Thinking of buying a franchise? Interested in the cost...your total investment in a franchise business that you'll be able to call your own?
If I told you that your new franchise business will cost you between $50,000 and $35 million, would you be satisfied with my answer?
I didn't think so....
Your investment in a franchise business can vary a lot. The reason; different business models have different costs.
For example, if you wanted to invest in a hotel franchise, you would be on the high-end of the scale, investment-wise.
But, if you were looking into a franchise opportunity that was service-based, like this mobile franchise, your investment would be on the lower-end of the scale.
The hotel franchise requires you to purchase a huge building. The Ultragloss franchise doesn't.
Other things like territory-size, inventory costs, and payroll costs figure into the mix, too. But, in general, a franchise concept that requires you to lease a commercial space-or even buy a building, will cost a lot more than a franchise that only requires a few vehicles, and a non-prime location, will be a lot less.
Recently, Caron Beesley, a fellow writer at the US Government's SBA.Gov small business website, wrote a post that you're going to want to read-and bookmark for later use.
Her post will help you figure out exactly how much a franchise will cost you.