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The Big Business of Franchising in the UK

May 25, 2018 by admin in Business, Tips

 

Franchising has become increasingly popular in the United Kingdom and many are getting involved due to the high rate of success and profit.

As a matter of fact, 97% of franchises in the UK are profitable, with a majority reaching high profitability.

This has helped franchises become a growing industry across the kingdom, as more entrepreneurs make their move to get involved.

Advantages are many, but these are of highest interest:

  • Running your own business
  • Limiting risk – most franchises are profitable
  • Many fields and industries offer a franchise model
  • Setting up a business representing an established brand, reputation and client base
  • Easier to secure funding

Where to find a franchise for sale in the UK

The best place to research franchise options is the internet.

A one-stop franchise resource is your best bet for finding an organized and concise database of franchise opportunities.

Point Franchise is one of the top franchising resources available in the UK and a great place to start: https://www.pointfranchise.co.uk/

How to pick the right franchising opportunity

There are hundreds (if not thousands) of franchising opportunities available, so you will have to be laser focused to find the right fit.

Look through the database of options and filter based on your requirements, goals and budget.

Additionally, you can look through franchising opportunities for a wide variety of industries, such as: fast food, shoe store, cosmetic, retail and car repair franchises.

Once you have picked a few finalists, research them thoroughly.

The cost of franchising

Franchise businesses require different initial investments… some could range in the low thousands while others can reach half a million pounds and more.

Well-known brands are higher up in the price range, while smaller brands will be more financially accessible but come with the disadvantage of lower brand recognition.

In addition to the initial fee, there will be significant start-up costs and recurring expenses such as:

  • Licensing fees
  • Equipment
  • Running costs
  • Rent
  • Marketing
  • Insurance
  • Staff wages, national insurance and pension payments

If you’re looking into joining the growing business of franchising in the UK, we hope that you will be a part of the 97% success rate. Good luck!