This guide outlines the 5 best franchises that are still lucrative in this economic climate.
Looking for a way to become your own boss, with the backing of a well-known successful brand? In this article, we’re letting you in on five lucrative franchises to jump on. Since the COVID-19 pandemic, an increasing number of UK adults are choosing to leave the 9 to 5 behind in order to go into business for themselves. A franchise is a relatively risk-free way to do just that.
As more and more UK adults choose to leave to work for themselves, franchising lawyers are receiving an increasing number of enquiries. In this article, we’re sharing five of the best franchises to reset your career.
What is franchising?
Increasingly popular with budding entrepreneurs and those who are disillusioned with working for somebody else, franchising is the act of buying a slice of an already established business in order to set up your own branch. In most cases, you’ll pay a set fee to buy your franchise and then, after a certain length of time, will pay the franchisor an agreed percentage of your takings or profits.
There are a number of benefits to the best franchises, including the fact that you can potentially earn a great deal of cash without the risk of setting up a new business from scratch.
5 of the best franchises
When it comes to choosing a franchise, there’s a huge amount of choice out there and the options can sometimes be baffling. Here, we’re sharing five of the best franchises that you can get started with right now.
1. Mail Boxes Etc
If you live near a busy high street, you may have spotted one of Mail Box Etc’s some 2,900 retail service centres. The company is currently offering one of the best franchises opportunities.
With a minimum investment of £25,000, the company offers support and advice while you’re setting up your business, as well as ongoing support to help you to maximise your profits. The potential revenue earned from this franchise will vary depending on your location, but the ongoing success of the brand which was launched in 1980 in San Diego is a good indication that there are some great profits to be had.
2. Access4Lofts
Since 2020, UK homeowners have been embracing staying in as a cheaper and more convenient way of socialising, leading to an increase in the number of people looking to convert a loft or attic or loft to create a spare bedroom, hobby room or den, making it one of the best franchises. Because of this, there’s never been a better time to get onboard with an Access4Lofts franchise.
With an estimated 35% to 40% profit in the first six months, an Access4Lofts franchise will cost you £29,950, £10,000 of which must come from your own funds as opposed to from a loan.
3. Optic-Kleer
A lot of new franchisees tend to opt for a business which will never run out of demand and Optic-Kleer offers just that. The leading UK franchisor for windscreen replacement, you can get started with this franchise for just £15,000.
Optic-Kleer franchisees have the advantage of being able to operate from Sainsburys car parks, and most of these franchisees report earnings of around £5,460 per month, making it one of the best franchises.
4. dns
If numbers are your game, a dns accounting franchise allows you to service clients from the comfort of your home, backed by a company which boasts an impressive 11,000 clients, and counting.
This franchise requires a minimum investment of £22,000. 90% of franchisees report profitability within two years of getting onboard, highlighting it as one of the best franchises.
5. Husse Pet Products
If you don’t have a huge amount of capital to play with, a Husse Pet Products may be one of thebest franchises for you at just £7,000. A leading supplier of dry pet food and pet products, this franchise offers a 40% margin and the opportunity to get onboard with an exciting, award-winning product.
Opportunity and Risk
A franchise can be a great way of setting yourself up in your own business – even if you’ve never run a business before. The backing of an established company means that you have the benefit of experience as well as lots of support and, in some cases, financial help with getting started. In this article, we’ve shone a spotlight on some of the great and lucrative franchise opportunities out there. However, these are just a small selection of the best franchises available.
If you have some time spare on the 14th or 15th of April, head on over to London’s ExCel Centre for the annual Franchise Show. Featuring over 250 exhibitors and countless seminars and talks, this is a great opportunity to meet some of the franchisors firsthand, and take the first step in your journey as a franchisor.
While a franchise carries less risk than starting a brand-new business from scratch, it’s important to note that getting started and making a profit requires a great deal of work and commitment, and not every franchisee will succeed. Make sure that you do all of your research before committing to a franchise opportunity – and always make sure that you read all of the fine print before signing a contract.
If in doubt, a good franchising lawyer will be able to help you to untangle the fine print in order to decide if an opportunity is right for you.
Please be advised that this article is for general informational purposes only, and should not be used as a substitute for advice from a trained business or franchise professional. Be sure to consult a business or franchise professional if you’re seeking advice about setting up a business. We are not liable for risks or issues associated with using or acting upon the information on this site.
