With more than 900 franchises available for investment in the UK, opportunities come in all shapes and sizes to suit all budgets. From famous global brands to new start-up franchise opportunities and everything in between.
There are many reasons why budding entrepreneurs choose to buy a franchise. For some, being made redundant is the catalyst for seeking new opportunities, and the concept of being the boss is appealing to many. With the maximum statutory redundancy pay currently at £14,670, investing in a franchise under £10,000 is the perfect chance to embark on a new venture.
If you’re looking to become a McDonald’s or Costa Coffee franchisee, then you may be disappointed; but there are lots of low investment opportunities for you to consider. Many of the franchises that require less than £10,000 investment are either van-based, such as Mac Tools, or home-based like Spoton.net, so have low overheads too.
And, don't confuse low investment with low returns. Because of the minimal overheads that are associated with franchises under £10,000, profitability can be achieved sooner. If you invest in a franchise opportunity with an established brand, a tried and tested business model and a robust support package; you'll be able to own and operate a lucrative business, regardless of the investment cost.
Point Franchise has a directory that enables you to refine your search based on your available budget. So, with franchise fees starting from as little as £495, there are opportunities available for everyone.
Franchise opportunities under £10,000 tend to be more flexible than those that require a higher investment. This means that you can make your dream of becoming the boss a reality for an affordable price. You’ll benefit from the freedom that comes with being a business owner, with the flexibility to run your franchise around any other personal commitments.
There are many part-time opportunities available for investment for under £10,000 which allows business owners to start small and grow at their own pace. Franchise opportunities such as Snak Appeal and Tubz gives franchisees the chance to pick the hours worked and therefore the amount of money earned. You can genuinely control when, where and how often you work while building your business.
Other franchises like Brokerplan and CPA Online only require a laptop, phone and internet connection to do the job. This means that you can choose where you work from to fit in with family life. You can log on from the side of the pool during the kid’s swimming lessons, or from a local coffee shop. These home-based franchises are very attractive for parents who want to own their own business as well as having the chance to do the school run and avoid crippling childcare costs.
Although the franchise fee may be less than £10,000, you may be expected to cover additional costs to get your business up and running. If you choose to invest in a van-based franchise, for example, you’ll probably be responsible for purchasing or leasing a suitable vehicle. The franchise package usually covers the livery of the van so that brand consistency can be achieved, but the vehicle funding is down to you.
Also, make sure you're clear on what the franchise fee payment covers. If you're investing in a franchise opportunity under £10,000, then it's likely that your training and required equipment will be included in the cost, but you may need to fund any additional items that are essential to starting your new business. These may not cost a lot, but the franchisor will have purposely kept the franchise fee low so that more people can afford to invest, which means that the franchise package may not be as comprehensive as some higher cost franchises.
Yes, there are plenty of franchise opportunities under £10,000, but just be prepared to pay more to get up and running in some cases.
Lower cost franchise businesses are growing in popularity as they offer affordable investment, quicker returns, less risk and tend to be easier to manage. As well as being flexible, the opportunity to grow your business is also easier to accomplish. Without having high levels of debt to purchase the franchise in the first place, and the chance to make a good profit, it’s more likely that the funds will be available to buy additional locations or territories. And since franchises under £10,000 generally don’t have many overheads or require staff, they prove to be very resilient through times of economic uncertainty.
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