How much does it cost?
Every franchise is different and so costs vary a great deal between them.
The Best Of Its franchises’ costs depend on the population density of the area and range from £8,999 in quieter areas to £27,999 for the London Boroughs.
The initial fee pays for the web domain, basic training, support and access to the network.
There are few other costs to the franchise and most franchisees tend to work from home.
After the third month of operation franchisees pay a fee of £300 to the franchisor each month, which rises to £500 when they have over 200 advertisers.
The licence fee is £300 for 0-199 advertisers (the payment is not due until month 3 to allow time to become established).
This increases to £500 for 200 – 499 advertisers, which covers all sites currently in operation. The Best Of also provide weekly conference calls on various subjects that franchisees should find useful.
iSold It Its initial franchise fee, which covers training, support and the right to trade under the company’s names in an exclusive territory costs £19,995.
Franchisees will have to arrange for a store to be made to the requirements of the franchisor and this ‘store in a box’ costs £40,000.
It is then estimated that working capital for the project, to cover rent, wages and other overheads, will be around £20,000.
This brings overall costs for the project to just under £80,000. WSI WSI says that total start-up costs are £36,800, and this covers all training and the right to trade under the company’s name. However, as you work from home start-up costs should be kept to a minimum.
Franchisees pay the franchisor 10% of what they earn each year.