Restaurant Franchise opportunities to start in Paignton
What to know before starting a franchise in Paignton
Franchising is a great way to start your own business, while benefitting from the comprehensive support of an established brand. Check out our selection of brands in Paignton, located in the Torbay area in South West England, where many businesses are currently recruiting. If you already know which line of work you'd like to pursue, explore our franchise options in that sector. If not, have a browse and see what other options catch your eye. We have brands to suit all kinds of interests and career goals.
According to recent census data, 136,000 people live in Torbay. When broken down by age range, 60+ year olds represent the largest portion of the population. The area has 59,400 economically active people, representing 78.1% of the population, with an unemployment rate of 4.1%. This rate is in line with the country's 4% national average. With an average gross annual income of £23,343, salaries in Torbay are lower than the average salary of close to £31,000 across the UK.
The Casual Dining sector: An interesting opportunity for franchisees
Are you interested in the Casual Dining sector? You're likely to find a franchise worth considering among 15 brands across the country. The Casual Dining sector is part of the Restaurant industry which offers a wide selection of interesting options. These include three Pub & Bar franchises, two Chicken franchises, two Bubble Tea franchises, two Food Truck franchises and four Pizza franchises. See if any catch your eye. In Torbay, there are currently 8,000 people employed in the Hospitality and Food Services industry, so you would be joining an established business community.
Here are three examples of franchise businesses
If you plan to invest in a Casual Dining business, you could consider Shoryu Ramen. By joining its current 13 franchisees, you would become a part of a growing brand network. To open your own Shoryu Ramen franchise, you will need to invest £400,000, of which at least £200,000 should be your own personal investment. You could apply for a loan to help cover the remaining startup costs. Given these higher startup costs, this opportunity is less suitable for first-time franchisees. You will also need to invest in a small premises to operate this business. When investing in this franchise, you could be eligible for financial aid.
Another interesting franchise option is Bella Italia. The brand is growing, with 100 outlets currently in operation, and a desire to expand further. You will need to invest £700,000 to open your own Bella Italia business. At least £350,000 of this significant amount should come from your own personal investment. Due to the higher startup costs, this option is not recommended for first-time franchisees. A large premises will also be required to operate this business. If you can't afford the startup costs on your own, you may qualify for financial assistance.
Finally, another opportunity worth considering is Wolf. By joining its four franchises already in operation, you could contribute to this company's expansion. This business opportunity requires a significant initial investment of £200,000. You could get a loan to help cover startup costs, in which case your personal investment will generally need to cover 30 to 50% of the total investment. Wolf requires a minimum personal investment of £100,000. Given these higher startup costs, this is an opportunity best suited for most established franchisees with greater access to financial resources. A large premises will also be required to operate this business. If you can't cover the startup costs on your own, you could find out if you qualify for financial aid. See our website for details.
If you would like to work in the Casual Dining sector, the perfect investment opportunity could be waiting for you among our 15 available franchises in the sector. At Point Franchise, we have almost 250 new business investment opportunities available, giving you plenty to choose from in other sectors as well.
This text was automatically generated in partnership with LabSense, using data collected from NOMIS and the ONS.