Many franchises are very expensive and out of the realm of possibility for many people. Franchises costing £50k or more are not unusual by any means. However, for most people starting a business for the first time, sums of money like this are well beyond their reach.

So do cheap franchises exist? Are you on your own if you want to start up a low cost business on a shoe string budget?

The truth is that all franchises will cost you a certain amount of money. You have to be prepared to pay this out if you want a business with a well thought out and developed business model.

Franchises have their pros and cons but you also need to be sure about your reasons for buying into one. A proportion of the money involved buys you the right to use the name associated with the franchise. You’ll also get a lot of back up and support as well, so bear this in mind when you are looking at the cost.

But let’s get back to the subject of cheap franchises and whether they exist. A search on a website recently for the purposes of researching this article found that the lowest amount you could search for was ‘below £15,000’. The upper limit on franchises was above £75000 so you can see there is a huge difference between the two.

Most notably there are franchises that enable you to work at home which means that you can forget about the need for premises. Internet franchises are also available and it is these kinds of categories that usually will provide cheaper opportunities for bargain hunters. A price of £10,000 for an internet franchise is certainly a lot more affordable than one for £70,000 plus and a home run business usually has much lower setup costs and ongoing overheads.

But don’t be fooled into thinking all cheaper franchises are easier to handle and work with. All businesses involve a degree of hard work and commitment. You might also find you do not have as much freedom to work with a franchise as you have managing your own business. You cannot dictate how developments progress in quite the same way, so you need to consider all your options before choosing your ideal franchise.

Never buy an affordable franchise just because of its price tag. Only ever choose a business opportunity that makes sense and you can see why and how it would make money. Interrogate the franchisor and be prepared to walk if you do not get the right answers to all your questions.

Not everyone is suited to franchises. Some people might find it hard to work within the rigid outlines of a franchise. You might prefer to have a much freer handle on how the business operates and grows. You might not like the idea of having to prepare monthly, quarterly and annual reports.

It’s good to know that some cheap franchises do exist. Don’t assume you have found the ideal opportunity just because you’ve tripped over a low cost franchise that suits your pocket. Instead, do your research and find a business opportunity that has a USP (unique selling point) which makes it powerful and full of potential. Sometimes a low cost franchise might have more potential than one costing double or even triple the price!

Author Bio: Naz Daud – CityLocal Directory UK Franchise Directory Cheap Franchises UK Franchise Opportunity

Category: Business
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