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Table of Contents - Low-cost Franchising and Entrepreneurs - Kiosk Franchises - Online Franchises - Handyman Franchises - In Conclusion |
Why is Franchising is A Low Cost Option for Entrepreneurs?
Stepping into the world of self-employment for the very first time is daunting prospect for anyone of any age or background.
For the first time in your career, you are fully on your own and are solely responsible for the success of your ventures.
Aside from the hard work you need to undertake to make your business a success, you also must shoulder the financial burden of running a business on your own.
With franchising however, a lot of what makes starting your own enterprise a daunting prospect is does not come into play as a franchise owner.
While the immediate benefits of having advice and guidance from the parent franchise and dedicated training, one of the key attractions to franchising for most entrepreneurs is the reasonable capital investment and potential financial support.
More established franchises can provide some initial financial support to get your started. Some of these brands will provide this either through a third-party (a bank or other financial lenders) or directly themselves.
This eases the pressure on the potential franchisor as they ultimately may not be required to pay the full franchise investment but just a smaller franchise fee.
3 Low-Cost Franchise Industries for Entrepreneurs
Yes, certain franchise investments can require a large personal investment, this isn’t the case for all franchise industries.
We take a look at three of best franchise industries that have opportunities for Under 10K.
1: Kiosk Franchises
A kiosk franchise is an obvious choice for a low-cost investment as they do not require the same costs as a full retail store front or restaurants.
Equally, with a kiosk franchise, you are not tied to a specific location like a store front outfit. The flexibility to move to different locations if needed is also a huge plus. This means you have the potential to avoid areas with higher rent.
Popular kiosk franchises aren’t limited to one specific industry as they can range across the spectrum including:
- Coffee kiosks
- Fast food kiosks
- Snack kiosks
- Technology/Smart Kiosks
This means you don’t have to limit yourself to one type of kiosk – you have multiple options!
2: Online Franchises
The beauty of an online franchise is that you can keep your overheads relatively low as you don’t require a physical office if you don’t not wish. This is the joy of remote work!
You and your staff have the ability work from home from anywhere in the world, so the majority of online andinternet-based franchise opportunities are generally around 10K and under.
Hottest Online Businesses Franchises
SmartPA
Start a business providing virtual assistance for the public and corporate sectors.
What's On In Franchise
Run a home-based franchise and generate a significant monthly income with Whats On In! FULL training included.
With so many advancements in the online sphere due to AI, there is ample opportunity to invest in a game-changing online business.
3: Handyman Franchises (And Van-Based Franchises)
Handyman franchises can be anything from locksmith franchises, gardening franchises, plumbing franchises, maintenance and repair franchises so there are huge scope and demand for these services across the UK, regardless of the economic state of the country.
Hottest Handyman Franchise Opportunities Franchises
Refresh Renovations
Join Refresh Renovations and help to deliver dream renovations to clients!
Dream Doors
Dream Doors is the UK's #1 kitchen makeover brand with 100 franchises nationwide.
This also means that the investment level for these is reasonable as there are huge number of these franchises already in operation.
Additionally, a lot of these franchises can be van-based, meaning that you can run the business from there or from the comfort of your own home, once again removing the need for the setup of head office.
In Conclusion
In conclusion, franchising stands out as a genuinely low-cost option for entrepreneurs primarily because it significantly eases the initial financial and logistical burdens associated with starting an independent business.
These highly flexible models allow first-time investors to avoid the typically high costs of traditional retail storefronts or dedicated office spaces, thus providing a more accessible path to self-employment with numerous franchise opportunities available for under £10,000.
Check out Franchise Direct's list of low-cost franchise opportunities and get started on the path to entrepreneurship today!