Retail Franchise opportunities to start in King's Lynn
Is King's Lynn a good place to be a franchisee?
King's Lynn, located in the East of England, has many opportunities for people looking to open their own business. There are several brands currently recruiting franchisees in the King's Lynn and West Norfolk area. This could mean working for yourself while receiving the comprehensive support of an established brand. By browsing the sectors that appeal to you the most, you will find the brands that best suit your interests and business goals.
Recent figures show that King's Lynn and West Norfolk has a population of 152,000 people. When broken down by age group, the 60+ age range is the most prevalent in the population. The region has an economically active population of 69,100 people, or 80.9% of the total population. The unemployment rate (3.2%) is low compared to the rest of the United Kingdom. The area's average gross annual income of £25,049 is slightly lower than the average income of just over £30,500 across the United Kingdom.
Running a High Street Shops franchise business
If you want to manage your own business in the High Street Shops sector, the good news is that there are 19 franchises currently recruiting new franchisees across the country. The High Street Shops sector is part of the Retail sector which offers a wide range of interesting options. These include three Fashion franchises, four Tool franchises, three Craft franchises, 19 Retail franchises and two Music Shop franchises. See if any catch your eye. If you are thinking about starting a business in Retail, King's Lynn and West Norfolk could be a good place to do it. Indeed, 6,000 people have already made the decision to work in this field in the King's Lynn and West Norfolk area.
Here are three examples of franchise businesses
If you'd like to run your own High Street Shops business, Mail Boxes Etc. Could be a great option for you. The brand has expanded over time and now operates in 1,600 different locations. An affordable initial investment of £60,000 will enable you to start your own Mail Boxes Etc. business. In most cases, your personal investment should represent 30 to 50% of the total amount. Mail Boxes Etc. requires you to personally invest at least £25,000. You could potentially get a loan to cover the remaining costs. Whether you're an established franchisee or a first-time investor, the low startup costs mean that this could be a good option for you. If you can't afford the startup costs on your own, you may be eligible for financial assistance.
Schmidt is another interesting brand operating in the High Street Shops sector. This business requires a significant initial investment of £350,000. If you plan on getting 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 open a Schmidt business is £80,000. 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. By investing in this franchise, you may qualify for financial support.
The High Street Shops sector has many brands worth considering. As a final example, check out Nicholas Humphreys Estate Agent. Initially established in 1999, Nicholas Humphreys Estate Agent now has over 21 years of experience under its belt. By joining its network of 28 franchisees, you could play a part in this brand's success. You will need an initial investment of £31,200 to start your own Nicholas Humphreys Estate Agent business. Your personal investment should account for at least £15,000 of the total amount. You may want to consider getting a loan to start a business in this sector. Given these low startup costs, this option could be suitable for first-time franchisees. If eligible, you might be able to benefit from financial aid. Visit our website for details.
The High Street Shops sector offers 19 franchising options. Point Franchise has 236 franchising opportunities across a wide variety of sectors. So if this sector isn't for you, there are still lots of investment options to explore.
This text was automatically generated in partnership with LabSense, using data collected from NOMIS and the ONS.
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