One of the best business start up ideas is a franchisee. You are your own boss and yet you have the advantage of being linked to a company and business that has already created a niche in the market and is a known and recognized name.
The cost of starting a business franchisee varies from business to business and is largely dependent on the equipment and premises that it requires. Location is usually the key determining factor in the success of a franchisee and hence many franchisors such as big pizza parlors or burger outlets require a certain kind of location and premises.
Some franchisers are also known to offer leasing deals to get the franchisee up and running. The basic start ups costs for a franchisee includes the franchisee fee or the contract fee to use the company name and system, cost of premises, equipment, legal fees and working capital.
A franchisee could cost anywhere between £10,000 and hundreds of thousands of pounds. A recent survey by NatWest and British Franchisee Association indicated that the British franchisee business was growing much faster than the economy, in fact twice as fast, and was valued at £10.8bn.
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