Restaurant Franchise opportunities to start in Lowestoft
Investing in Lowestoft could be your next move
If you want to start your own business, you may find that Lowestoft has a lot to offer. Many companies are currently looking for franchisees in the Suffolk area. Keep reading to see if running a franchise could be a good option for you! By browsing the sectors that appeal to you the most, you will find the franchises that best suit your interests and career goals.
There are 759,000 people living in the Suffolk region. The majority of residents are aged over 60 years old. The 2.4% unemployment rate among the 350,800 economically active people in the area is significantly lower than the national average. Residents in the area earn £29,129 per year on average. This income is in line with the country's average gross salary, which reaches £30,629.
Why the Casual Dining sector might be a good option for you
If you want to run your own business in the Casual Dining sector, the good news is that there are 15 franchises currently recruiting new franchisees across the country. Numerous brands offer franchise opportunities in other sectors within the Restaurant industry. For instance, there are two Food Truck franchises, four Pizza franchises, two Bubble Tea franchises, two Burger franchises and three Pub & Bar franchises. You'll find options to suit many different career objectives and aspirations. In the Suffolk area, the Hospitality and Food Services industry provides employment for 24,000 people.
Read about these three brands to see what franchise opportunities exist
If you're interested in the Casual Dining sector, have a look at Shoryu Ramen. This brand is growing, counting 13 outlets in the United Kingdom. Opening a Shoryu Ramen franchise will require you to invest a minimum of £400,000. At least £200,000 of this should come from your own personal investment. Due to the higher startup costs, this option is not recommended for first-time franchisees. A small premises will also be required to operate this business. When investing in this franchise, you could be eligible for financial aid.
Another brand worth considering is Las Iguanas. The brand is expanding, with 55 locations currently in operation, and a desire to expand further. A substantial initial investment of £700,000 will enable you to open your own Las Iguanas business. In most cases, your personal investment should represent 30 to 50% of the total amount. Las Iguanas requires you to personally invest at least £350,000. You could potentially apply for a loan to cover the remaining costs. 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. You may qualify for financial assistance.
Finally, Wolf is another successful business operating in the Casual Dining sector. By joining its four franchises already in operation, you could contribute to this brand's expansion. This business requires a significant initial investment of £200,000. If you intend to get a loan to cover startup costs, you should anticipate adding a personal investment of 30 to 50% of the total investment as a general rule. The minimal personal investment to start a Wolf business is £100,000. Given these higher startup costs, this is an opportunity best suited for most established franchisees with greater access to financial resources. You will also need to invest in a large premises to operate this business. Also, if you can't afford the startup costs on your own, you may qualify for financial support. See our website for more information.
If you are interested in the Casual Dining sector and would like to discover more franchising options, take a look at the 15 brands available in this sector. Point Franchise has almost 250 franchising opportunities across a wide range of sectors. So if this sector isn't for you, there are still lots of investment options to explore.
This page contains machine-generated content provided by LabSense, using data collected from NOMIS and the ONS.