How much is the franchise sector worth?
According to the NatWest Franchising Survey 2018/19 the franchise sector is said to be worth more than £ 15 billion in the UK economy. They also say that in 2019, 97 per cent of franchisees reported profitability and this is expected to be true for 2020.
If we look at those that cost £75,000 to £100,000, this is the mid to high level entry investment fee. These businesses have very recognisable colours and branding, their staff are recognized by their uniforms and the store layout is the same from store to store all over the country.
Of course often with franchises that cost £75,000 to £100,000 we are not including the cost of sourcing the premises, securing the lease or refitting the store according to the instructions of the company owner. For this investment level we could be looking at a well-known food outlet, coffee shop, gym or van based business.
It is substantially less for one from home. For those interested in home based and low cost home based opportunities, then we could still be talking about van based businesses.
It really does keep costs and overheads down working from a home office, home business. Unless the van based business is a delivery business then there should be no storage of stock or product collection or delivery involved.
It is possible to find low cost home based options where the van is used to deliver the actual service, for example plumbing, pest control or cleaning services.9
Speaking of cleaning services, anyone with an administrative background could invest in home based types, recruiting staff and sending the trained team out on jobs, whether it be a contract for cleaning whole offices or recruiting staff for the care industry and filling the niche role of covering shifts.
A successful low cost home based business depends entirely on the recruit and how much time they have to dedicate to their new home venture. Will it be full time? Or will the business revolve part time around low cost home based opportunities until the business is up and running and making a profit?
What are the benefits of franchising?
There are many benefits of franchising and home based choices, one of them being the security that comes with knowing the brand owner has already tested and perfected the business model ready to replicate.
With the training and ongoing support that the franchisor offers, more and more business minded people are looking for opportunities and low cost home based ones to get them off the roads and into the home with more freedom and autonomy to make different lifestyle choices.
If you are considering investing in a business, take some time to deliberate the industries you are interested in. A new home business does not have to be within your existing skill set.
You might be desperate for change and choose a home offering doing something you have always been passionate about, like teaching a second language.
For those who are researching low cost home based offering, look no further than Approved Franchises. Fill in your details on the form above and use their FREE service to receive a pre-approved range of UK based franchise businesses to compare all in one place.