When you are looking for an investment opportunity, you may want to consider a franchise business, which can prove lucrative for you. There are many types of franchises you can consider in many different industries, so there should be a suitable option available. The level of investment required to get in the door will depend on the franchise you are looking at investing in and the industry.
There are lots of possibilities, and below are some of the various types of franchises you can consider investing in.
Investment Franchise
You usually find that an investment franchise is a large-scale business that will require significant capital investment. It is usually the largest investment you can make in a franchise, and the franchisee will typically invest the money and supply the management team for the franchise opportunity. If you have limited management experience, you may need to consider professional Sydney business coaching services for this type of franchise, which will aid you to run the operation. A Typical industry where you will see this type of franchise is the hotel industry.
Product Franchise
Another type of franchise you can consider for your investment is a product franchise, sometimes also called a distribution franchise. Some of the typical types of businesses in this type of franchise include:
- Computers
- Appliances
- Bicycles
- Vending Machines
- Large Equipment (Tractors, Earth Moving Equipment)
- Cars & Car Repairs/Parts (Ford, BMW, Honda)
Your franchise will be part of a specific brand and either sell or service those products they sell. You will get plenty of support and training from these types of franchises, and they can be a profitable business showing you excellent returns when they are well managed.
Job Franchise
You can also consider a job franchise for your investment, which is a popular option in skilled trades. The franchisee pays to be part of the franchise and is supported through marketing and lead generation, and there are often minimal start-up costs. Examples of trades you can often see in a job franchise include:
- Plumbers
- Cleaning Services
- Mobile Phone Repairs
- Gardening
- Travel Agency
If you already have experience in the sector you are working in, it can be an excellent way to become a business owner and take your career to the next level.
Business Format Franchise
One of the most popular franchises is a business format franchise, and you will have seen many of these around. The idea is you adopt the parent company’s business model and run your business following their guidelines and procedures, so customers get the same experience no matter where they go. Popular franchises in this sector include:
- Fast Food & Takeaways
- Restaurants
- Gyms & Fitness Centres
- Retail Stores
A Conversion Franchise
A conversion franchise is slightly different to the other models, as the franchisee is already in the same business as the franchise, they are looking to make their investment. They will convert their existing business to become part of the franchise, including adopting all the branding and processes put in place by the parent company. You typically find industries in this sector, including electricians, florists, plumbers, and real estate agents.
