Set up costs
When considering investing in a franchise business and looking specifically at high cost franchises, it is not always the entry level or minimum investment that makes them expensive franchises but the set up costs. The franchise fee when looking let’s say at franchises under 100k offer an enormous amount of training and guidance and a franchise manual to work from and refer to, often a team of experts to get the business up and running and ongoing support. Often there is a head office with staff trained to answer any questions. The franchisor may have a list of other franchisees that are accessible for testimonials and advice.
Whether looking at franchises under 100k or the best franchises over 100k, high cost franchises need a certain amount of liquid capital not to mention usually a loan for fitting out premises in a prime location with all the well-known logos and set up as per all the other franchises around the country. What makes these worldwide, recognisable names expensive franchises is the fact that they very rarely fail. These high visibility high cost franchises usually service a specific demographic and are located accordingly. The franchisor wants every outlet to be a success as much as the new franchisee does therefore the help and support is invaluable. The entry level or minimum investment level may indeed be franchises under 100k, but we have to consider all the other costs from initial purchase to grand opening. Often these big boys, the best franchises over 100k will have finance options available. Of course banks are far more willing to loan to expensive franchises or indeed franchises under 100k as there is a far higher success rate for a franchise to still be in business after five years than a stand-alone independent business. Considered franchises that cost more than £100,000 in Southampton or franchises that cost more than £100,000 in Cambridge?
Carry out your due-diligence
Do your research and see what is missing from your local area. Are there the perfect premises available in the local shopping centre for one of the high cost franchises? Maybe a healthy take away sandwich shop or an eat-in noodle bar. How about an easy access main road location for a drive through food outlet or a tyre or auto services outlet? You may be looking for pest control or health or fitness franchises under 100k or the best franchise over 100k for drive through burgers or pizza delivery. Or something completely different like a playground or children’s nursery franchise!
To make a wise investment decision, choose a franchise that fits within your interests or wish list if not your background experience. The franchisor is often happy to take on a franchisee from outside of the industry as long as that person is passionate and committed to the business and has the £100,000 or so available to invest. Between the team of experts and the comprehensive training manual, everything will be covered from back of house admin to training the staff. Take a minute now to enter your details at the top of the page and receive no obligation expert advice from Approved Franchises. Here you will find a comparison of franchises pre-approved using the Approved Franchises Code of Conduct who offers full training and support and a proven business model that can be replicated. Let Approved Franchises connect you to the highest quality of franchise companies that best suit your requirements.