How much does it cost to franchise a business?
There is a vast range in the cost of franchising a business. For many years the price was typically between $100 000 and $200 000. When we launched the Franchise Institute in 2004 we were the first consultants in the market place to offer low cost franchise consultancy, with our price starting from $29 000 +GST. Today some 14 years later there are more people in the low cost franchise consultancy space and the more expensive consultants have also reduce their prices – which is good news for you the customer.When comparing price make sure that you compare ‘apples with apples’. I have heard of quotes for as little as $9 000 and what I can say with complete confidence is that anyone who is offering franchising services for that price must be cutting many corners, and I would say “buyer beware’. My belief is franchise as cost effectively as you can but know where to invest and where to make savings. Cut too many corners and it will leave you and your business exposed further down the track.