Many people dream of starting their own business. They save and save, before having to come up with their own branding, then slogging away for years to build up a successful client base. But, with a franchise, your client base and branding are already there and well established. You can piggyback off the back of this to give your business that injection to hit the ground running. Here are some great franchising ideas to get you started.
Running a business has some extremely complicated aspects, but these are mitigated when you’re running a branch of one of the most recognisable brands on the planet. Mcdonald’s has its doors wide open to franchisers. You’ll need an initial investment of 85,000, which is a huge amount, yet when you compare it to the start up costs of an average business it is on a level playing field. The investment is worth it too, each branch as a cash flow of between £95,000 and £200,000, meaning if you can pass their selection process, you’re almost guaranteed to make a profit.
Owning your own home care business is great for someone who wants to give back to the community. If you’re passionate about caring for the elderly or disabled then this is surely for you, and in the process you can make a profit. There is a great home care franchise to take a look at, and you can really make some decent cash, people are deciding to receive home care instead of moving into retirement homes, giving you the client base to launch a great franchise.
They’re absolutely everywhere, but if you can find somewhere quiet, somewhere niche, then you can make a coffee shop a great success. They’ll even help you find a suitable site. The opportunity here comes with the drive thru, if you can find a busy commuter route without a starbucks or a coffee shop in general, then you can really make a hit by installing a drive through, busy rushing people would much prefer this than getting out and queuing, so keep it in mind the next time you’re travelling to work and see if you can spot any opportunities
If you have a passion for food and want to open a restaurant then consider franchising. Finding clientele for your business will be extremely hard, especially in restaurant terms, nobody will immediately need your services, instead they’ll have to be won over. But if you start as a franchisee with TGI then you’ll already have a veritable client base not only for food seekers, but for people who just want to stop off and grab a beer. The brand is recognised world wide, but has a rigorous application and approval process. Your business plan, finances and site suggestions must all be spot on before they give you any support. Also, they assess how much you’re worth, which needs to be in the seven figures, you need a track record in restaurant success so this one is for those who already have good experiance in the retail or food markets.