Retail & Stores Franchise opportunities to start in Preston
Why should you invest in Preston?
Preston, located in Scotland, 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 Scottish Borders area. Deciding which sector you'd like to work in will lead you to the brands that best suit your needs and business objectives.
Approximately 115,000 people currently live in Scottish Borders. When broken down by age range, the majority of the population falls within the 60+ category. The 3.2% unemployment rate among the 53,300 economically active people in the area is lower than the national average. The United Kingdom's annual average salary is £30,629. Salaries in Scottish Borders are slightly lower in comparison, averaging £26,777 a year.
Running a franchise in the Retail industry
Are you interested in the Retail industry? You're likely to come across a franchise worth considering among 61 brands across the United Kingdom. In fact, you can choose from two Greeting Card franchises, four Sweet Shop franchises, two Cosmetic franchises, two Music Shop franchises and three Craft franchises today. Many companies in Scottish Borders already operate in the Retail industry, which employs 4,500 people. You would become a part of a well-established business community.
Three brands worth your attention
The Retail industry has many franchise options available, such as Mac Tools, which has been in business since 2011. The brand's network is important, counting 170 locations across the UK. This business requires a reasonable initial investment of £50,000. 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 start a Mac Tools business is £5,000. Given these low startup costs, this option could be suitable for first-time franchisees.
Another possibility to consider is Cash Converters. The brand was first established in 1984. The brand's extensive experience, good reputation and wide exposure are valuable assets. The brand's network is made up of 200 franchisees, which enhance its exposure. A significant initial investment of £100,000 will enable you to open your own Cash Converters business. In most cases, your personal investment should represent 30 to 50% of the total amount. Cash Converters requires you to personally invest at least £39,000. You could potentially get a loan to cover the remaining costs. Given these higher startup costs, this is an opportunity best suited for most established franchisees with greater access to financial resources.
Lastly, another option to consider is The London Vape Company, a brand that first opened in 2014. The brand is growing quickly, with five outlets currently in operation, and a desire to expand further. In order to open a London Vape Company business, an initial investment of £60,000 is required. If you plan on getting a loan to cover the startup costs, you will usually need to cover 30 to 50% of the total investment yourself. The London Vape Company asks for a personal investment of at least £30,000. 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. If eligible, you might be entitled to financial aid. See our website for more information.
We offer a total of 61 businesses in the Retail industry. If you're interested, see if the perfect investment opportunity for you is among them. At Point Franchise, we have close to 250 franchising opportunities available, giving you plenty to choose from in other sectors too.
NOMIS and the ONS provided the data shown on this page. This text was automatically generated by LabSense.