The term low-cost franchise is all relative. What one person considers low cost for a franchise is not necessarily what someone else considers low cost.
In the franchising world though, low cost is considered any franchise £10,000 or less.
Low-cost franchise options
Let’s look at different low cost franchises
- Kids drama franchise £10,000
- Kids Spanish classes franchise £3,000
- Cleaning franchise £8,500
- Pet sitting franchise £7000
There a few options out there in various sectors, but most franchise businesses cost a lot more than £10,000.
The buy in cost whilst may seem a lot, it’s likely only a fraction of what the franchisor has paid out to get the business model right. This generally takes years to do. Lots of investment, trial and error and taking the time to ensure there is a solid business model in place.
Not even considering the cost in advertising for franchisees which is thousands annually.
A head start versus a stand alone business
Joining a franchise is like leap frogging about 3-5 years ahead of any start up. All the hard work has been done for you. For your franchise fee you are handed a business in a box, with all the training and support so you can hit the ground running from day one.
Like any business though, there’s still a lot of hard work to put in and like any business it takes time to earn your investment back.
At Pets 2 Places our franchise is in the low-cost franchise category, our current joining fee is £10,000, but its worth noting we do require a specific vehicle which will set you back around £15-20,000. Plus, you need to consider working capital, whilst you can earn money from day one. In the first 6 months it’s unlikely to cover your outgoings. So, consider the additional costs with setting up a franchise.
Make sure the franchisor is honest with you about any additional costs such as equipment or insurance which isn’t included in the franchise buy in cost.
If running a pet taxi sounds like the perfect fit for you, why not head on over to our franchise pages to find out more
