WHICH FRANCHISE WOULD BE BEST TO INVEST IN?

Dear Biz

I have been made redundant and have a lump sum I want to use to set up my own business. I don’t have my own idea so I thought I would take on a franchise, but I don’t know where to start to choose one.

Can you help point me in the right direction please? Sally, by email

Biz Replies

To choose the right franchise, you need to think about your skills, experience, interest/passions and the amount of money you can afford to invest.

If you enjoyed the sector you were employed in, you may be able to find a franchise in that area so you can use your knowledge and experience. Or maybe you have a hobby or something you have always wanted to get involved in that will lead you to the right one.

Do some thorough research: check out potential franchises, exactly how much they cost, and what sort of return you can expect.

And double check there is a market in your chosen area for the product/service.