What are the best franchises within a budget?
You may be wondering; what is the cheapest franchise you can buy, or searching for a super cheap version. Well what is the cheapest to open? It is possible to buy low cost ones under 500.
These are generally easy start up and easy versions to fit around existing commitments. The best ones to own though still offer full training and often ongoing support for the life of the agreement.
The least expensive startups can be up and running in a matter of days or weeks depending on the drive and commitment of the potential business owner.
When looking atthem, ideally this could be one where you can work from a home office environment, not only to cut down on overheads but to fit comfortably around another job or family obligations.
So, when searching for them that fit easily or seamlessly in with your lifestyle, then perhaps find an option that you already have experience in or background knowledge.
For example, a teacher could find one in education. A tax agent, real estate agent or travel agent will easily find the top 10 to buy. These administrative backgrounds are the industries where it is possible to buy into them for low minimum investment level fees.
But the cheapest franchise is all relative to the price the potential entrepreneur is willing to pay and the funds they have available. A low entry fee may have a high franchise fee and ongoing royalty fees to be paid monthly.
Probably the cheapest business is going to be one where no stock is held. More of an online service or delivery service, even a recruitment service.
These are all the questions that need answering; what is an inexpensive version to start? Which are easy ones? How about low risk types?
What available funds do you have?
Getting back to available funds, then the question what is the least expensive differs from person to person. If we are talking about those that cost £50,000 to £75,000, are we talking about that being the fee or the total cost including fit out of a store front?
The top ones will have a logo uniform and a recognizable store lay out. The great success stories and what makes easy to start options possible is the fact that the owner has already done all of the hard work and made all of the mistakes.
So to a certain extent, this security is what we are paying the franchise fee for, along with the training and ongoing support of course.
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