Are you interested in starting your own business but worried about the potential risks? We have the solution for you. Franchising allows you to start your own business. If you want to be your own boss and run your own business, but are not sure where to start, what resources you need, how to market products and services or how to hire and train employees don't despair – a franchise opportunity could the right choice for you. The principle benefit of franchising is that it is first and foremost about partnership. This means that you are working with a proven, established system in exchange for on going fees. On the other hand, if you start your own business without the assistance of franchising you could run into many problems that you may not be able to sort out yourself.
A brief history of franchising
So when did franchising start? If you think it started with the McDonalds fast food chain then you are wrong! Although McDonalds is one of the most successful franchise systems it was not the first. The history of franchising dates back further much further than that to 1858 when Isaac Singer invented the sewing machine. He needed a way to distribute his machines by people who knew how to operate them and thus franchising was born.
Franchising and you
Being your own boss sounds like a great idea and as a young person you may be wondering how much it costs to start your own franchise. The price can depend on the type of franchise you choose. The great thing about franchising is that you can start one just to earn some extra money if you already have a job or you can do it as a hobby. How much time and effort you want to commit is entirely up to you.
There are many different franchising options, including part-time and work from home possibilities which allow you the most flexibility. These two options can range in price from £5,000 to £10,000 for a part-time franchise to £5,000 to £20,000 for a home-based franchise. If you are not keen on working from home and you have a van at your disposal you could run a van franchise which would set you back between £5,000 and £25,000.
If you are not able to come up with all the money you need to start your own franchise business then you can get financial help. First you can approach friends and relatives and then you can approach banks and speciality franchise lenders.
For more information visit Franchise Direct.
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