Top Reasons To Buy A Low Cost Franchise Opportunity
With many prospective entrepreneurs finding their financial resources greatly diminished
by the recent and severe economic downturn, and the continuing credit squeeze still significantly hindering small business lending, its no wonder that the appeal of low cost and affordable franchise opportunities has never been greater. This article will detail some of the obvious and top reasons why investing in a low cost franchise opportunity makes good sense for many individuals in today"s market.Affordability:
The number one and most obvious reason why low cost franchise opportunities are so appealing today is because of there relative affordability. When compared to many traditional and popular brick and mortar franchises like fast food restaurants for example, that on average cost anywhere between $300k to $500k, most low cost service related franchises generally cost less than $100k to start-up. Because of the lower investment required these types of franchises are often able to be purchased by individuals using there owner personal financial resources. This in turn can often eliminate the headaches and time consuming delays many franchise buyers experience when trying to secure bank or SBA financing to purchase a more expensive franchise opportunity. And let"s not forget that with no burdensome loan payment every month the new franchise owner can put more money in his or her pocket.
Easier & Quicker To Get Started:
Because most low cost franchises tend to be service related they generally don"t require the time consuming build out of a new location. Consequently they can often be up and running very quickly. This is an obvious advantage to entrepreneurs who for various reasons such as a job loss need to get a business off the ground quickly. In fact, many low cost franchises can often be operated from a home office thus even eliminating the need and time to find and lease an office or retail space.
Easier To Grow Business:
With a lower overall investment required many low cost franchise opportunities can often be easier and less expensive to expand or grow. This appeals too many first time and inexperienced small business owners who are concerned about minimizing their risk. The option to grow the business by taking smaller incremental steps and with out making a big investment can be very comforting.
Lower Overhead Expenses
Unlike your typical brick and mortar franchise opportunity many low cost franchises are designed to be an owner operated and generally have little or no staffing requirements. Many are also designed to be either home-based or don"t require expensive and high traffic retail space further reducing monthly overhead costs. Obviously with lower overhead and operating expenses your chances of reaching profitability and putting more money into your pocket can increase dramatically.
Offers Potential Better Lifestyle:
And finally because many low cost franchise opportunities today are service related and can be operated from a home office you could potentially have a lot more flexibility in running your business. Ultimately this could also provide you with more free time to spend on other priorities in your life including your family.
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