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Best Photography Franchises For UK Franchisees
Franchises that touch upon the lifestyle sector have seen a remarkable upsurge in the recent years. From leisure/spa franchises to fitness franchises, the trend is unmistakable.
Photography franchises have revived themselves during this period, gaining the important ground that was lost in the post-2008 slowdown. If you’re looking to invest in photo franchise opportunities, there are dozens of options to choose from. We have listed some of the most promising ones on this page.
Photography Franchises – Understanding The Market
Smartphones have turned all of us into photographers – but that hardly means that the need for professional, high-quality photography services has become any insignificant.
A quick look at the numbers is all it takes to confirm this. The professional photographic industry in the UK turns over £1.7 bn every year. More than 8,000 independent businesses exist in this sector, employing 18,000+ people. At over 2.2% per annum, the industry has been growing steadily over the last ten years. In short, the industry comes good on all the basic growth parameters that you, as a would-be photography franchise owner, should look for.
How Much Do Photography Franchise Opportunities Cost?
Photography franchises can be divided into two broad categories – commercial and retail.
A typical retail photo franchise can cost anywhere between £5,000 and £25,000. A comparable commercial photography franchise, quite predictably, costs more, requiring you to put up over £50,000 in initial investment.
What Do Franchisors Offer?
The minimum initial investment, in most cases, buys you the licence to use franchisor’s brand name, business model and other know-hows. Most franchisors offer initial training, along with ongoing business support and marketing assistance.
You may also need to raise additional capital to buy the necessary range of equipment and technology (if not present in the franchise package). If you are an independent/freelance professional photographer, you will have a larger pool of photography franchise opportunities to choose from.
Going Niche As A Photography Franchise Business
Niche photography businesses hold an edge over their generic counterparts, given the relatively small size of the industry. In recent times, novel concepts like drone-operated construction photography have been successfully implemented by many franchisors.
If you possess the necessary skill set, such opportunities can be worth considering. A well-managed and efficiently run photo franchise can expect to break even within 18 months of trading.