You may have been toying with the idea of quitting employment and starting your own business for a long time. Well, self-employment is not for the faint-hearted, but some options may give you an upper hand in the pursuit of freedom and financial independence. Franchising is one of the best ways of learning the ropes of self-employment. While there are several franchising opportunities in the market, magazine franchises are some of the cheapest. Several magazine franchises are available at costs ranging from £1,000 to £20,000, which is much lower than the industry average.
Some of the most popular magazines in the UK offer franchising opportunities. On the lower side, we have the likes of My World and I and Vision going for £999 and £5,500 respectively. On the upper side, the likes of Family Magazine and Just Regional go for £12,500 and £15,995 respectively. As you may have guessed, the franchises on the upper end of the scale command a better market presence and higher income potential than those on the lower end.
The UK has a vibrant magazine publication sector valued at over £10.2 billion which grows at an annual rate of 2.8%. The publishing industry has a ready market with over 67% of the UK population accessing a published news source on a daily basis. Magazines are a major source of news and entertainment for many readers, especially women. Market research indicates that franchising is one of the most lucrative ventures with an astounding 97% of the franchises in the UK being profitable. Most of the franchisees as satisfied with their business and have high hopes for the future.
A recent survey indicated that most people choose to franchise because it confers them independence while moderating the risks of starting a new business. Franchising allows you to make an income while fulfilling other household commitments. Magazine franchising allows you to have fun and make money while you're at it. As a franchise, you get to engage with the community and loyal readers while gathering content and distributing magazines on the ground.
Starting a franchise is not as hard as starting a new business as the franchise offers a loyal customer base and high visibility in the market. Moreover, most franchisors offer basic training to help you kickstart the business. If you are concerned that the franchise may take too long to recover the investment, you need not worry as some franchisors also offer opportunities to buy established franchises.
As a franchisee, you have unlimited income potential as your income level is dependent on the number of sales you make. Finally, franchising offers more job security than other types of business as you are working with a proven business model and an established brand.
As you continue weighing your options, you should seriously consider magazine franchising as a viable starting point for your journey through entrepreneurship. Contact us, and we will guide you in signing your first franchise contract!