There comes a point in life when one just doesn’t want to work for someone else anymore and rather wants to do something on their own. However, starting up your own business is not always possible but one can always think about buying a franchise if they have a limited budget.
Why is buying a franchise the best choice? In cases when you cannot open up a business because it requires a lot of capital, opening a franchise is the best option. Firstly, an entrepreneur doesn’t always have much experience of handling business solely on their own, thus by buying a franchise, they can be independent but also have the guidance of the franchisor because they obviously have much more abundant business managing experience and can help you out with all the problems you face.
Apart from the fact that they are affordable, low cost franchises are also overall more sustainable and there is less need for the owner to require any debt or loan in the future for financing the franchise. Low budget franchises are also a little small scale so they require less effort from the owner in managing the business and gives them the opportunity to have more free time.
However, low cost franchises sure have competitive start up environment compared to that of the businesses that are larger or one can say ‘top-notch’.
The thing with franchises is that you do not require much initial investment. Be it a part-time franchise or a van-based franchise and especially home-based franchises, they require the least amount of investment because you are basically just working from home.
If you are looking for low budget franchises, you can start with a home-based franchise. Home-based franchise model is basically when you work from home and work online. They are categorized as low budget because, firstly, they do not require any premises for your office, one can just sit at home and perhaps operate from their lounge.
Working from home has really gained popularity in the UK over the past few years. The Office of National Statistics released data that shows that the number of people that have shifted to home based work has increased to a quarter a million over the past ten years and it is continuing to increase.
Furthermore, one can also opt for a van-based franchise. Van-based franchises are quite literally businesses that require you to own a van and go around providing your services for e.g. cleaning services, or coffee franchises. These franchises may require a little more investment than home-based ones because you might have to buy a van if you don’t already own one. And initially one can work with just a limited amount of vehicles or maybe just even one but later when the business starts to become successful, one can expand and buy more vehicles and hire staff accordingly.
Lastly, one can also opt for part-time franchises. Full-time franchises are not for everyone and if one wants to do something on their own, they can always go for part-time franchises. The great thing with part time franchises is that one can really enjoy the flexibility it has to offer, like the working hours. They require one to work from home which means you can choose your own working hours and it obviously doesn’t require that much of capital at all.
Franchise UK provides many low cost franchise opportunities, from Techclean to Verismart Franchise to BOX property solution franchise, there are many to choose from. Franchise UK will help you find your best match and connect you to them as Franchise UK connects many franchisors with suitable franchisees all the time and also offers franchise consultant services to facilitate its clients.