Starting a business in Cambridge
For those looking to start a new business. Franchising is a flourishing industry. The industry consistently shows 90% of franchisees reporting profitability. The advantages of owning your own business are obvious but so too are the risks. The franchisee is taking less of a risk than starting his or her own business and less than 4% of franchises fail for commercial reasons. This is because they are operating under an established and proven business model and supplying or producing a tested brand name.
Why choose Cambridge to run your franchise operation?
Transport links are very good in the area. With easy access to London, Norwich, Peterborough and beyond you are in a great place to attract new clients. In Cambridge, you’re just a 45-minute train journey from London’s King’s Cross station and with easy access to the M11, the journey to London will take approximately 90 minutes by road.
The nearest airport is Stansted, which is just a 40-minute drive away! The benefits of starting a business in a well-connected area are obvious, and Cambridge is no exception.
With one of the best universities in the world situated in the centre, you shouldn’t have too much difficulty recruiting high-calibre employees whose exceptional knowledge could prove invaluable to your business.
Are there suitable areas to run my franchise opportunity?
Cambridge is a fantastic franchise territory as it hosts several business parks and shopping districts capable of hosting a vast array of franchise operations from.
These include within Cambridge;
- The Grand Arcade - The biggest of 3 malls in Cambridge, offering top British brands and international brands
- Grafton Centre - One of three malls in the town
- Beehive Centre - Mid-sized shopping area offering toy, electronics, hobby and fitness shops, plus free parking
- Copley Hill Business Park, South Cambridge Business Park, St John's Innovation Park - Offering flexible and professional office space for you and your business.
Cambridge currently has a population just under 130,000 but fear not as this potential franchise territory attracts 5.3 million tourists every year, contributing a massive £583 million to the economy.
Will I receive any support through franchising in Cambridge?
Apart from the franchise support and training you will naturally receive from your franchisor, there is an added benefit of choosing Cambridge as your franchise territory.
Primary purpose is to accelerate the growth and success of start-up companies; fortunately, there several such fantastic business incubators located in Cambridge:
- Eagle Lab's Cambridge Incubator: Barlcay's flagship Eagle Lab business incubator is located on Chesterton Road in Cambridge. Offering co-working, private offices, and mentoring, this has long been a popular starting point for pioneers and innovators
- St John's Innovation Centre: This is the place to be if your venture centres around science and/ or technology
- Serious Impact: Here you will have access to co-working, office space, meeting rooms, networking opportunities and first class support
- Incubyte: This is a business incubator for technology-based start-ups and can be found in the Cambridge Innovation Park. This business incubator features mode rn workspace, bespoke mentoring and access to workshops, talks and events
Business incubators house some extremely successful start-ups and are very popular as your office is embedded within a hub of exciting up-and-coming businesses that are often in a similar position to yourself.