Retail Franchises in Norfolk

What are Retail Franchises?

Retail franchises are any type of franchised business in which goods are sold to a consumer. Franchises are businesses which have been set up successfully and replicated in various franchise territories by franchisees. The goods sold by retail businesses could include anything from food to clothing, petrol and commercial stationary.

Retail franchises will typically require a bricks and mortar setup, a physical premises. This isn't always the case though, because there are broadly some eCommerce and drop shipping retail franchises out there.

If you don't already own a premises, franchisors will usually be able to lend assistance when it comes to site selection. Choosing the right place to set up your retail franchise is in your interests and the franchisors as well.

Retail Franchise and Retail Business Statistics

• According to RetailEconomics, the total value of the retail sector in 2021 was estimated at £421bn
• Also according to RetailEconomics, over 3 million people were employed in the retail sector in 2021

Be a part of this booming marketplace, and be your own boss with a retail franchise.

How Much do Retail Franchises Cost?

The cost of a retail franchise will depend greatly on whether you own a premises or not. Assuming that you do own a premises, you can expect to pay:

• An initial fee, which could be anywhere in the region of £20,000 - £50,000. This would usually include initial training, equipment, marketing costs, staff recruitment, legal and the like.
• Store Fit Out, this may or may not be part of the initial fee but shelves, counters, ePOS systems will all add to the cost. Software may even be charged on a recurring monthly or yearly basis.
• Management Service Fee, this will usually be a fixed percentage of your turnover to cover ongoing support and marketing.
• Ongoing, you will likely also be paying for stock, products and ingredients (if you're interested in food retail franchises).

You should attend franchise discovery days or schedule a meeting with the franchisor to learn more about the costs associated with each retail franchise business. Retail is a very diverse sector as I mentioned, and it covers businesses like food, restaurants and shops so expect a diverse price range as well for the investment.

Top Merchandising Franchises For Sale

Merchandising franchises are a sub industry of retail where franchisees purchase and resell goods. This could be in similarity to dropshipping retail franchises where franchisees act as a middle party, or it could be a corporate branding franchise. In the instance of corporate branding, franchisees will purchase unbranded goods from the franchisor's partners, and then sell the goods onto the franchisee's clients in a branded state. Branded goods are often a marketing tactic to help build brand recognition and merchandising franchises are key players in the corporate branding solutions market.

Aside from dropshipping retail and corporate branding, a good example of a merchandising franchise would be a vending tower business. Typically vending franchises will purchase product to sell via the machines, often for a higher price.

Merchandising is a consumer driven sector heavily dependent on supply and demand. Therefore choosing an established and well recognised brand is important for success.