The Best Businesses Come in Small Packages

30/11/2018 18:00 | Become A Franchisee

small-business-ideas

Not every business venture will result in the development of an international commercial empire. Some of the best ideas start small and grow steadily and surely. Small businesses typically give their owners a greater degree of flexibility and control, allowing them to fit their professional activities in around their personal lives. For those looking to make a little extra money, this can be an attractive idea. Here, we take a look at what small franchised businesses are available on the market and why theyre such a popular option.

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Small profitable business ideas

There are a remarkable number of small business opportunities available in the franchising sector and investors have a wealth of franchises to choose between. In large part, this is due to the way in which franchising lends itself to the development of small business ideas and facilitates their spread across the country.

As all franchises are based upon a proven business model and have succeeded as small start-ups before adopting the franchise model, investors can rest assured that theres a good chance of success. However, its still necessary to be careful and do your research, particularly when it comes to examining the contents of the franchise package.

Each franchisor will provide its franchisees with a different level of support. This comes in many shapes and sizes and includes material support, in the form of marketing supplies, business equipment, and perhaps even stationery, as well as advice and guidance from an experienced franchisor team.

How do small franchised businesses differ?

As with privately owned start-ups, franchises differ from one another regarding the products or services they offer, the industry they occupy, and the customers they serve. However, they also distinguish themselves by offering investors a variety of deals.

Take a look at Tubz

For instance, Tubz is a vending machine franchise that can be run from home and is likely to act as an excellent introduction to the world of franchising. It operates in both the UK and Europe and now boasts an extensive network that encompasses approximately 300 franchisees. However, what sets Tubz apart is its affordable start-up cost.

For an initial investment of just £2,795 +VAT, investors can start their own tower vending machine franchise that they can operate on either a part-time or full-time basis, according to their needs and desires. The business takes a minimalist approach, requiring almost no staff or storage space and is ideally suited to those who want to own a flexible business that generates healthy profits with minimal expenditure.

Tutor Doctor is a healthy alternative

However, not all small businesses can be purchased at such a low rate. Tutor Doctor requires a minimum initial investment of £29,700 and demands that franchisees be a little more involved in the day-to-day running of the business. It has also developed an international presence and operates in 16 countries. This has ensured that the franchisor has accumulated a great deal of experience and that it understands what support franchisees need if theyre to succeed.

The franchise package reflects this. It sees franchisees enrolled in a comprehensive training programme that includes hundreds of hours of in-class and online lessons. Franchisees receive ongoing business and marketing support for the duration of the franchise agreement. Finally, Tutor Doctor centralises business management processes in a well-developed piece of internet software. This ensures that all franchisees have the tools they need to run their business.

Nationwide Cleaners is a sparkling investment opportunity

Nationwide Cleaners occupies space somewhere between the two franchises weve already mentioned. Though it requires a relatively low initial investment of just £4,000, franchisees are expected to earn up to £60,000 within two years of starting trading.

Providing cleaning services to households and properties around the UK, the franchise prioritises a flexible approach and attempts to give franchisee the opportunity to work in a way that best suits their circumstances. For instance, the franchisor operates a centralised call centre that picks up client calls when youre unable to. This means that you never miss out on work and can maximise lead generation with minimal effort.

Small business ideas from home

The vast majority of small franchised businesses can be operated from home, making them well suited to those who require flexible business arrangements. Working from home also boasts some attractive business benefits.

First and foremost, a small business owner working from home can take advantage of low overheads. As there's no need for business premises or office space, there's property lease to pay. This is one of the most significant single expenditures any new business has to cover, meaning those working from home already have a distinct advantage over the competition they need to generate far less revenue before they start turning a profit.

Second, a home-based business is far quicker to set up than a business that does require a physical location. With an office or store-based business, its necessary to find the perfect location, negotiate a lease, and then fit out the store. This can take a considerable amount of time. Sometimes it may be months or even a year before youre up and running. The shorter start-up times associated with home-based businesses mean youre earning almost immediately.

Cheap small business ideas

As youve seen, investors can buy a small business for as little as £3,000 or as much as £30,000. While investors will be able to pay for some franchises with their own assets, others will require financial assistance. In many cases, a bank will be able to provide a significant amount of the capital necessary to start the business.

Depending on the franchises reputation and their relationship with major lenders, franchisees may be able to borrow anywhere up to 70% of the total amount required. However, to do so, franchisees will need to develop a comprehensive business plan that details how they plan to generate a significant profit. Franchisees can expect assistance from their franchisor during this process.
 

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