Retail & Stores Franchise opportunities to start in Newark-on-Trent
Newark-on-Trent: A great location to start a business
Many brands are currently looking for franchisees in Newark-on-Trent, located in the East Midlands. By becoming a franchisee, you could run your own business while receiving comprehensive training and marketing support. Keep reading to explore the options in the Newark and Sherwood area. Explore our different franchising options to discover the sectors and brands that most appeal to you.
Recent figures show that 122,000 people live in Newark and Sherwood. The majority of residents are aged over 60 years old. The area has a labour force of 57,000 people, or 77.9% of the total population. The unemployment rate (6%) is high compared to the rest of the United Kingdom. Salaries in Newark and Sherwood average £28,564 a year, while in the UK the average income is close to £31,000.
Why the Retail industry appeals to franchisees
If you wish to operate a Retail franchise, you are likely to find one that interests you among 61 available across the United Kingdom. With four Sweet Shop franchises, four Tool franchises, three Fashion franchises, two Greeting Card franchises and three Craft franchises, this sector has great potential for exciting business ventures. See if there's a brand to suit your goals and interests. If you're interested in the Retail industry, you may want to consider how many people already work in the industry. In Newark and Sherwood, Retail companies currently employ 5,000 people.
Three franchise business examples
Initially established in 1997, Cash Generator operates in the Retail industry. Cash Generator now has over 23 years of experience under its belt. The brand's network is made up of 700 franchisees, which promote its visibility. A total of £240,000, a substantial initial investment, is required to open a Cash Generator franchise. You might want to consider getting a loan to cover the startup costs, in which case at least £80,000 of the total investment should come from your personal funds. The higher startup costs make this an opportunity best suited for most established franchisees with greater access to financial resources.
You could also consider Mac Tools, which has been operating since 2011. The brand has a strong network and good exposure, running in 170 franchise locations. You will need to invest £50,000 to start your own Mac Tools business. At least £5,000 of this affordable amount should come from your own personal investment. 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 qualify for financial aid. See eligibility details on our website.
Finally, Cash Converters could be another good option for you to invest in. First established in 1984, Cash Converters is a recognized leader in the field, with 36 years of experience under its belt the brand operates in 200 franchise locations which make up a well-established business network. This business requires a substantial initial investment of £100,000. 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 open a Cash Converters business is £39,000. Given these higher startup costs, this opportunity is less suitable for first-time franchisees.
The Retail industry currently offers 61 franchising opportunities. You will find a total of 236 franchise options on Point Franchise. So if you are still looking for the perfect investment opportunity, there are still plenty of options for you to explore.
This page contains machine-generated content provided by LabSense, using data collected from NOMIS and the ONS.