Investing in an Affordable Franchise
Though franchises from large, international brands can be expensive with price tags reaching into six figures, there are a lot of options out there for entrepreneurs that want the chance to build a successful business but that doesn’t have the financial backing to buy into a well known chain.
Instead of commercial premises, warehouses and large numbers of staff, all some franchises need to get going is a bit of creativity, and a bit of good old fashion hard work. Though most franchises require a financial investment of some sort, this isn’t always substantial and can often be achieved through loans from friends, family or the bank.
If you’re thinking about buying a low-cost franchise and aren’t sure where to start, here are a few ideas for affordable entrepreneurial options.
Home based franchises
One of the most expensive aspects of buying a new franchise is investing in business premises. Whether it’s a shop, a restaurant or a fast food outlet, acquiring the commercial premises for a business is never cheap.
To avoid this expense and make your franchise even more affordable, look out for a business that you can run from home. Removing the cost of a business premises from the equation entirely, running a business from home will give you the financial freedom you need to make your entrepreneurial dreams a reality.
There are various businesses that can be based at home. From cleaning franchises to business consulting and care services to landscape gardening, you can use your home as a base for a range of exciting and lucrative franchises.
Though some businesses will require you to invest in equipment which will then need to be stored in a shed or garage, these home based options make the cheapest franchises and often involve the lowest risk.
Part time franchises
Part time franchises are often more affordable than businesses that require you to work full time. By investing in a part time franchise not only can you make your career move easier on your finances, but you can also dedicate your spare time to working on your marketing and building your brand.
Exercise classes, dance classes, after school clubs and pet care are all good examples of franchises that can be part time. As you become more confident in your new business and build up your income stream, you can invest more time into your franchise and go full time if and when you want to – after all you’re your own boss now!
Making a franchise fit around your lifestyle
Working from home, working part-time and basing your business at your residential address are all good ways to make investing in a franchise more affordable, they are also perfect for entrepreneurs that want to make their new career fit around their lifestyle and existing commitments.
Buying a low cost franchise can give you the flexibility that you need to make your career work for you. From boosting your finances to giving you more free time to spend with friends and family, a cheap franchise can transform the quality of your life and give you the confidence and the tools you need to succeed.