The costs that are involved with acquiring a franchise varies widely dependent on the business franchise you’re looking to purchase. Bearing this in mind, it is vital to decide what industry you are interested in and which specific brands you want to work with before you can even think about calculating an accurate start-up budget. Costs can range from as low as £8,000, all the way up to more than £4 million so this is import to remember.
The cheapest options tend to be home-based or mobile franchise opportunities while those that run into millions of pounds normally involve the acquisition of property and land, such as hotel franchises.
In addition to purchasing the franchise itself, you may need to consider additional costs such as legal fees, which will be incurred before you even sign on the dotted line. You may also incur fit-out costs for retail units and have to pay for signage, inventory, insurance, employee training, landscaping, business licenses and other essentials before you are up and running.