Are you looking for a new challenge or a new way to invest your money?
2016 is the time to become your own boss by taking on a franchise.
Franchising is a way for ‘franchisors’ (brand owners to grow by selling the use of their brand) to ‘franchisees’ (brand buyers) who want to run their own business.
Franchisors provide initial training and ongoing support to their franchisees and research shows that over 90% franchises report profitability.1 There are hundreds of franchises suiting a range of different lifestyle choices with both full time and part time business opportunities available.
Choose a franchise
When selecting a franchise it is important to consider the following:
- Budget: How much will the franchise cost to buy, run and grow?
- Passion: Does the industry genuinely interest you?
- Skills: Are your existing skills transferable to the chosen industry?
- Market: Are the franchises in that industry showing signs of growth?
- Lifestyle: Will this franchise suit your current lifestyle?
Financing the franchise
All franchises require an initial investment to buy into their business model. If you’re looking to fund a franchise then have you considered the following:
- Apply for a loan from the bank
- Applying for a government grant
- Evaluated your financial situation
The following infographic provides more insights and information, stripping franchising back to its basics:
Ready to find the right franchise for you? Choose from hundreds of franchises on offer with Reed Commercial now.
1 Natwest/BFA survey 2015Tags: 2016, choose a franchise