3 Reasons to Choose a Franchise to Start Your Own Business
In the UK, self-employment is a trend that has been on the rise over the past few years. With its attractive benefits, it is clear to see why.
Owning your own business can certainly be rewarding but starting one on your own is not easy. Franchising is an option for creating your own business as it provides you with the foundation you need to get started. Here are three reasons why you should consider choosing a franchise today.
Cost-Effective
It is no secret that starting a business from scratch requires a large amount of funding. The average cost for starting a business in the UK is £22,756. From legal costs to accountancy, it certainly takes its toll financially. However, one huge benefit of choosing a franchise model is that the set-up costs are much lower than if you were to go at it alone.
It is important to note that the costs and offers can vary depending on the industry you choose to venture into. It is advised that you do your research into what franchise partners are willing to offer to you. This is so you can confidently know that you are choosing the right model for you.
Land of Opportunity
Franchises are a business model that has been tried and tested over a long period of time. You can go into a franchise with the knowledge that it is a proven business model. It has been suggested that franchises have a high success rate when compared to most start-up companies. Most franchise business models offer you guidance in helping you build your business.
One great thing about a franchise is the choice that you are given. There are so many franchise partners out there, and finding one couldn’t be easier with the help of Franchise Local. They have over 400 listings for you to choose from, so you can find a business model that is the right fit for you. You will really be spoilt for choice.
Support From Banks
Securing your finances to start your own business can be a challenge for many. One of the great things about franchise models is that they have the support of big banks. Some major banks even offer dedicated banking support to franchises. With a proven track record of success, the franchise business model has been demonstrated to work, so many banks are willing to help you secure funding as they will be aware that you have the support of a franchiser behind you.
After a quick online search, you will be able to identify which banks offer franchise funding. You may be surprised to see how many offer their support, and it can give you confidence that you can receive the funding you need to get started. It is always advised that you speak with a financial advisor for their professional opinion before you go ahead and try to secure funding for your franchise.
