Top 5 Finance Franchises

28/01/2018 08:00 | Start a business

Top finance franchises uk

Planning on opening your own finance franchise soon? Then read all about our top five finance franchises for 2018:

Top finance franchise opportunities

Brokerplan Franchise

If you're looking for the opportunity to earn substantial income in a well-established business network, consider opening your own franchise with Brokerplan. Founded in 2004, the Brokerplan network is authorised and regulated by the UK's Financial Conduct Authority (FCA), and represents the Partner Training and Support division of White Rose Finance Group Ltd. Every member of the Brokerplan senior management team has at least 25 years of experience in commercial finance and business, working with over 9,000 clients ranging from BT to HSBC.

Because the network earns income from commissions by its lender partners, an average commercial project can deliver anything from £2,000 to £50,000 a year, with some cases exceeding £75,000 in income. With a minimum investment of just £4,995, its the ideal franchise business opportunity for those looking for a large full-time income with relatively low overheads.

Indeed, unlike many other franchises, Brokerplan doesnt charge an ongoing franchise fee or management fee. That means you'll be able to keep all your business income after you pay a small monthly business support fee, which will cover your FCA compliance costs, and other services such as e-mail hosting and day-to-day website administration. All franchisees will also receive FCA regulatory and compliance support via Appointed Representative status, which means each registered individual that works under the Brokerplan brand will receive all the assistance they need to become FCA-authorised.

Certax

If you're interested in accounting and want the freedom to generate significant income from your own home or office, Certax could be the perfect franchise investment for you. One of the leading accounting networks in the UK, Certax already has more than 100 successful franchises operating in the country. It estimates that its franchisees can earn anywhere from £50,000 to £100,000 a year, depending on how much time they wish to put into their franchise, to provide accounting services from auditing to bookkeeping. Each franchisee receives specialist training and support from Keith Bradshaw & Co, a trusted and well-established Chartered Certified Accountancy Practice.

This network is perfect for people who have a basic knowledge of accounting, although no accounting qualifications are necessary. The franchise offers a bookkeeping package for a franchise fee of £9,995, a Full Accountants package for £19,750, or a Qualified Accountants Package for £9,750, giving you the chance to operate under a respectable accountancy brand even if you're not a qualified accountant.

Expense Reduction Analysts

Operating across the UK and Ireland, Expense Reduction Analysts is one of the biggest consultancy franchise networks in the world. Its franchises provide strategic advice to help businesses receive the best deal from their suppliers, so they can save money. Having celebrated its 25th anniversary in 2017, the network now works with approximately 140 franchise partners, all of whom collaborate to provide the best services for their clients.

A winner of the HSBC Franchisor of the Year award on several occasions, Expense Reduction Analysts usually shares its savings on a 50/50 basis, and recruits for people with experience of business development, client relationship management, or those who have worked as cost area specialists. The cost of setting up an Expense Reduction Analysts finance franchise is £39,900, although bear in mind that you'll also need some additional working capital.

Rosemary

If you've always wanted to operate your own accounting franchise under a proven business model and a trusted brand, consider Rosemary as your next franchise business opportunity. A renowned bookkeeping franchise, it offers ambitious business owners that chance to achieve a recurring income with average net profit margins of 50%. With flexible hours and the opportunity to work from the comfort of your own home, you can say goodbye to commuting as you grow a successful management-style business. The cost of setting up a Rosemary bookkeeping Franchise Partner package is £16,970, along with a start-up cost of £2,870 which include all the necessary IT equipment and software.

Once youve joined the Rosemary franchise network, youll receive a comprehensive 12-week training programme which will provide you with guidance on how to set up and operate your business, win new clients, maximise your sales, a provide a first-class bookkeeping service. Throughout your franchise term, you'll receive ongoing advice and technical support on bookkeeping, sales, marketing, recruitment, staff management and legislation changes, so you'll never be alone.

The Financial Management Centre

Another leading accountancy service, the Financial Management Centre provides flexible and affordable accounting to small business across the UK. With SMEs (small- and medium-sized businesses) representing 99% of the UK's 5.4 million businesses, the market for financial management is extremely robust. This is a great franchise business opportunity for entrepreneurial individuals with a good understanding of the SME sector and the need to provide outstanding customer service.

The cost of setting up a Financial Management Centre finance franchise are relatively small, with a typical start-up fee of £20,000 and a minimum personal investment of £8,500. Because you have the choice of working from home or in an office, you'll also enjoy considerable flexibility while you manage and build your business.

Dont forget to get independent legal advice before you make any commitments

Before you sign you contract and start operating your own finance franchise, its important that you understand the agreement. Even though it might seem like an additional financial burden, hiring a specialist solicitor will help you understand your rights and obligations, and identify any potential issues with the contract before you make your franchise investment.

For example, if you intend to operate several franchises, and your franchisor has put a cross-default provision in the contracts, this would mean you could lose all your franchises if just one of your businesses fail. However, you may be able to remove or amend this before you sign the contract and acquire further franchises later.

To find a list of approved solicitors that provide the highest standards of independent legal advice, visit the British Franchise Association (bfa) website.

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