Let’s talk about the best part time business ideas and part time business ideas with low investment, less than £15,000. Also let’s look at the advantages and disadvantages of a part time franchise. We will also touch on the fees and royalties involved with part time one.
Franchises are increasingly popular
The franchise business is a growing industry and interest in getting involved in anything from running a food or coffee franchise to part time home business opportunities is on the up.
So probably one of the biggest advantages of running a part time franchise or a home based part time business is that it is possible to own a small independent business with all the benefits of having a big business name behind it.
The logos and advertising slogans are already well-known brands, so, there is already existing customer awareness for that product or service. This means a franchise could have a better advertising space due to bigger spending power of the brand name as a whole.
Support provided
The recruit would receive all the guidance and operation manuals necessary to start out their own independent outlet. With the knowledge and background of the company owner, the systems are already in place for running anything from a small accountancy part time home-based franchise, to sports or home care franchises.
The owner will offer ongoing support and mentoring thus ensuring the success of the business. After all, one recruit could spoil the reputation for all franchisees.
With part time small business opportunities there may not be any need to train a team of staff, so often the training would be online with an occasional onsite visit if necessary.
Whereas, the franchisor would likely come onsite to train a team of staff in all the procedures and regulations for running an outlet in accordance with the guidelines set out. Then come back to assist with the grand opening!
So what happens after you have searched for part time small business opportunities, and then found the best part time business or franchise for you, and the franchise is up and running smoothly. Here is where a disadvantage might be found.
Franchisees are not completely independent. The restrictions and guidelines of the agreement signed with the brand owner will still have to be followed and maintained. The contract would have stipulated an area or territory, a logo or uniform, a product price and so forth.
No new business venture comes cheap. It will take much thought and deliberation as it is a big commitment. Finding a part time business with low investment is not the difficult part.
The purchase of a franchise will entail signing a contract and paying a fee. These fees are not always unreasonable. Be aware though, that there is often an ongoing monthly fee for royalties and advertising commitments taken from any profits from the business.
Take a moment to enter your details on the form above and compare a range of UK based companies. Approved Franchises will offer expert advice and help narrow down the search to finding the best one for you.