Restaurant, Coffee Shop & Pub Franchise opportunities to start in Morecambe
What can Morecambe offer to new businesses?
Morecambe, located in the North West of England, currently offers many franchising opportunities. As a franchisee, you could manage your own business while receiving expert training and support from an established brand. Keep reading to explore the options in the Lancaster area. To begin, look for the line of work that appeals to you the most. This is a quick way to find the brand best suited to you.
There are 144,000 people living in the Lancaster area. The population's most prevalent age group is made up of 20-39 year olds. The local unemployment rate of 4.7% among 62,900 economically active people, or 69.5% of the population, is slightly higher than the average in the UK. Lancaster has an average annual salary of £27,639. This salary is slightly lower than the rest of the UK, which has an average income of close to £31,000.
Does the Restaurant sector appeal to you?
In the UK, you will find 88 franchises recruiting in the Restaurant sector. This sector offers a number of interesting options, including four Pizza franchises, four Halal franchises, 14 Takeaway franchises, nine Coffee, Cafe & Coffee Shop franchises and two Bubble Tea franchises. See if any catch your eye. Hospitality and Food Services is a well-established industry, providing employment for 4,500 people in Lancaster alone.
Read about these three brands to see what franchise options exist
The Restaurant sector has many franchise opportunities available, such as Esquires Coffee, which was first established in 2000. The company is now mature and a leader within the sector, having grown its franchise network for 20 years. The brand's network is made up of 103 franchisees, which enhance its exposure. A significant initial investment of £225,000 will enable you to open your own Esquires Coffee business. In most cases, your personal investment should represent 30 to 50% of the total amount. Esquires Coffee requires you to personally invest at least £85,000. You could potentially get a loan to cover the remaining costs. Given these higher startup costs, this opportunity is less suitable for first-time franchisees. By investing in this established brand, you could qualify for financial assistance.
Another interesting franchise option is Wok&Go. By joining its network of 26 franchisees, you could play a part in this brand's success. You will need to invest £200,000 to start your own Wok&Go business. At least £100,000 of this substantial amount should come from your own personal investment. The higher startup costs make this 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.
Lastly, if the Restaurant industry appeals to you, Las Iguanas is another option you could consider. By joining its 55 franchises already in operation, you could contribute to this company's expansion. To start your business, you will need an initial investment of £700,000. If you intend to get a loan to cover the costs of opening a franchise, a personal investment of 30 to 50% of the total amount will usually be required. For Las Iguanas, the minimum personal investment is £350,000. Due to the higher startup costs, this option is not recommended for first-time franchisees. You will also need to invest in a large premises to operate this business. Eligible candidates may apply for financial aid. See eligibility details on our website.
If working in the Restaurant industry appeals to you, take a look at our 88 available investment options in the sector. You will find a total of close to 250 franchise possibilities here on Point Franchise. So if you haven't settled on one sector yet, take your time and explore all the options.
Data on this page was collected from NOMIS and the ONS. This content was machine-generated in partnership with LabSense.