike when you start up on your own, you are not alone. You will have the backing of a company that has already worked out the tougher parts for you.
With many of our franchise opportunities, that start at less than forty thousand pounds, you can be expected to make back your initial investment.
Running a franchise involves investment of money and time to help get the new business kick started. Depending on the franchise opportunity and its model, the costs may apply for varying reasons. Examples of how your money will be used when starting a franchise include:
When a brand franchises, the business (known as the franchiser) often charges an initial buy-in fee that the franchisee must pay when signing the franchise contract. This fee will vary depending on the brand. Generally, the higher brand recognition and larger customer base, the higher the fee. However, specialist industries can also have a more costly buy-in fee.
When opening a franchise, there will be start-up costs involved like with any business. This includes staff wages, recruitment, uniform, equipment, and training. Therefore, this should be included within your budget and financial planning for opening a franchise.
Marketing expenses can be defined as the costs incurred in promoting your business to your target audience. Traditional marketing includes the printing of posters, designing brochures, and more. However, digital marketing is now constantly in demand with the number of potential customers seeking support or products online due to the convenience and options available on the web! When starting a franchise, you will need to market your new business and should budget this into your investment and start up costs.
Franchise Local list a wide range of franchise opportunities that start at less than £40,000. From printing companies to pet food delivery services, there is bound to be something that suits you.
If you are looking for a business that fits in with your lifestyle, why not consider a part-time franchise. If you have a specialism from your current job, there are opportunities to use this, such as giving business advice, or home tutoring.
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