Choosing a location for a franchise is one of the most important decisions you’ll initially make. Pick right, and you’ll reap the rewards. Choose wrong, and you could end up dealing with the cost of doing so – and not necessarily just financially.
It’s therefore advised to thoroughly research territory locations before buying a franchise. The first stage of this decision will likely boil down to the often-asked question – what’s the best area: city or rural?
Here, we lay down the pros and cons of each to help you reach a verdict…
Franchising in the city
Firstly, whichever city you live in, the transport links are likely to be fantastic. Living close to your workplace won’t be as much of a necessity, as you’ll be able to travel relatively quickly and easily – and may even be able to use your commuting time to work on your business.
Any city’s brimming population will bring with it a much wider pool of clients. This is a big pro: you have the opportunity to serve a significantly larger population, allowing you to achieve a quicker ROI and grow your franchise business.
On top of this, the greater variety of potential recruits and suppliers means you can be more selective, and have the best talent working on your company.
The UK welcomes a number of vibrant and busy cities, and conveniently – Rainbow International is proud to offer a range of franchise opportunities in these very locations. Our city territories include (but are not limited to):
With the sheer amount of opportunities available here, you should find securing finance easier too – making for a swifter and seamless buying process. But the vast size of a city could also have its disadvantages.
There may be a number of competitors trying to capitalise on the city’s potential, meaning the market could be oversaturated. You could struggle to gain market share, but this could be overcome with the backing of a well-known brand and expert industry knowledge.
A franchisor is also likely to have made a territory available because they believe a branch could be successful there, so you may not experience tough competition.
The market could be even harder to crack because of the higher costs often experienced in cities. Premises, wages and resources may all be greater, making budgeting particularly important.
Unless you live quite a distance from the city, you might also find that your personal expenses will take a dip in your bank balance too. However, you can charge more for your services (or on-board more clients) to compensate for these expenditures.
Buying a franchise in a rural area
A franchise in the countryside will have considerably lower costs by comparison. You may find yourself more able to get better deals on the essentials for your business, meaning there will be money available to invest in growth.
There is a rural area business opportunity for a specialist cleaning and restoration business too. This is because, unlike the city, the countryside is much more likely to experience the effects of the UK’s annual storm season. Places in areas like the Lake District and Cumbria have relied on disaster recovery services in recent years.
It’s not just cities that the UK has to offer, no. There’s also a number of charming rural areas, and what more – Rainbow has a number of available territories in these very locations. Our rural territories include (but are not limited to):
You won’t have to face such rivalry in acquiring business either. Lack of competition will result in you being the customer’s choice. Integrating yourself within a tight-knit community means that you will be able to form closer relationships with them also, resulting in greater levels of repeat and referral business.
The quieter market does come with its shortcomings though. There could potentially be not enough scope – in terms of both the accessible market and choice of suppliers and team members.
Living remotely means driving will likely be a necessity as well. If your premises are out of the way, some prospective employees simply might not be able to access them. Even you yourself could struggle to get there, depending on your location.
A franchise in the city, or a rural franchise?
Ultimately, a lot of the decision-making involved in choosing a location for a franchise will rest on your personal requirements. Once you’ve determined your ideal area, you’ll need to look into the franchisors available who can offer a territory here.
Picking from this selection is a whole other process, and you should ensure you choose one that can offer high chances of success regardless of your location.
An established brand will be key. With this, you can expect to see the profits roll in sooner. But Rainbow provides so much more to make sure you thrive.
We’ll equip you with the necessary tools and resources so that you can make the most of the opportunities in whichever territory you pick. On top of this, we deliver ongoing training and support to guarantee continuous success.
If you’d like to discover more about partnering with us, request a callback from our team today. For further information about our territories available – in both rural areas and those in the best cities for business – have a look at our franchises for sale page.