172
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Crib sheet: Franchise costs
Don’t be put off by the potential franchise costs – there are always ways around
these and arrangements that can be made…
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O
NE OF the most important aspects of support. In some cases, franchisees will have to pay
franchising is the cost. While franchising is the fee for their business property, especially the
an appealing prospect and in many ways, food and drink and high street franchises. Liquid
preferable to starting a business from scratch, there capital will also be required because the business
f
r
a
n
is still the issue of raising funds for it in the rst place. may not succeed straight away. So during this quiet
O
A lucky scenario is that a prospective franchisee spell, franchisees will need to have enough money
will have received a large sum of money, either tucked away to pay for nancial commitments.
T
through a will, redundancy or sheer good fortune. The franchise payments can be spread out over
The more likely scenario is that a prospective time, and it’s also worth noting that some franchisors
franchisee will have to apply for a business loan, ask for regular payment fees to cover services such
E
W which most banks are happy to do. This is because as training, support and media.
franchises represent a good business opportunity Whether or not you have the money, there is
N
and so are a low risk option for banks. Franchisors always a way around franchise costs.
may have deals with banks for this reason, or if not, Speak to the franchisor about this and see if
they can point you in the right direction. you can come to sort of arrangement. But if your
The costs can occur in many ways in a franchise. business does well, and the money comes pouring
The main cost will be the franchise fee, which in, there’s no need to worry. Put in the work and see
comprises the training, equipment, start-up and those rewards grow.
NEXTissue
MARKET FOCUS
MAIN FEATURE
No place like home
We reveal some of the leading
home-based franchise opportunities
PLUS:
So liberating!
●
All the latest news from UK franchises
●
Valuable advice from our team of experts
Why franchising is proving popular
●
among business-minded women
All the information you need on more than 100
of the leading franchises
February 2009
www.businessfranchise.com
BF172_Next Issue_Apr08.indd 1 25/2/09 18:21:20
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