Tier1 Graduate Entrepreneur - Franchising

[thunder2210]

Hi everyone,

I'm currently finishing my master's degree with one of top 10 UK universities and planning to apply for Tier1 Graduate Entrepreneur as a first step to Tier1 Entrepreneur.

I want to start my business immediately during the graduate visa year to start generating revenue so I can collect the required £50,000 upon shifting to Tier1 Entrepreneur, and I plan to do so by opening a franchise.

My question is: Is their a specific list of franchise business types that are accepted and won't create any issues while shifting to Tier1 Entrepreneur?!

Thank you!

[marcnath]

All franchises are acceptable.
Remember that the 50K has to be your personal money, not revenue of the company. So, you need to generate profit, pay corporation tax on it, pay yourself, pay income tax on it and have 50K left over to invest back into the company.
And don't you need money to start up the franchise anyway ?

[thunder2210]

Thank you marcnath. Yes, I do have the money to start the franchise, but I'm just looking to start generating revenue to support the 50K number after a year from now. After of course paying all salaries, operation costs, and taxes.