Most franchise owners will tell you that they could have easily saved quite a bit of money from the costs incurred opening their first units.
This begs the question: If this is such a universal truth, then why didn’t the franchise companies show them how to save this money as part of their training?
The answer is that they probably did.
The secret to reaching the best result in terms of startup costs is balance.
If you picture the cost vs. speed quandary as a continuum, you don’t want to be at either extreme.
Trying so hard to save money that you never open the business isn’t going to be any better for you than spending too much to open a little sooner than you otherwise would.
There are five common expense categories where most startup cost savings are found.
1. Franchise company fees
2. Turnkey packages
3. Lease terms
4. Construction costs
5. Equipment, signage and fixtures
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Photo by svilen001.