Franchising is an industry on the rise and the top franchise opportunities can generate six figure incomes for those behind the reigns. And, considering more than 50,000 successful franchises in the UK contribute more than £17 billion to the country’s economy, there’s plenty of choice for those looking to enter the sector (BFA). Make the move from employee to franchisee and you’ll enjoy so many perks, including the ability to choose your own hours, the pride of working for yourself and the chance to work in an industry that you’re genuinely passionate about.
If you’re not sure where to start in your hunt for the perfect franchise opportunity, we’ve highlighted some of the most exciting businesses currently looking for new franchisees in the UK. Read on and you might just discover your next career move and maybe even the industry where you can make your fortune…
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1. Low-cost franchise opportunities
Franchising can seem, on paper, quite an expensive way of becoming your own boss. Many franchises ask for six-figure investments before you even get started, which can seem very daunting for people with little to no savings to play with. It can also seem risky if you’ve never invested in a business opportunity before and can’t afford to lose tens of thousands if things go south.
As franchises have a much higher success rate than independent businesses (anywhere between 80-95 percent, depending on the business, according to whichfranchise.com), investing a little to potentially get a lot in return sounds exciting, right?
If you’re on a budget but still want to get in on the franchising boom, there are plenty of low-cost franchise opportunities out there for you to invest in. One Delivery is one of the lowest cost franchise opportunities in the UK, with minimum investment starting from just £495. You could oversee the delivery of delicious meals to customers in your local area, from places including independent restaurants, fast food chains and the local pizzeria, and earn an impressive income in the process. What’s more, the opportunity can be run flexibly alongside other sources of income, or scaled up to be your only venture, depending on your goals and ambitions for your franchised business.
Another thrifty investment is FiltaFry, which requires an investment of £5,000 to get started. The award-winning, van-based franchise offers businesses across Europe a unique micro-filtration service to get the most out of their cooking oil, and turns all waste oil into bio-gas that can be used to power vehicles. Also, each franchisee operates in an environment of virtually no competition, as FiltaFry offers a unique product across Europe.
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2. High street retail franchise opportunities
As franchising in the retail sector rapidly grows, high street retail franchise opportunities are becoming a popular choice for those looking to invest in a franchise. Online shopping might be on the rise, but the UK’s shoppers still do 80 percent of their buying in physical outlets, showing there’s still plenty of appetite for exciting new stores on our high streets (Deloitte).
From clothing and food to sportswear and stationery, you’ll find a diverse range of retail franchises on the high street, and you’ll be able to find one that matches your interests. Investment levels for a retail franchise tend to be higher than other types, as you’ll need to work overheads like staff, commercial rent and shop fit-outs into your business plan. Some of the retail franchises in the UK include Budgens, Londis, Cash Converters, Boots, River Island and Timpson, to name just a few.
If you want to invest in a well-known high street brand, it’s likely that you may need to have your own successful business or a strong track record running a multi-unit franchise business to be considered. Here at Point Franchise, we have exciting retail opportunities selling everything from clothing with Noa Noa to hair care services with Rush Hair to e-cigarettes through Ecigwizard.
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3. Cleaning franchise opportunities
In the UK, we spend an average of 493 hours cleaning every year, despite more than 30 percent of us claiming we’d rather hire a cleaner to do the job for us than have a day off work (idealhome). And, a study published by the Evening Standard found that 16 percent of London’s under-35s have a cleaner, and that the time-poor young professionals would reportedly rather hire a cleaner than save up for a house deposit.
This shows that there’s a massive potential market for those looking to join a cleaning franchise, as more and more of us turn our backs on the odious chore. If you’re lucky enough to enjoy getting places spick and span, you could join the UK’s £5.6 billion contract cleaning market by investing in a cleaning franchise.
We have plenty of options when it comes to cleaning franchises right here. If you’re looking to invest in a commercial cleaning franchise, JAN-PRO requires an investment of just £3,000 and could soon see you taking care of commercial premises in your local area in just a matter of weeks. Or, if you’d like to become part of a network of domestic cleaners, Nationwide Cleaners’ flexible franchise opportunity can be run on a part or full-time basis.
4. Restaurant franchise opportunities
Some of the world’s best-known franchises are restaurants, with fast food behemoths KFC, McDonald’s and Subway all running their business across the world through a network of hard-working franchisees. And, as the average person in the UK spends £700 every single year just on eating out, it’s clear that the restaurant and fast food industry is a profitable one for those that can afford to get into it.
When it comes to restaurant franchises, location is key. When placed in the right spot, you can expect the franchise to become highly profitable and successful. However, expect to have longer training periods for restaurant franchises and fast food franchises, as well as larger investments, which can often run into six figures.
It’s also not unusual for the most well-recognised brands to ask for new franchisees who run their own successful business already or to only recruit those who are looking to establish a multi-unit operation. For example, national Italian restaurant chain Bella Italia asks that its franchisees have previous experience operating and expanding other casual dining brands, as it’s a highly recognised name in the restaurant industry. WOLF Italian, meanwhile, welcomes franchisees from all backgrounds, though asks that they’re interested in opening a multi-unit operation in their region.
5. Vehicle-based franchise opportunities
Vehicle-based franchise opportunities are often home-based franchises, so are ideal if you’re looking to add flexibility to your working week. You’ll need a car, van or vehicle to carry out the majority of the franchise operations, which often involves delivering goods to customers or to businesses.
The good thing about a vehicle-based franchise is that it only requires a small franchise investment compared to other franchise types and has a high earning potential. Most franchisors in this field will already have a lease option set up for the hire of the vehicle, so you won’t need to worry about car leasing and vehicle finance brokerage by yourself. Our most popular examples include ChipsAway, a mobile cosmetic vehicle repair franchise that operates in both a van-based and static site format.
How do I join a franchise?
If you’re convinced that a franchise would be the ideal next career move for you, here’s what you need to do to get started:
• Find out more about your chosen franchise – visit its franchising page to learn as much as you can about what the opportunity entails
• Read testimonials from other franchisees to get first-hand insight into what running your own location is really like
• Check the franchise is registered with the British Franchise Association (BFA)
• Attend a discovery day or register your interest with the franchise so you can meet the team
• Work out how you’re going to finance your franchise – savings aren’t the only option for making your franchise dream a reality
• Meet with a lawyer to make sure your franchise agreement is what you expect before signing
• Ensure you’ve worked out a plan to bridge the gap until your franchise becomes profitable
• Take every opportunity for training and support that you can and make sure you’re clued up on future chances to make sure you keep growing as a franchisee
Whichever franchise you choose to begin your franchising journey with, make sure you’ve done your research and are ready to take the plunge before handing over your money. While franchises are much less likely to fail than independent businesses, there’s still every chance your business could go south if you’ve not done the proper research before joining. Be savvy and choose the right opportunity for you and this could be the chance for you to take the leap from employee to franchisee and business owner.
Sophie Cole, Point Franchise ©