A FRANCHISE - FLEXIBLE WORKING FOR MUMS
If you would like to start up your own business but don’t have a specific business idea and/or are anxious about going it completely alone, you might consider purchasing a franchise.
As a parent, you’ll be aware that that there are an amazing range of activities and classes on offer for children including music, cooking, dance, art, yoga, swimming, sports and many more. Very often these classes are taught by other parents, working part time, running their own franchise businesses.
The cost of a franchise varies enormously from around £1,500 through to £25,000 plus, depending on its profit-making potential and how well the brand is known and established. You will also probably have to pay the franchisor a percentage of your income. In exchange, you will own an exclusive territory in which to operate your business.
The price paid for the franchise generally includes the training you will need to start up the business and other resources required to run the class, such as manuals, branded equipment, lesson and activity plans and marketing support.
You CAN afford it...
The good news is that because franchising is recognised as a safer route into business than simply setting up on your own, many banks are happy to lend you a substantial percentage of the initial investment. Most of the high street banks have special sections that deal with franchising which is a useful source of free advice. They provide information packs about franchising and financing and can help if you want to borrow money.
Usually the main skill required to run such a children’s activity franchise is the ability to interact well with children, to get on their level and teach them in a fun, engaging way.
If you think a franchise might be for you take a look at our options here.
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