Reading Time: 3 minutesTaking the leap into buying a franchise is a huge step that offers some potentially fantastic rewards. However, to reap those promised rewards, you will need to find the right franchise at the right time, and that can be tricky.
Firstly, you need to analyse the market and work out what consumers want. Next, you need to find a franchise that can stand the test of time rather than just being a flash in the pan. When you have a franchise in mind, you need to check there is one in your area and find out if you can afford it! Rather than risking it all on an uncertainty, let us show you how to find the best franchise.
What Is Working Well?
The two key areas that seem to be weathering the economic storm well are fast food and low-cost start-ups.
Fast Food Franchises
We all want to enjoy convenience sometimes, and fast food restaurants offer a meal that is served quickly so that you can focus on everything else that you have to get done. The food is cheap and consistent across multiple locations giving customers the reassurance they need that they will enjoy eating it. This type of franchise has long been held up as the best choice because of your already developed client base and a straightforward business model.
There are many fast food franchises open to you, and your choice will come down to what is available in the location you want and whether you can afford it or not. The reality of a fast food franchise with a big name is that you are going to need a lot of money to buy into the company. If you can afford the start-up fee, you will be rewarded with a known brand that comes with a huge package of support to ensure your success.
Low Cost Franchises
Many people report that they want to get involved with a franchise but don’t have the working capital to get started. This once would have been a prohibitive factor, but many new franchisors realise the market that is open to them if they find a more flexible way of obtaining payment. Low cost franchises typically offer a franchise at a much lower price than you would expect but then take a monthly fee or larger royalty payment to recoup the money they did not get when you invested.
Getting a low cost franchise is a sure way to get into the franchising world, but it is important to do your research before signing up. Check the payment schedules and what you will be getting from the franchisor to help you become a successful business. The devil is in the detail, and it is important to read all the small print before you agree to anything. That being said, many low cost options are really great value and give you the chance to open your own business for less than you would expect.
Best Fast Food Franchises for Sale
If you are looking for the best fast food franchise in the UK, it’s best to start with the big names as they offer a comprehensive franchise package.
These companies have a long history of franchising and will offer you the opportunity to grow a successful business. Here are our top 5 picks:
Best Low Cost Franchises for Sale
When it comes to finding low cost options that can grow into profitable businesses, there are many options out there for you to view. With a low cost franchise, you will need to expect to put in a lot of hard work on your own to get results.
However, there are some great options on the market that can be turned into very profitable businesses. Here are our top 5 picks:
- Rachel’s Pet Services
- My Window Cleaner
- Razzamataz Theatre School
- Aims Accountants
- Charge Point
If you have money to spend and are looking for an investment opportunity that will pay you a decent salary each year from the start, then a fast food franchise may be the best bet for you.
Accessing a food business that already has a large customer fan base means that people will know what to expect when they walk through the doors, and this will inspire confidence that you can convert into profit. This option almost guarantees a return if you are able to put the hours into making it a success.
If a large scale operation doesn’t fit well with your life or you don’t have the cash to spend on an initial outlay, then a low-cost franchise opportunity may be the best bet for you. With less to lose financially, you are able to take a risk on a business that you may have never considered before. However, with a low-cost option, there will be a huge pressure for you to put in long hours on the product as well as marketing and liaising with customers.
Franchises can be hugely rewarding experiences, but if you are serious about investing in one, we would suggest that you spend plenty of time researching all the options available to you before you sign up for something that you may later regret.
Whichever option you go with there will be an expectation that you will bring the hard work and dedication. If you can do this, then you can look forward to enjoying running a successful business. Start your search today!